Lance Martin, a Southern California broker with nearly 40 years of experience and 24 years at Coldwell Banker, announced that he and his 140‑agent organization, The Martin Group / Cobalt Realty Group, are joining eXp Realty on March 19, 2026. The move brings a high‑producing team with a strong regional footprint into eXp’s cloud‑based brokerage, which is part of eXp World Holdings, Inc. (EXPI).
eXp’s global platform now includes 83,060 agents as of December 31, 2025, up from 82,704 in July 2025—a 5% year‑over‑year decline that represents the first quarterly growth in a year. The addition of Martin’s team adds a substantial number of agents to a brokerage that has been actively pursuing team acquisitions to counter attrition and accelerate growth in key markets. The Martin Group’s proven production record and long‑term growth trajectory provide eXp with a ready‑to‑scale engine in Southern California, a market where eXp seeks to increase its share of the high‑volume transaction pipeline.
Martin cited dissatisfaction with the “traditional legacy franchise model” and territorial limitations as the primary reason for leaving Coldwell Banker. He views eXp’s agent‑centric, cloud‑based model—offering revenue share, stock ownership, and a boundary‑less platform—as better suited to his organization’s expansion goals. The move underscores a broader industry trend of agents seeking flexible, technology‑driven brokerage structures that empower agents and reduce territorial constraints. eXp’s strategy of integrating AI tools, such as the LYVVE™ search engine and SUCCESS+™ coaching platform, further aligns with Martin’s desire for a platform that supports agent growth and operational efficiency.
eXp’s recent financial performance provides context for the acquisition. In 2025, the company reported revenue of $4.8 billion, a 4% increase, and a net loss of $22.7 million, with an adjusted EBITDA of $33.2 million. Q4 2025 revenue was $1.2 billion, with a net loss of $12.9 million. Management projected 2026 revenue between $4.85 billion and $5.15 billion and adjusted EBITDA between $50 million and $75 million, signaling confidence that prior investments will yield margin improvements. The addition of a high‑producing team aligns with eXp’s focus on scaling its platform, leveraging AI, and expanding into new countries, reinforcing the brokerage’s growth trajectory.
The acquisition is expected to strengthen eXp’s market share in Southern California, a key region for the brokerage’s expansion strategy. By integrating a proven production engine, eXp can enhance its competitive positioning against legacy franchise models and capture a larger share of the high‑volume transaction market. The move also signals eXp’s continued commitment to building a global, agent‑centric platform that attracts top talent and drives long‑term growth.
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