Fast-growing techie brokerage eXp Realty revealed this week that it has nabbed the Lawson Team, a high profile Engel & Völkers group based in Utah’s ritzy Park City.
The Lawson Team includes 15 agents and five administrative staff. According to a statement from eXp, the team has done $296,113,605 in volume over the past 12 months and closed 204 deals. The team has an additional $32,259,063 in volume pending right now, and all of the pending deals will migrate over to eXp with the team.
EXp further described the Lawson Team as the top worldwide Engel & Völkers team in 2019 and 2020.
President and CEO David Lawson founded the team more than two decades ago. The team works with high-end properties in Park City, which is known for its ski resorts, expensive properties and as the home of the Sundance Film Festival. Additionally, the team represents high-end listings in adjacent communities such as Salt Lake City and Utah County.
The team officially made the jump to eXp late last month before publicly announcing the news exclusively to Inman this week.
The news of the Lawson Team’s migration to eXp comes amid a string of victories for the virtual brokerage. Just last week, for instance, eXp reported that it had managed to stay profitable in the second quarter of this year despite a shifting and slowing housing market.
Recent years have also seen a slew of teams joining eXp. In some cases the teams have switched over from older brands, and the trend has become sufficiently pronounced that recruiting has become a major part of the eXp story. Agents who have spoken to Inman about this trend have cited eXp’s community, revenue sharing and technology as factors in their decision to make the switch.
As of the end of June 2022, eXp had 82,856 agents globally. That represents a net growth of 4,660 new agents total between the first and second quarters of 2022.
The company has additionally vowed to add around 20,000 more agents before the end of the year, and founder Glenn Sanford has even floated the idea of eXp eventually having as many as 500,000 agents.