New England-based independent brokerage Bean Group has made the leap to eXp Realty. It is the first brokerage to join eXp Realty through Boost, eXp’s newly released brokerage incentive program.
Launched in June, the Boost program offers a simplified incentive model. Upon joining eXp Realty, new brokerages can immediately realize the benefits of the partnership, which include stock equity, elimination of overhead costs, minimized brokerage risk and liability, access to brokerage support and operations, agent support and services, revenue share opportunities, and more.
It is open to any independent teams and brokerages that are “culturally aligned” with eXp Realty, have more than 50 agents and a minimum of $100 million (US/CAN) in sales volume in the originating country over the previous 12-month fiscal period, the brokerage said.
“The eXp platform was built to help agents and teams succeed and thrive, and with Boost we are joining together with independent teams and brokerages that share our values, culture and growth goals,” said Michael Valdes, eXp Realty Chief Growth Officer.
Bean Group, which had been affiliated with LeadingRE, is one of the top brokerages in Northern New England. Founded by Michael Bean in 2003, it boasts a roster of top real estate professionals across Maine, Massachusetts, New Hampshire and Vermont and has an annual sales volume in excess of $1.5 billion.
According to the most recent RealTrends 500 brokerage ranking, Bean Group tallied $1.78 billion in sales volume in 2022 across 4,016 transaction sides. It ranked as the 184th largest brokerage in America last year. The team has 24 offices across New England.
The combined market share of Bean Group and eXp Realty puts eXp as No. 3 by market share in New Hampshire and No. 2 in Maine, up from No. 5 and No. 3, respectively.
“By joining eXp Realty, we get the best of both worlds,” said Bean Group CEO Michael Bean. “We can maintain our boutique culture, brand and heritage while adding the unparalleled scale and resources of eXp Realty. Its agent-centric culture and benefits align closely with ours, and with this transition, we will deliver on our mission to help our agents and teams build successful real estate careers.”
