After four years with eXp Realty, Michael Valdes will move to LPT Realty. With more than 10,000 agents in the United States, the Florida-based brokerage is ready to expand internationally, executives told Inman.
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After four years leading the global growth of eXp Realty, Michael Valdes begins a new chapter in his career as CEO of the newly formed international division of cloud-based brokerage LPT Realty.
Valdes joins LPT Realty from 19 years of management experience at Sotheby’s International Realty, Anywhere Real Estate and eXp Realty.
Michael Valdez | Photo Credit: eXp Realty
“I am excited to take on this role,” Valdez said in a statement Monday. “LPT is the fastest growing cloud-based brokerage in history and is uniquely positioned to scale this model globally. Robert is a true visionary and I am honored and humbled to join the firm.” Impressive company. I look forward to contributing to the unparalleled growth we are about to embark upon.
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At Sotheby’s International Realty, Valdes served as senior vice president of international relations for two affiliates in Florida, before being promoted to lead SIR’s EMEA and Latin America and Caribbean regions. . At the end of his tenure at SIR, Valdes held the dual role of Vice President of Global Services for SIR and Senior Vice President of Global Services for Anywhere, SIR’s parent company.
Valdes joined eXp Realty in 2020 as president of eXp Global; however, two years later, he was promoted to chief growth officer of eXp Realty and eXp Commercial. During his tenure at eXp, Valdes helped the brokerage expand to 22 new countries and add 60,000 new agents — results that LPT Realty and LPT Holdings founder and CEO Robert Palmer couldn’t ignore.
“This is a strategic step in our company’s trajectory and Michael is uniquely qualified to lead this endeavor, having previously opened stores in 86 countries across seven brands during his career,” he said in a statement.
Robert Palmer | Image Source: LinkedIn
During a call with Inman, Valdes and Palmer shared the origins of their relationship and their belief in LPT Realty, which in two years has grown to 10,000 agents in 24 states. The Florida-based company provides marketing, technology and training services to agents for an annual fee of $500 and transaction fees of $195. Agents can also choose their own compensation plan: $500 per file, with a cap of $5,000; or an 80/20 split, with a cap of $15,000.
“As Michael and I got to know each other and he really started to understand the LPT model, I think he started to see the potential for our international expansion,” Palmer said. “I saw the potential in having someone with his expertise and experience in the field, and [him joining LPT] Makes sense.
Both said that despite the headwinds, the current market is the perfect environment to build LPT’s international presence as foreign consumers still recognize the benefits of buying and selling in the United States.
“I always say opportunities arise in down markets,” Valdez said. “WhatsApp and Uber entered the market in 2009 and look what they developed.”
“You still have the idea of expanding internationally—— [there’s] Diversifying currencies, diversifying opportunities actually makes you stronger,” he added. “By going out and trying to create something on an international basis, you can have a stronger balance sheet. That excites me.
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