A Welsh estate agency has rebranded itself and embraced the broker model, it has been revealed.

The Peter Morgan Property Group, which has a single branch in Neath, outside Swansea, has today made the transition, renaming itself MRE ‘powered by eXp’.

Its sole director, Jonathan Morgan, says joning eXp UK provides his firm with the tools, resources and support to “evolve in line with the modern real estate market, whilst maintaining the autonomy and flexibility to continue building the business with our existing values at its core.

“The global reach and innovative model that eXp Realty provides will enable our agents to achieve even greater success, and we’re excited to help drive the changing face of the UK property sector as we introduce the rebranded ‘MRE powered by eXp’ to our clients.”

South Wales

Morgan’s estate agency covers the whole of South Wales and at one point had four branches but in 2020 centralised these down to one ‘super office’ in Neath, framing not as a ‘downsizing’ but a “reimagining: a smarter, faster, more agile Peter Morgan Group, ready to lead in a digital-first market”.

Adam Day, Head of eXp UK, says: “This partnership is a pivotal moment for eXp UK and a testament to the continued growth of our innovative brokerage model.

“The Peter Morgan Property Group’s strong presence in the market is a perfect fit for eXp’s platform, and we are excited to see the team thrive under the new brand of MRE powered by eXp.”

The Welsh firm had a difficult start to the  year – at the end of January it was discovered that a former employee had executed a ‘complex fraud’ and for a while payments to landlords were disrupted while a new lettings team after several staff members were ‘removed’.