Real estate committee recommends hiring eXp Realty to market district properties

The St. Louis Public Schools real estate committee moved to recommend that the full board approve a contract with eXp Realty to serve as the district's real estate broker under a one‑year agreement with two one‑year renewal options.

Committee members advanced the recommendation after a 40‑minute presentation and Q&A with the two eXp representatives, who described the firm's experience marketing institutional and distressed properties and outlined outreach and pricing strategies.

Shawnee Ward, eXp Realty commercial liaison, told the committee she and colleagues “were REO brokers for 12 years” and said eXp has worked with Bank of America, Fannie Mae and HUD asset programs. Ward said the team holds a certification in distressed properties (described in the presentation as a CPD) and that eXp maintains a REO division and ongoing training to handle sensitive, time‑constrained sales.

The presentation described a multi‑channel marketing approach: listings on company and commercial platforms, national commercial services such as CoStar, targeted outreach to an investor and nonprofit network and localized outreach (open houses and phone outreach) to brokers and community partners. Ward said eXp will produce photos, property write‑ups and comparables and “help us identify buyers” who match a given property and its condition.

Committee members pressed the presenters on several recurring issues for school property sales: long‑running contingent deals tied to tax credits, the existence and effect of deed restrictions, how the firm would involve neighborhood residents and how pricing would reflect significant structural damage or demolition scenarios. Ward said appropriate pricing for a property's condition and well‑documented condition reports — including structural assessments when needed — are critical to attracting viable buyers and avoiding prolonged contingent transactions. She advised that, when necessary, eXp would seek engineering documentation so buyers and sellers work from shared information.

Board member Tiffany Watson moved to recommend hiring eXp Realty; a second was recorded and the committee proceeded to vote. Several committee members voted in favor and one member recorded a no vote during the roll call. Committee members then discussed next steps for sending the recommendation to the full board for final approval.

Why it matters: the district has multiple vacant school buildings that administrators plan to sell or repurpose. The chosen broker will shape buyer outreach, pricing strategy and the district’s communications with neighborhoods, developers and nonprofit buyers.

The committee's recommendation will be forwarded to the full St. Louis Public Schools board for final action; no final district contract takes effect until the full board acts.