Brokerage Beat: News from KW, LPT Realty, BHGRE and more 

Editor's note: The brokerage business is a busy one, with frequent moves, mergers and milestones. Here we highlight some of the latest activity among brokerages across the U.S.

Silicon Valley team joins KW Thrive

The Cupertino-based real estate team The Shee Group has parted ways with Compass and inked a new affiliation with Keller Williams Thrive, the company announced this week. 

Founded and led by owner Renna Shee, the team has closed more than $203 million in sales volume since the beginning of 2023. Shee, who has been an agent for more than 15 years, has individually sold more than 520 homes totaling over $900 million in volume, according to her website. Originally hailing from Beijing, Shee said she has been able to build her business up into one of the top 1% teams in the Bay Area.

The team currently includes two agents and a small support staff based in Cupertino, but plans to expand as they leverage KW Thrive's resources to scale further, the company said in the announcement. Shee cited KW's training and coaching programs as key factors in the move.

"Keller Williams' emphasis on innovation and training aligns perfectly with our vision for growth, especially as we expand into the luxury market," Shee said.

LPT Realty nabs former eXp exec as new CFO

LPT Realty has named Jeff Whiteside as its new chief financial officer, a key move, the company said, as the cloud-based brokerage gears up for further expansion and its upcoming initial public offering. 

Whiteside brings more than 35 years of global financial and strategic leadership, most recently serving as CFO and chief collaboration officer for eXp World Holdings, the parent company of eXp Realty. He previously held senior roles at General Electric, Pitney Bowes and several technology firms. 

Whiteside is the second eXp exec to move to LPT this year. In July, LPT announced that it had hired former eXp Chief Growth Officer Michael Valdes to spearhead its international expansion effort.

"Jeff is one of two executives who have had the greatest impact on transforming the cloud brokerage model into an industry leader," said LPT Realty founder and CEO Robert Palmer in the announcement. "His experience will be invaluable as we enter this next phase of growth."

LPT Realty has already been growing rapidly, reaching 10,000 agents within two years of its founding. The brokerage also expects to be in 49 states by the end of 2024, up from just nine at the beginning of the year. 

BHGRE merger expands operations in Tennessee

Better Homes and Gardens Real Estate Heritage Group has expanded its presence in Middle Tennessee by merging with Tullahoma-based independent brokerage Baker & Cole Properties. 

Founded in 2020 by co-owners and real estate veterans Susan Baker and Lisa Cole, the firm will now operate as Better Homes and Gardens Real Estate Baker & Cole.

Baker will assume the role of managing broker for the new office, while Cole will focus on real estate sales. In the merger announcement, Baker said the move "will significantly enhance growth opportunities" for her team of a dozen agents, "thanks to the extensive brand resources now available to us."

BHGRE Heritage Group is also a relative newcomer to the Better Homes and Gardens Real Estate brand, having joined in February. Principal broker/owner Melissa Sterling said the firm has since "experienced significant momentum," and partnership was the next step in their expansion. 

"This merger unites two esteemed brokerages, each with strong national and local brand recognition that resonates deeply with the Tullahoma community," Sterling said.

Realty Executives Associates surpasses 1,000 agents

East Tennessee's Realty Executives Associates (REA) reached a major milestone in the third quarter of 2024 as its agent count topped 1,000, the company announced this week. The company now boasts 1,032 total agents and has witnessed a growth rate of 20 new agents per month — a pace, says REA, that sets it apart from the competition in the region.

The firm also opened two new offices in Q3, bringing its total to 18 locations supported by 50 full-time staff, and making it one of the largest firms in Tennessee. The 2023 T3 Sixty Real Estate Almanac ranked REA as the 84th largest brokerage in the country by sales volume with $3.44 billion in sales over 9,701 transactions in 2022. 

CEO Justin Bailey credited the company's success to the resilience and adaptability of its agents and vowed to push for continued growth across the greater Southeast.

"Our expansion is a direct result of our agents' dedication and ability to navigate today's challenging market," Bailey said. "Their dedication and adaptability drive our success, and it's inspiring to see our team grow in both size and strength."

The Agency launches NY title business

Luxury-focused firm The Agency has announced a strategic partnership with Langdon Title to launch a new affiliated title agency called EastWest Abstract, serving New York-based buyers, sellers and real estate professionals.

The joint initiative is intended to provide "a seamless, full-service experience from contract to closing," the company said this week.

By bringing together Langdon Title's expertise in title and escrow and The Agency's real estate capabilities, the companies said they aim to deliver faster closings, better coordination between title and real estate professionals, greater flexibility, and a smoother experience for clients. 

"This collaboration allows us to provide unparalleled service and efficiency to The Agency's New York clients," Stephen Saler, co-managing principal of Langdon Title said in the announcement.  "Together, we will streamline the closing process, helping buyers and sellers achieve their real estate goals faster and with less hassle."