eXp executives Glenn Sanford and Leo Pareja
Illustration by Lanette Behiry/Real Estate News

eXp Realty promotes Leo Pareja to CEO 

The brokerage giant announced that its chief strategy officer will assume the CEO role, taking over from founder and eXp World Holdings CEO Glenn Sanford.

April 5, 2024
3 minutes

What happened? eXp has announced that Leo Pareja, who had previously served as eXp Realty's chief strategy officer is moving into the CEO position, taking over for brokerage founder and chief executive Glenn Sanford. eXp noted that Sanford will stay on as the chairman and CEO of eXp World Holdings, the brokerage's parent company — a role he held before stepping back into the top job at eXp Realty last year. The move follows a wave of changes in C-level leadership announced last week.

Who is Leo Pareja? Pareja joined eXp in 2022, the company said, after two decades in the residential real estate world. Prior to joining eXp, Pareja was the founder and CEO of real estate agent and lender platform Remine, which was acquired by MLS Technology Holdings, LLC in October 2021. 

In the news release, eXp praised Pareja's track record and leadership with the brokerage and credited him with the success of several key initiatives, such as eXp Exclusives, Revenos and an expansion of eXp Solutions suite. Sanford said that he saw Pareja as being the right person for the job at this moment. 

What Sanford said: "Leo's innovative and recognized industry leadership has elevated our agent-value proposition by reshaping referrals and lead-generation," Sanford said in the announcement. 

"His deep industry experience and influence on our community have been profound, and I trust that under his direction, eXp Realty will further fortify its competitive advantage and deliver unparalleled value to our agents, further cementing our position as a ground-breaking leader in the real estate industry."

What Pareja said: "As we step into this new chapter at eXp Realty, I am honored to lead a company that has always placed innovation and agent success at the forefront of its mission," Pareja said. "Together, we will not only continue to redefine the real estate landscape through technology and unparalleled agent support but also empower every member of our community to achieve their full potential."

Why now? While eXp witnessed tremendous growth in its agent count and revenue during the COVID housing boom, the real estate industry — and eXp — has struggled with a down market over the last year. However, the company ended 2023 with 87,515 agents — a 2% gain from 2022 — and $4.28 billion in revenue for the year. The company also paid out more than $230 million in agent revenue share and stock bonuses last year. 

The brokerage praised Pareja and said that he was the right fit to see the company's vision through the coming years. His promotion comes at a challenging time, as eXp — and founder Glenn Sanford — have been embroiled in numerous controversies and legal battles, including sexual assault lawsuits and its place as one of the biggest brokerages left out of the NAR settlement.

Other executive moves: At the end of March, the company announced multiple C-level changes at eXp Realty, with the following leaders taking on new roles:

  • Renee Kaspar has been named executive vice president and chief human resources officer.

  • Seth Siegler has moved into the chief innovation officer role.

  • Sumanth Kamath has been appointed chief technology officer.

  • Felix Bravo has taken over as VP, global growth.

Meanwhile, Shoeb Ansari, chief information officer; Jim Huang, president of eXp Commercial; and Mike Vein, EVP of people, left their respective positions.

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