W
hile many brokerages chase consolidation and push clients toward bundled services, eXp Realty’s leadership stresses that consumers still have real choices. CEO Leo Pareja told Real Estate News that ancillary offerings are not a priority; he focuses on the brokerage’s core business and its clients. SVP Holly Mabery added that eXp can update forms and policies quickly, unlike the National Association of Realtors (NAR), which she describes as a “big ship” that moves slowly.

    The real‑estate market is experiencing rapid consolidation, creating opportunities for investors and firms that can dominate. However, the compression of businesses raises questions for ordinary buyers and sellers, especially regarding how ancillary services—mortgages, title, insurance—are bundled during a transaction. Rocket Companies’ CEO highlighted the acquisition of Redfin as a step toward “end‑to‑end integration” at an unprecedented scale. Large brokerages and portals now offer mortgage origination, title, and insurance, and in some cases, the growth of these services outpaces the core brokerage business. Zillow’s mortgage arm, for instance, reports double‑digit revenue gains even as residential sales slow.

    eXp’s approach differs. Pareja said the company has never marketed ancillary services as its “holy grail” of profitability. “We haven’t relied on outside capital to build our business,” he explained. “We do have affiliated relationships, and we disclose them, but profitability comes from the brokerage itself.” He contrasts this with competitors that have raised significant institutional capital and feel pressure to boost revenue by bundling services, potentially creating conflicts of interest. Agents at those firms may feel compelled to recommend mortgage or title products, yet they also have fiduciary duties to their clients.

    To address this, eXp introduced a “Consumer Choice” framework. Agents are required to present at least two service provider options to clients, encouraging buyers and sellers to explore alternatives. The goal is greater transparency and a competitive edge in a consolidating market. Pareja and Mabery also highlighted updates to the referral‑fee disclosure form, which eXp and Benchmark Realty revised after NAR’s delegate body rejected a stronger disclosure at the NAR NXT conference.

    Mabery noted that eXp can act faster than NAR. “We can bring a form to market in days, whereas a state association might take 30, 60, or 90 days,” she said. “NAR will continue refining its processes, but the responsibility to protect consumers and act as a proactive fiduciary lies with us, and we won’t stop there.”