Above, Parker Pemberton
Parker Pemberton, founder and CEO of Pemberton Homes with eXp Realty in Minnesota, eXp’s top team worldwide and the North Star State’s top team statewide, has announced the 200+ agent team Pemberton Homes is going independent under the brand name PembertonRE.
Pemberton founded Pemberton Homes, a real estate company out of the Twin Cities of Minnesota, in 2018. He says the company holds the records as the number-one team in the state across all brands, as well as the number-one team worldwide at eXp Realty by transaction count for the second-consecutive year and the number-one team worldwide at eXp Realty for sales volume. The company also has an independent title, mortgage, insurance and investing arm.
The team, which operates from seven offices, is on track this year to exceed $800 million in sales volume and over 2,000 homes closed in a team model, with team margins, he says.
“We’ve hit our ceiling and now it’s time to expand further,” Pemberton says, “Today, we start a new chapter in our journey.”
He said his time at eXp Realty allowed the team to experience 20 times growth in the seven years they were with the company, adding, “Without exp I don’t believe our growth would’ve matched what it was, and I will cherish and be grateful for all the relationships that have been created.”
They’re making the move he says because the team has reached a point where it makes sense to branch out and continue to grow. “We’re excited to see where we can take this next,” he says.
Part of that includes growing the PembertonRE firm by focusing on how to help agents succeed at the highest level. “Education, accountability, and environment are three focal points for us,” Pemberton says. “We want our agents to have the very best and all you have to do is be a guest at one of our Tuesday meetings and you’ll see for yourself.”
Technology will also play a key role as the team takes on its next iteration.
“The way real estate is being transacted for agents is changing almost quarterly,” he says. “With the emergence of technology and AI, the game is changing. An agent must adapt, or they’ll be left behind and I don’t want any agent at our company to feel left behind or unsupported.”
The new firm’s plans also include growth by acquisition, as the company is currently working on several M&As that will be announced later this year, Pemberton says.
He credits the team’s business model of putting the agent at the forefront of every initiative as the catalyst for big results, including 110% year-over-year growth in transaction count and sales volume over last year. “We believe in growing people, not just transacting real estate,” he says, adding he always envisioned a model where an agent did not have to go outside the walls of the brokerage to access services, vendors, lead generation or world-class training.
“When I joined my first brokerage, they gave me a handbook and a cubicle and said good luck,” he says. “I quickly found out the brokerage wasn’t going to supply me with things like lead generation, personalized coaching from someone who’s actually done the thing I was trying to do, access to internal transaction coordinators, listing coordinators, marketing support, videography, etc. I had to go outside the brokerage to hire coaching, marketing consultants, independent transaction coordination companies, staging, design, all the services.”
He’s making sure those business needs are met as well as continuing a company culture that creates a motivated and supported environment for the good of the team and ultimately, their clients.
“Every service an agent could need is inside the walls at PembertonRE, a la carte style,” he says. “From listing photography and media, agent videography, personal branding, and steady incoming leads, to coaching and mentoring from leaders who are in the trenches with the agents. The culture is one that revolves around personal development and lifting agents up, challenging them to be better human beings, as we believe that an agent who is constantly improving personally and professionally is going to make a bigger impact on our clients and provide an elevated experience.”
He acknowledges the move to go independent is a big and exciting step in the company’s future and credits company COO Liz Rein “who’s been with me since day one” when he started in the business in 2016, as well as mentor Anthony Lamacchia, founder, CEO and broker of Lamacchia Companies, as key supporters of the move.
“Leadership to me isn’t about hitting bigger numbers; it’s about growing better people,” he says, emphasizing that in today’s tumultuous real estate environment where massive companies are consolidating, having the freedom and flexibility as an independent firm can be a beacon for agents looking for a fresh start.
“Agents need stronger local leadership more than ever right now,” Pemperton says. “We are in ‘distraction season’ as I have been calling it—COVID, interest rates, NAR lawsuits, mergers, and now it seems consolidation through acquisition nearly weekly. We intend on being that strong local independent brand to give agents another option and become a staple in our marketplace.”
