eXp Realty acquired a 102-agent brokerage in Miami, expanding its South Florida presence.
The Bellingham, Washington-based firm acquired OnePath Realty, according to a press release. In addition to its 102 agents, OnePath has eight staff members and closed $187.2 million in sales last year, the release shows. Its website shows its address as 13595 Southwest 134th Avenue in Miami.
eXp CEO Leo Pareja was unavailable for comment, and OnePath’s broker-owner Abel Gilbert did not respond to a request for comment.
The deal marks the latest South Florida acquisition for eXp. The firm also bought Aventura-based Broker’s LLC, a 500-agent brokerage, in May, according to HousingWire.
Brokerage acquisitions in South Florida have tended to focus on non-Miami-Dade County markets in recent months, as the pandemic-induced real estate boom has sprawled across the tri-county region. Price growth in Broward and Palm Beach counties has attracted the attention of local and national brokerages alike. In September, Anywhere Real Estate acquired a 48-agent brokerage in Jupiter. In April, Fortune Christie’s International Real Estate expanded to Fort Lauderdale with an eight-agent brokerage. In March, the Keyes Company landed a 24-agent brokerage in the Treasure Coast.
The OnePath acquisition follows a rocky year in the world of residential real estate brokerages. Class action lawsuits resulted in the creation of buyer’s agreements and forced brokerages to cough up hefty settlement payments. In October, eXp agreed to pay $34 million into a settlement fund related to commission lawsuits.