He has sold nearly half a billion dollars of real estate for the same broker for 18 years. But East Dallas powerhouse agent Lee Lamont believes it is time for a change not only in his own life, but in the real estate industry. It’s a change he foresaw several years ago, a change he is making permanent now by leaving a 18-year career at Coldwell Banker and signing with eXp Realty as of August 2.
Lamont, founder and CEO of Lamont Realty Group, etched his track record for success nearly two decades ago when he first entered the business.
He came to the U.S. as a British citizen.
“I knew no one, save for the few people we met as a family in our everyday routine,” says Lamont. After a brief stint with a radio advertising campaign, Lamont polished his shoes, knotted his tie, and went old school, simply knocking on the doors of his community for new listings and opportunities.
The approach worked and multiplied: Lee is consistently posting annual sales volumes of almost $50 million, across 75+ sales, every year in east Dallas.
His decision to upgrade to eXp Realty, the cloud-based brokerage, will help him expand and grow regionally and even internationally, he says.
“I’ve been very lucky to build a good business in Dallas by supporting my local church, my local schools, and of course, my local community,” explained Lee. “All real estate is local and the platform that eXp is delivering will allow me to streamline my local business, then grow internationally by just sticking to the same core principles that I had from the very beginning.”
Lamont says eXp World Holdings opens up a new world of real estate for him.
“I was happy at my previous broker. When I told them I was considering a move to eXp, they offered me a financial incentive to stay with them, but I’ve chosen eXp for three reasons …” he says.
Lamont says he shares eXp CEO Glenn Sanford’s vision for the industry’s future: a cloud-based organization that is mobile and nimble, yet very comprehensive. He was also enticed by the agent value proposition: eXp is the only broker that recognizes how realtors should be rewarded for their consistent service and work for their clients, he says.
“And thirdly, the chance to build and grow with the company is enticing,” says Lamont. “I’m betting on myself to help grow this innovative real estate firm here in Dallas and across the nation.”
His immediate goal, however, is to quickly surpass the generous incentive his previous broker offered him to stay on, but at eXp, without including the lucrative benefits of the company stock options and revenue sharing.
Corporate stock options and revenue sharing is one of the top perks that attracted Lamont to eXp.
Every year, thousands of agents emerge as top producers, the “whales of the industry”. But what do they get in return from their broker? A higher commission split? What about corporate incentives similar to Wall Street models?
Lamont is not the only agent pondering this: there is a rumbling within the industry of agents wanting to divorce themselves from traditional brick and mortar brokerages and marry their future to more progressive brokerages that reward hard work, longevity, and attraction, among other top agent qualities. Indeed, attracting and mentoring will be part of Lamont’s new missions at eXp.
“Being the #1 REALTOR® in Texas for four years in a row with his previous broker is a phenomenal accomplishment,” said Phil Hahn, eXp mentor, and executive. “We’re excited to have Lee on board: his wealth of experience and reputation as a successful agent in DFW means the sky’s the limit when it comes to his success. If I were a gambling man, I’d be betting on Lee, too.”
eXp Realty is regarded as an industry disruptor offering online marketing tools and a virtual real estate brokerage model free from brick and mortar. With more than 60,000 agents in the United States and internationally, eXp is a publicly traded company that provides real estate professionals with production goals and stock options. The cloud-based brokerage is powered by an immersive 3D platform that is deeply social and collaborative, enabling agents to be more connected and productive. On August 4, the firm will report its second-quarter 2021 financial results.
How does eXp compare to other publicly traded real estate stocks in terms of stock price and market caps?
Looking forward to his new role within the fast-growing disruptor brokerage, Lee says he will never give up his first critical role as a hard-working, 24/7 agent for his many clients across Dallas and DFW.
“I love my job. There’s a real sense of job satisfaction when you help a family, a first-time buyer, or people moving up or down in scale,” Lee said. “When you really connect with individuals in your real estate market and help them find their next home … it’s truly rewarding.”
