People on the Move: eXp taps VP for growth; OREA leader resigns
Troy Palmquist will oversee a product team, commercial real estate and more for eXp; Tim Hudak is stepping down as Ontario association CEO effective August 2.
Editor's note: As an industry with millions of agents and over 100,000 brokerage companies, new leaders rise to the top every day. Here we highlight executives and other notable leaders who've recently taken on, or stepped away from, roles that influence the residential real estate landscape.
eXp elevates growth director to VP role
eXp Realty announced last week that Troy Palmquist will be the brokerage's new VP of growth and product marketing.
The news coincides with the departure of eXp's chief growth officer, Michael Valdes, who left the company to helm the upstart firm LPT International Realty.
Palmquist joined eXp in 2023, bringing his 30-agent Doora Properties team to the company and taking on the role of director of growth in California. Throughout his real estate career, Palmquist has founded two independent brokerages and sold thousands of properties, according to a news release, and considers eXp to be "a true category disruptor."
As VP, Palmquist will oversee multiple real estate divisions at eXp, including commercial and land and ranch, and lead a product marketing team.
"Troy's leadership and deep understanding of the real estate industry will be invaluable as we continue to scale our marketing strategy and support our agents," said Wendy Forsythe, eXp's chief marketing officer.
Ontario association CEO announces departure
The leader of one of Canada's largest real estate associations is stepping down as CEO. In a letter posted on the Ontario Real Estate Association's website on July 23, Tim Hudak announced that he would be resigning effective August 2.
Hudak joined OREA as CEO in 2016 following a career in government, and he was recently recognized for his leadership in the SP 200, a list of the most influential people in residential real estate.
In his public letter, Hudak noted that he originally intended to lead OREA for just five years, "with a goal of delivering high impact advocacy, greater profile for the organization and refreshed, practical products to support Realtors as they connect people with a great place to call home."
He highlighted the association's accomplishments during what ultimately became his seven-year tenure, including the Trust in Real Estate Services Act, a wellness program and organizational improvements.
"I will be forever a champion of the Canadian dream of homeownership and the extraordinary work Ontario Realtors do in helping people get the keys to a great home," Hudak wrote.
The association supports nearly 100,000 members in Canada's most populous province. OREA has not yet announced Hudak's successor.