Success Story Podcast: Episode with Leo Pareja, CEO of eXp Realty

Release Date: March 11, 2025
Host: Scott D. Clary

Introduction

In this episode of the Success Story Podcast, host Scott D. Clary engages in an in-depth conversation with Leo Pareja, CEO of eXp Realty (EXPI), and his wife, Ariana Parejo. The discussion delves into Leo's remarkable journey in the real estate industry, his entrepreneurial mindset, and the transformative strategies that have propelled eXp Realty to the forefront of the market.

Early Career and Inflection Points

[08:24] Leo Pareja: "Let's kick it off here. Think of an inflection point. It could have been somewhere along your career path..."

Ariana Parejo shares her initial ambition to become a graphic designer during her college years but soon realizes the volatility of the tech job market. Inspired by Robert Kiyosaki's Rich Dad Poor Dad, she pivots towards real estate, recognizing the potential for leverage in people, time, and money. At just 19, Ariana invests $10,000 in a real estate training program, marking one of her first bold entrepreneurial moves.

Notable Quote: [11:38] Ariana Parejo: "The concept of leverage of people, time, and money fundamentally shifted my perspective. There's an alternative to trading dollars for time."

Sales Philosophy and Techniques

Ariana emphasizes a consultative approach to sales, focusing on qualifying prospects by identifying their genuine needs rather than using aggressive tactics. This strategy not only fosters trust but also leads to long-term referrals.

Notable Quote: [15:08] Ariana Parejo: "All human beings make emotional decisions and then justify them logically. That's why qualification upfront is crucial."

Leo echoes this sentiment, contrasting traditional sales methods with Ariana's refined approach, highlighting the effectiveness of problem-solving over manipulation.

Growth and Scaling Businesses

Ariana's prowess in real estate sales quickly becomes evident as she transitions from her first successful summer selling 11 homes and earning $60,000 in commissions to becoming the top Keller Williams agent worldwide, closing 4,000 deals. Her entrepreneurial ventures include building Washington Capital Partners, a $2 billion private lending firm, and co-founding Remine.

Notable Quote: [24:16] Ariana Parejo: "Within two years as a full-time agent, I made about $300,000 in gross commissions, significantly higher than the industry average."

Navigating Market Crises and Resilience

During the financial crisis of 2005-2006, Ariana experienced a drastic fluctuation in her net worth, teaching her invaluable lessons about over-leverage and the importance of sustainable growth. She discusses the necessity of adapting to market changes and leveraging wisdom gained from past experiences to navigate future challenges.

Notable Quote: [26:27] Ariana Parejo: "There's a whole lot of crying, but the lesson learned was resilience and deciding whether to stay in the market or pivot."

Transition to eXp Realty and Innovation in Real Estate

Ariana explains eXp Realty's disruptive cloud-based brokerage model, which eliminates the need for physical offices, significantly reducing overhead costs. This innovative approach attracted thousands of agents during the COVID-19 pandemic, positioning eXp Realty as a leader in the virtual real estate landscape.

Notable Quote: [62:29] Ariana Parejo: "We were able to legally comply with state rules and create a fully virtual environment, eliminating the biggest expense—physical office space."

Leadership and Team Management

Ariana emphasizes the importance of self-awareness and understanding team members' unique strengths through tools like the DISC profile. By tailoring incentives and communication styles to individual personalities, she fosters a supportive and efficient work environment.

Notable Quote: [75:33] Ariana Parejo: "Understanding how others are wired allows you to lead more effectively and create a positive workplace culture."

Embracing Technology and AI in Real Estate

The discussion highlights the transformative impact of technology and AI on real estate operations. Ariana shares how eXp Realty leverages AI to streamline processes, enhance efficiency, and reduce costs, aiming to cut operational expenses by up to 80%.

Notable Quote: [112:05] Ariana Parejo: "AI is as transformative as the internet and mobile technologies were. It enables us to streamline processes and significantly reduce per-unit costs."

Lessons and Wisdom for Entrepreneurs

Ariana imparts crucial entrepreneurial insights, emphasizing consistency over innate talent, operational excellence, and the importance of focusing on high ROI activities. She advocates for creating painkiller products—solutions that address urgent needs—over mere vitamins that offer supplementary benefits.

Notable Quotes:

• [119:52] Ariana Parejo: "Consistency beats special talent. Overworking consistent efforts surpass sporadic bursts of genius."
• [122:50] Ariana Parejo: "Ensuring your product solves a real pain point makes it indispensable to your customers."

Defining Success Today

Ariana redefines success as the ability to spend meaningful time with loved ones, prioritizing personal relationships over traditional business accolades. She acknowledges the emotional highs and lows of entrepreneurship but values the overall fulfillment derived from achieving balance.

Notable Quote: [127:22] Ariana Parejo: "Right now, success means being able to spend time with the people I care about and not missing the moments that matter."

Final Thoughts and Advice

Ariana concludes by encouraging entrepreneurs to embrace the journey with all its challenges, emphasizing the importance of enjoying the ride and maintaining a balanced perspective on success and personal fulfillment.

Notable Quote: [130:55] Ariana Parejo: "99% of everything we fear or keep up at night over is irrelevant later. Focus on what truly matters and enjoy the ride."

Closing Remarks

The episode wraps up with Ariana directing listeners to connect with her through various social media platforms and highlighting her personalized approach to helping realtors succeed. Leo Pareja and Ariana Parejo's combined experiences offer a wealth of knowledge for entrepreneurs and real estate professionals aiming to navigate the complexities of the industry with resilience and innovation.

Connect with Ariana Parejo:

• Instagram: Ariana's Instagram
• LinkedIn: Ariana's LinkedIn
• Facebook: Ariana's Facebook
• Podcast: Realtor-Focused Podcast

This comprehensive discussion between Scott, Leo, and Ariana Parejo provides invaluable insights into building and scaling a successful real estate business, emphasizing the importance of adaptability, technology, and personal fulfillment in the entrepreneurial journey.