I
llustration by Lanette Behiry/Real Estate NewsLeo Pareja, CEO of eXp Realty, has spoken out against repealing NAR's Clear Cooperation Policy (CCP), arguing it would lead to inventory hoarding and unfair business practices. He believes the industry should focus on competing for service and value rather than inventory.
Key points:
* If the CCP were repealed, Pareja expects brokers to compete for inventory instead of service or value.
* eXp Realty would likely be a significant beneficiary in this scenario, but Pareja is urging others not to pursue it.
* The CEO predicts more brokerage models will resemble eXp's and notes that agents have returned to the company after negative experiences elsewhere.
Pareja emphasized the importance of member participation and cooperation within the MLS system. He believes that if brokers want to advertise directly to the public on private websites, they should not be able to draw from the cooperative feed without contributing equally.
The CEO also discussed eXp's revenue share model, which he sees as an aligned partnership approach rather than a traditional downline structure. Pareja attributes the company's growth to its unique business model and predicts that more new companies will adopt similar approaches.
In light of recent industry changes, Pareja believes trust will become increasingly important for brokerages. He cites examples of agents returning to eXp after negative experiences elsewhere, highlighting the importance of reliable operations and timely payment.
