After 4 years at eXp Realty, Michael Valdes is transferring to LPT Realty. After surpassing 10,000 brokers within the U.S., the Florida-based brokerage is able to increase internationally, executives advised Inman.
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4 years after taking cost of eXp Realty’s international progress, Michael Valdes is beginning the following chapter of his profession because the CEO of cloud-based brokerage LPT Realty’s newly shaped worldwide division.
Valdes involves LPT Realty with 19 years of government expertise at Sotheby’s Worldwide Realty, Wherever Actual Property and eXp Realty.
Michael Valdes | Credit score: eXp Realty
“I am thrilled to step into this role,” Valdes stated in an announcement on Monday. “LPT has been the fastest-growing cloud-based brokerage in history and is uniquely poised to expand this model globally. Robert is a true visionary, and I am honored and humbled to join this impressive company. I look forward to contributing to the unparalleled growth we are about to embark on.”
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At Sotheby’s Worldwide Realty, Valdes served because the senior vp of worldwide relations for 2 Florida-based associates earlier than transferring up the ladder to guide SIR’s Europe, Center East and Africa (EMEA) and Latin America and Carribean areas. By the tip of his tenure with SIR, Valdes held twin roles as the worldwide vp for SIR and SVP of world servicing for SIR’s mum or dad firm, Wherever.
Valdes joined eXp Realty in 2020 because the president of eXp World; nonetheless, two years later, he was promoted to chief progress officer for eXp Realty and eXp Business. Throughout his tenure with eXp, Valdes helped the brokerage increase to 22 new nations and add 60,000 new brokers — outcomes LPT Realty and LPT Holdings founder and CEO Robert Palmer couldn’t ignore.
“This is a strategic step in our company’s growth trajectory, and Michael is uniquely qualified to lead this endeavor, having previously opened 86 countries across seven brands in his career,” he stated in an announcement.
Robert Palmer | Credit score: LinkedIn
In a telephone name with Inman, Valdes and Palmer shared the genesis of their relationship and their perception in LPT Realty, which has grown to 10,000 brokers throughout 24 states in two years. The Florida-based outfit presents brokers advertising and marketing, expertise and coaching with a $500 annual payment and a $195 transaction payment. Brokers additionally select their compensation plan: $500 per file with a $5,000 cap or an 80/20 cut up with a $15,000 cap.
“As Michael and I got to know each other, he really started to understand the LPT model, and I think he started to see the potential for our international expansion,” Palmer stated. “I saw the potential in having someone with his expertise and experience in that space, and [him joining LPT] just made a ton of sense.”
Each males stated the present market — regardless of headwinds — is the right surroundings to construct LPT’s worldwide attain as overseas shoppers nonetheless acknowledge the advantage of shopping for and promoting within the U.S.
“I always say that opportunity happens in down markets,” Valdes stated. “WhatsApp and Uber came into the marketplace in 2009 and look at what they’ve built.”
“You also have the idea of expanding internationally — [there’s] currency diversification, opportunity diversification that actually makes you stronger,” he added. “You have a much stronger balance sheet by going out and trying to sort of create something on an international basis. That’s exciting to me.”
