Houston’s Frank Gray Closes His Independent Brokerage and Brings 200 Agents to Join eXp Realty

Houston’s Frank Gray has been in real estate since 1992, eventually opening his own brokerage, Abby Realty, which grew to more than 450 agents in less than four years. But he recently made the decision to align his company with eXp Realty. When asked what led to that decision, he cited two factors: the enormous financial risk and legal liability of being an independent brokerage, plus the inability to provide the unique benefits that eXp provides to its agents.

> See why independent brokerages are flocking to eXp Realty 

“We grew quickly, and were modestly profitable, but I knew that one unfortunate lawsuit could wipe us out financially,” said Frank. “That situation created too much risk for me and my agents.” 

Frank added that he always provided the industry’s best tools, technology and training to his agents, but as an independent brokerage, he could not provide benefits such as a relocation department, an iBuyer program, an international referral network, or access to top producing agents and team leaders from across the country. Alignment with eXp provided immediate access to all these benefits. 

He closed his brokerage and joined eXp Realty in November 2021. 

“I didn’t know a thing about eXp until July 2021,” Frank said, “but once I learned about the unique tools and services they provide to their affiliates, I felt a moral obligation to present the eXp opportunity to my agents.” 

Learn more about Frank Gray:

Years in real estate: Since 1992

Gross sales and transactions in 2021: $607,924,000 in closed sales on 2,844 transactions. 

Brokerage history:

• eXp (November 2021-present)
• Abby Realty (November 2017-November 2021)
• RE/MAX (July 1998-November 2017)
• David Weekley Homes (May 1992-November 1994)

Main territory: Houston, Texas

Number of people on team: 472 agents at Abby Realty; expecting about 200 to make the transition to eXp.

When and why did you join eXp?

“I joined eXp in November 2021. Several agents whom I hold in very high esteem had moved to eXp, namely Jimmy Franklin and Andrew Franklin of The Franklin Team and Adam Olsen and Andrew Ritchie of The Adam Olsen Team. As the owner of an independent brokerage, I was always committed to providing the best tools and services in the industry. However, there were certain things I simply could not provide such as a relocation department, an international referral network, an iBuyer program and 50 hours of live weekly training. Additionally, there was no way I could provide 472 agents with an ownership opportunity in our small company. When my friends, mentioned above, shared with me that eXp provides all these benefits, and more, I knew the only ethical choice was to give my agents the opportunity to join eXp.”

What makes eXp special to you? 

“Two things: the tools and support network that enable agents to sell more homes, plus the stock awards and revenue share program which enable agents to create generational wealth.” 

Is there a significant experience you can share since you joined eXp?

“Before we joined, my wife and I and 25 of our top producers attended the eXp convention in Las Vegas. While we were there, we had the opportunity to meet and talk with Glenn Sanford (Founder and CEO of eXp World Holdings) and Jason Gesing (eXp Realty CEO). Their hospitality, humility and generosity toward our group was something we’ll always remember.”

What is one thing about eXp that surprised you?

“As a cloud-based company, I expected agents to be lone rangers. I’ve been surprised and gratified to see how warmly the eXp family has welcomed us and how many offers of support we’ve received from agents all across the country. There really is a sense of camaraderie that is unique in the real estate world.” 

What kind of collaboration have you experienced at eXp?

“Everyone I’ve met has offered to assist with our transition. Jimmy Franklin, Andrew Franklin, Adam Olsen and Andrew Ritchie have all been on-site at our offices helping to explain the eXp value proposition to our agents. The staff at eXp has been exceptional in their support in getting our agents educated and onboarded to the network.”

__________

Interested in jump-starting your real estate career? Learn how eXp Realty puts agents first.