Hello and welcome back to my real estate blog. I have some exciting news to discuss today that’s flickering all across the real estate industry. An iconic independent brokerage, Grand Lux Realty, has taken an innovative step and teamed up with eXp Realty. The future of real estate is heading towards a more technologically advanced approach, something eXp Realty encapsulates and uses as its primary strategy.
Getting into the specifics, Grand Lux Realty, led by its founder Michael Levy, has a widespread presence in Westchester County, New York, the lower Hudson Valley, and Fairfield County, Connecticut. The amalgamation with eXp Realty is seen as a strategic move to take his team’s business to the next level. Sounds like a plot twist in a realty show, right? But wait until you dive deeper into the pool of advantages this partnership aims to bring!
Grand Lux Realty is joining eXp as a Mega ICON Team, a term that might be foreign to some of us. In a nutshell, it refers to a team with a lowered agent cap and lower transaction fees. The plus side? Agents reach their cap faster and keep more profit throughout the year.
The name Grand Lux Realty might be familiar to many of you. Since 2006, it has been constructing its influential footprint all over affluent areas of Westchester County and since expanded its reach throughout the lower Hudson Valley, and even making its mark in Fairfield County, Connecticut. In the golden gloves of real estate, it’s known for its ‘Golden Glove Service,’ a testament to its reputation for delivering unparalleled service to its clients and customers.
The numbers for Grand Lux Realty speak louder than words. In 2023 alone, the agency closed a whopping $82,650,649 in sales on 168.5 units, with 2022 marking their best year yet with $90,097,478 in closed sales on 231 units. Breaking the $100M in sales a year barrier now seems plausible for Grand Lux Realty under its new partnership.
Part of this partnership move will see Grand Lux Realty consolidate its six offices into one central location in White Plains, NY by December 2024. This strategy aims to streamline operations and foster collaboration, ensuring they continue to offer top-tier service to clients under the banner of the eXp Realty.
To top off this transformation, the story of Grand Lux Realty’s founder is particularly fascinating. Michael Levy is a California native with a rich real estate background. His story stretches from commercial leasing at Helmsley-Spear, Inc., construction management at Lehrer McGovern Bovis, to managing a 30-room bed and breakfast in California. He is a prime example of what hard work and innovation can lead to, from starting his own real estate brokerage to now being a significant player in the future of real estate.
This move by Grand Lux Realty is a clear vision for the future of commercial real estate brokers: a future that leans heavily on technologies, virtual offices, and innovative partnerships like what we are witnessing in southern California with eXp Realty. A future firmly planted in a virtual brokerage model that allows for continuous growth and expansion.
From its foundation basement roots to now partnering with the largest residential real estate brokerage by geography in North America, Grand Lux Realty’s journey is not just inspiring but enlightening for emerging players in the real estate industry. I hope this blog post serves as an insightful source for all those wishing to understand the future dynamics of the real estate industry. Remember, innovation is the bedrock of success in this digital age. Stay tuned for more in-depth analysis and breaking news in the commercial real estate industry.
Original Article: https://life.exprealty.com/westchester-county-grand-lux-realty-joins-exp-realty/
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