DownSize Cleveland

04/05/2024

Leo Pareja takes over as CEO of eXp Realty
Founder Glenn Sanford remains as Chairman and CEO of eXp World Holdings to drive overall company performance

April 5, 2024, 9:05 am By Tracey Velt
Fresh off their RealTrends Verified ranking of No. 1 brokerage by transaction sides, eXp Realty, and the core subsidiary of eXp World Holdings, Inc. today announced the appointment of Leo Pareja as its new Chief Executive Officer (CEO), effective immediately. He succeeds Glenn Sanford, who will now fully dedicate his efforts to his position as Founder, Chairman, and CEO of eXp World Holdings.

Leo-Pareja-Headshot
Leo Pareja, CEO, eXp Realty
In an exclusive interview with HousingWire, Pareja talked about the future of eXp. “We’re the clear, dominant player now. We proved our theory, so it’s not a theory anymore. Our growth is proof of concept,” said Pareja. “I think we’re just getting warmed up, and I’m excited to continue to build on the collaborative opportunity that we offer. We’re doubling down.”

Pareja said that his “obsession is operational excellence and a frictionless experience to allow entrepreneurs to build a successful business.”

According to a release, in his previous role as Chief Strategy Officer, Pareja was instrumental in solidifying eXp Realty’s standing in the competitive real estate marketplace. His visionary leadership and remarkable track record has greatly enriched the company’s value proposition to its agents. For example the successful launches of strategic initiatives like eXp Exclusives, Revenos and significant enhancements to eXp Solutions.

On the future, Pareja said, “I explain it as 1.0, which is, we built the model and the opportunity. We’ve arrived, and we’re more than a cool, different model. We’re a model that tried, tested and proven. So, 2.0 is focused on the fact that we will continue to innovate to provide even more value. We will pour into helping agents and teams grow, whether they want to go from 200 to 500 deals, grow a mega team that’s in multiple markets or something else. We are a nationwide, scalable model without boundaries.”

eXp Realty was recently recognized in the top spot in five categories on the coveted RealTrends Verified brokerage rankings report: Transaction Sides, 5 Year Top Movers (Sides), 5 Year Top Movers (Volume), Best Brokerages and Public Independent. The company also moved up to No. 3 in two categories: Volume and Billionaires’ Club.

“Leo’s innovative and recognized industry leadership has elevated our agent-value proposition by reshaping referrals and lead-generation,” said Sanford. “His deep industry experience and influence on our community have been profound, and I trust that under his direction, eXp Realty will further fortify its competitive advantage and deliver unparalleled value to our agents, further cementing our position as a ground-breaking leader in the real estate industry.”

Having joined eXp Realty in 2022, Pareja brings over two decades of real estate experience, highlighted by numerous accolades including recognition in RealTrends The Thousand report, topping the National Association of Hispanic Real Estate Professionals’ (NAHREP) Top 250 list, and being named a 30 under 30 agent by Realtor® Magazine. His entrepreneurial spirit is evidenced by his co-founding of one of the largest private lending companies on the U.S. East Coast and a rapidly growing MLS technology vendor. He has also played significant roles in the National Association of Hispanic Real Estate Professionals, serving as the founding president of the Metro D.C. chapter and later as the national president.

“As we step into this new chapter at eXp Realty, I am honored to lead a company that has always placed innovation and agent success at the forefront of its mission,” said Pareja in a statement. “Together, we will not only continue to redefine the real estate landscape through technology and unparalleled agent support but also empower every member of our community to achieve their full potential.”

Related

10/21/2022

Downsize Cleveland, and The Incorvaia Team, will be hosting it's second Downsizing seminar of the year, on November 13th at the Independence Holiday Inn from 1-3 pm. If you are looking for information to assist you in making an informed decision, we will have experts present in the areas of Residential, Emotional, Medical, Legal and Financial, that will briefly speak on each topic.
If you, or anyone you know, is considering Downsizing, please join us at this FREE event!
Register at: www.downsizecleveland.com

10/06/2022

Register at: www.downsizecleveland.com
Downsize Cleveland, and The Incorvaia Team, will be hosting it's second Downsizing seminar of the year, on November 13th at the Independence Holiday Inn from 1-3 pm. If you are looking for information to assist you in making an informed decision, we will have experts present in the areas of Residential, Emotional, Medical, Legal and Financial, that will briefly speak on each topic.
If you, or anyone you know, is considering Downsizing, please join us at this FREE event!
Register at: www.downsizecleveland.com

Learn how to downsize by attending our FREE DownSize Cleveland Seminar.

09/22/2022

05/05/2022

Downsize Cleveland and The Incorvaia Team will be hosting the first Downsizing seminar of the year on May 22nd at the Independence Holiday Inn from 1-3 pm. If you are looking for information to make an informed decision, there will be experts in the areas of Residential, Emotional, Medical, Legal and Financial that we briefly speak on these topics.
If you or anyone you know is considering Downsizing, come join us at this free event!
Register at: www.downsizecleveland.com

04/09/2022

Real estate licensing differs in the 50 states in the United States. In Ohio, a licensed Realtor has completed 120 hours of education and passed an exam on State and Federal laws. Our profession requires honesty held in place by written rules and continuing education on servicing the public with the highest standards of ethics. However, as in any profession there are good, better, and best. What should you be looking for? You should look for a Realtor in the same way you would look for someone with whom to invest your money: Are they honest? On time and reliable? Listen closely to your needs and directives? Care for your money with the same attention they would for their own? After all, you ARE trusting a professional to guide you in the investment of a lot of money. Granted, most of the time much of the money is given to you by a bank, but the bank is going to want that money paid back and you are going to want to have made a profit in the transaction. You should feel like the Realtor is your advocate and trusted guide in the process.

What are some warning signs: Do you feel rushed or pressured? Do you feel like the Realtor isn’t available or isn’t available to YOU? Are you seeing homes which fit the parameters you have set or do you feel like you are being steered in a direction the Realtor feels is best for you? Are your questions answered clearly and in a timely manner? Do you feel a part of the process or do you feel pulled along by the decisions of others? If you feel any of these — you need to have an honest conversation with your Realtor and get back on track or find a Realtor that better fits your needs.

04/09/2022

Getting a mortgage is a little like getting married: it is a highly intrusive dive into the financials of your life, and you sign a 30-year commitment. Who you choose to trust with the details is very important and goes way beyond an interest rate? But let’s talk about that interest rate: this little number is going to determine how much you pay the bank for the privilege of borrowing money. A 1% difference in an interest rate can mean $100’s of dollars difference in a monthly payment. However, the truth is that there is going to be very little difference between the rates of reputable lenders because they are all getting their money from the same source AND intend to make money on those loans by selling them again on what is called the “secondary market.” Because of this the interest rate on your loan is not an arbitrary or flexible number. For example, if one mortgage broker tells you they can get you a 30-year-fixed mortgage rate of 3.5% and everyone else is at 4.65% – the mortgage broker who offered you the 3.5% has hidden fees somewhere or is in some way going to recoup the money so that they are really making 4.65% with your loan. Confusing? Yes. The other “catch” is that a Broker really can’t tell you over the phone what YOUR rate will be. Why? Because they don’t know YOU. One of the biggest factors in establishing YOUR rate is YOUR credit score. The best way to choose a good loan officer is based on a combination of criteria: interest rates, in-house underwriting, skilled loan officers, and processes in place to serve you and close your loan on time on terms to which you agreed. How do you know which mortgage broker will do this? Ask a trusted Realtor: we do these 100 times a year and know the best mortgage brokers and the ones to stay away from (even if their rates are lower!)

04/09/2022

I get it. You are a DIY-er and you can find lots of great information (and houses!) on the internet so why get tangled up with a high-pressure salesperson? The truth is: you don’t have to. Just like anything else you CAN buy a house without independent representation. And if the homeowner is not using a Realtor, you both CAN buy and sell without any representation. The real question is why would you NOT want a professional on your side? Think of it like buying a car; you CAN buy a car online without assistance. But what if it cost you nothing to be advised on the best choice by an expert who has years of experience with that car? What if a mechanic would look over that car for you to make sure you are getting a car that has a minimum of unseen problems? And what if you got free great advice on what that car will be worth if you decide to sell it in 2-3 years? Wouldn’t that be the better choice for a big investment? It’s the same thing (on an even bigger investment!) when buying a home. Your Realtor is an advocate for YOUR interests with no obligation to the Seller. A good Realtor is not high-pressure, in fact, most Realtors want your business for a lifetime, so they are going to work to earn your trust the FIRST time. Your Realtor doesn’t get paid unless and until you buy a home. So, go with the wise choice: hire a good Realtor.

04/09/2022

One of the most common excuses I hear from downsizing homeowners about not getting rid of “stuff” is this: “I don’t know where I’m going so I’m not sure what I will need or not need.” Can I gently help you? With respect… and very few exceptions… I DO know where you are moving. You are moving to a much smaller space. For most of you your new “space” will be a kitchen, one main living area, one-to-three bedrooms, and one or two bathrooms. You might have a 1- or 2-car garage. If you are moving to a condo you probably will not have a basement. In total you will be living in 1700 or less square feet. If your plans are to move to a retirement community or an apartment, your living space will likely be on the smaller side: 900 – 1100 square feet with only one bedroom.

What does that look like? If you are living in a 2400 square foot two story, imagine living only on the main floor.

With that in mind, you no longer have an excuse. Now you can look at your belongings in your current home and ask yourself “which of my three or four living areas (living room, kitchen, or bedroom/s) will this item go in? If there is not a room for it, it can’t go with you. Sounds simple, but the decision making can be excruciating. The furniture, décor, and household items you own are in your home because at one point you brought them there for use or enjoyment. There is very little you don’t “like” and a lot you are attached to. (And, let’s be honest, most of us are not excited about making the move to begin with, much less pouring salt on that wound by having to rid ourselves of things we love!)

If you have trouble visualizing the new space, go walk through a condominium model home this weekend. Visit an apartment complex and walk through the model of a floor plan you would consider. Or, ask for a tour of the retirement community you are considering. “Feel” the space and visualize where your things will go. Many of these communities will give you a drawn floor plan with room measurements so that you can more accurately and realistically “place” your furniture items.

Storage is at a premium in these kinds of communities. You may have a garage if you’re fortunate, or more likely, a large closet or maybe a storage “bin” in a community area. The days of just “put it in the basement” are gone – every inch must be allotted to the items you use every day.

04/09/2022

I make a living walking through the homes of strangers. I could be an expert witness if Americans could be put on trial for having too much stuff. George Foreman is a very rich man because every household owns at least two of his grills.

I was recently meeting with a homeowner who was ready to downsize. They were selling their 4000 square foot home (with a full basement, full of ‘stuff’) and had begun the “keep, sell, donate, trash…” process of parting with their belongings. I noticed in the “keep” pile several boxes marked “Christmas”. I asked where they were moving. They said to a 1700 square foot condo without a basement. I asked about the large amount of ‘Christmas’ going with them and (she) admitted that she couldn’t bear to part with the décor that had framed this wonderful holiday in their home for over 30 years. And, she said, “We’re not sure what we’ll need in the condo and it would be a shame to have to buy it all again.” True. But I can very competently assure them that they won’t need, nor have room for 16 wreaths.

Downsizing means parting with a lot. In a previous blog (Tip #1: Avoid Tackling Everything at Once) I wrote about thoughtfully sorting through your home and keeping only the items that are essential, you love, or bring joy. In this blog we emphasize the first of that troika of advice: take only things that are essential. And, by extension of that definition: you only need one of most things. While each of 16 Christmas wreaths has a special memory: 15 of them are likely to take up space in a box, never seen at your new home. Pick one.

The kitchen is the sacred Temple of Too Much Stuff. How much dishware does two people (or one) need? How many serving spoons? How many mixers, griddles, pans, or toasters? Probably half of what you own would suffice. And, this is an area that local donation sites would LOVE your stuff. In Cleveland we have ministries and non-profit charities which help immigrant families or working poor get settled into homes. For a tax donation credit you can bless these families with your culinary dust-collectors (and they will get used. Every day.)

Linen closets: when you were raising kids it was necessary to have a linen closet full of sheets and towels. Do you even own the beds anymore that fit the sheets? Will those beds be going with you? Do all of those towels need to go with you? No. Pick the ones you use, love, or bring you joy and donate the rest.

Toys, Games, and Electronics: For decades you have been the Keep of all Things Kids. Now is the time to pass the “stuff” mantle on to the next generation. Most of these things you don’t use, you don’t love them, and they don’t bring you joy. You’re keeping them for the people you love and bring you joy, your adult children. Like the dinner bell call of our grandparents: “COME AND GET IT!!” (Or it will be gone…)