Leo Pareja takes CEO role at AGNT as existing sales stall

Leo Pareja has taken over as chief executive officer of AGNT, Incorporated, replacing founder Glenn Sanford, RISMedia and RealEstateNews.com reported. Sanford, who led the parent company of eXp Realty and NextHome for two decades, will remain as chairman of the board, according to RISMedia and Business Insider. [2][4][5]

Speaking at eXp Con on Thursday morning, Pareja stated that the housing collapse has already happened and urged the industry to accept current conditions, HousingWire Agent reported. HousingWire Agent noted that Pareja warned existing home sales could drop below four million units in 2027 if mortgage rates reach eight percent. [1]

Pareja explained that artificially low mortgage rates following the Great Recession and during the COVID-19 pandemic effectively stole tomorrow buyers, HousingWire Agent reported. He stated that these historical policy responses locked the housing market into its present baseline of four million annual existing home sales, according to HousingWire Agent. [1]

The executive transition marks the next phase of growth as AGNT expands its local and international footprint, RISMedia reported. Company leadership intends to scale operations while adjusting to prolonged high interest rates, according to RISMedia. [2]