Recent leadership team changes have hit the cloud-based brokerages. On Monday, LPT Realty announced that Michael Valdes, the former chief growth officer at fellow cloud-based firm eXp Realty, has been named as the CEO of LPT International.
In this role, Valdes will lead the international expansion of LPT Realty, including the firm’s efforts to open in Canada and other international markets later this year.
Since launching in 2022, the Robert Palmer-led firm has expanded into 24 states and has grown to include more than 10,000 agents.
“I am thrilled to step into this role,” Valdes said in a statement. “LPT has been the fastest-growing cloud-based brokerage in history and is uniquely poised to expand this model globally. Robert is a true visionary, and I am honored and humbled to join this impressive company. I look forward to contributing to the unparalleled growth we are about to embark on.”
Over the course of his four years at eXp, Valdes helped the brokerage expand into 22 new countries and add 60,000 new agents. Prior to joining eXp in 2020 as the president of eXp Global, Valdes held leadership roles at Anywhere Real Estate and Sotheby’s International Realty.
LPT offers agents marketing, technology and training with a $500 annual fee and a $195 transaction fee. Additionally, agents can choose their compensation plan by opting for $500 per file with a $5,000 cap or an 80/20 split with a $15,000 cap.
“This is a strategic step in our company’s growth trajectory, and Michael is uniquely qualified to lead this endeavor, having previously opened 86 countries across seven brands in his career,” Palmer said in a statement.
