Denman, speaking exclusively to HousingWire, said he is always on the lookout for things that can help strengthen his team, enabling them to better serve consumers, and eXp Realty fit the bill.
“The model matters and the people you surround yourself with also matter,” Denman said. “I’m still an agent buying and selling. I want to surround myself with people who are selling real estate, but it is attractive to me to be part of a company that is not only majority real estate agent stakeholders, but that is also run by an agent, Leo Pareja.”
Denman also said he and his agents are looking forward to taking advantage of the branding flexibility eXp allows for, as well as training opportunities and its revenue share program.
Additionally, Denman said that based on his research, the traditional brokerage model did not seem like the best environment to grow a team.
“I think the value that a brokerage is able to offer is changing annually, hence all of the consolidation we are seeing,” Denman said. “I believe the future of real estate is still going to have a traditional brokerage component, but the large team at a cloud-based model is going to be the fastest growing segment and the best place for an agent to go and grow their business in a way that is best for them to help their clients.”
While eXp Realty and Denman’s former firm of Compass come from very different ideological camps when it comes to private listings, Denman said this is not what prompted his decision to move himself and his team.
“I support [Compass CEO] Robert Reffkin in his belief that consumers should be given more options of how to list their home, but I also believe in not having monopolies and not having one entity control all the listings,” he said. “I believe agents across all brokerages having access to listings is important for both agents and consumers.”
“Todd and his team represent exactly the type of leadership and culture that continues to choose eXp,” Pareja said in a statement. “We are seeing top mega teams across the country recognize that the future is cloud-based, collaborative and team-first. The Denman Group’s move further validates the momentum we’re building as the brokerage model of the future.”
