Steven Brackett and his 36-agent crew have moved to the digital brokerage. Brackett cited instruments and coaching, in addition to the fee lawsuits, as causes that satisfied him to make the transfer.
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Digital brokerage eXp Realty introduced Tuesday that it has recruited a crew of brokers in Maine, with chief Steven Brackett pointing particularly to antitrust litigation over agent commissions as an element that drove him to the brokerage.
Steven Brackett
Brackett leads a 36-agent crew that was beforehand at Realty ONE Group — Compass of Maine. In an announcement, eXp described Brackett as a “powerhouse” and a “well-respected leader in Maine’s real estate community.” Collectively, the crew has accomplished $128 million in gross sales quantity this yr through 338 offers, the assertion provides.
The assertion factors to a number of components equivalent to instruments and coaching, in addition to the potential for progress, that drove Brackett to eXp. Nevertheless, Brackett himself explicitly referenced latest litigation involving the Nationwide Affiliation of Realtors.
“In light of the evolving real estate landscape, especially following the NAR lawsuit, I recognized it was time for a change that would better equip me to support, educate, and empower my team,” Brackett mentioned. “EXp provided the tools, services, education, and opportunities that aligned perfectly with that vision.”
The litigation Brackett referenced has been ongoing for years, however exploded in 2023 because of a jury verdict that discovered NAR and main franchisors conspired to inflate prices. Business figures have denied that declare, however nonetheless opted for settlements in a rising variety of consumer-led circumstances.
The Nationwide Affiliation of Realtors settled with homesellers in March. For its half, eXp simply settled earlier this month. The corporate’s settlement contains an settlement to pay $34 million.
Amid the antitrust litigation, some have speculated that firms’ settlements, in addition to their measurement and common capability to cope with lawsuits, might develop into a consider recruiting. Whereas it stays to be seen if such a state of affairs performs out on any bigger scale, Brackett’s feedback counsel that at the very least anecdotally fee litigation is driving brokers to new brokerages.
Leo Pareja
In any case, eXp CEO Leo Pareja praised Brackett and his transfer to the corporate within the assertion.
“We are thrilled to welcome Steven Brackett and his accomplished team to eXp Realty,” Pareja mentioned. “Steven’s dedication to fostering talent and driving innovation aligns perfectly with our mission. His team’s exceptional track record speaks volumes, and we look forward to supporting their continued success.”
