Pemberton and Advisory Realty’s Shocking Merger: What This Means for Minnesota’s Real Estate Market!

Above: Parker Pemberton

Parker Pemberton, founder and CEO of Pemberton Real Estate, has announced a significant merger with AJ Pettersen and the Advisory Realty Group, a leading real estate team in Minnesota. This strategic alliance marks a pivotal moment for Pemberton Real Estate, expanding its scale and market presence and positioning the firm among the largest and fastest-growing independent residential brokerages in the region.

The merger follows Pemberton Real Estate's decision in October 2025 to operate independently after breaking away from eXp Realty, where it experienced rapid growth. Pemberton expressed his enthusiasm about the partnership with Pettersen, stating, “AJ is one of the most respected leaders in our marketplace and someone I align with deeply in values, ethics, and leadership philosophy.”

With an impressive track record, Pettersen and the Advisory Realty Group closed nearly 600 transactions in 2025, totaling over $230 million in sales volume. This achievement ranked them among the top five teams in Minnesota and within the top 75 nationally across all brokerages. The merger will facilitate Pemberton Real Estate's expansion into the Hopkins/St. Louis Park market, further bolstering its status as a billion-dollar-plus company with a growing roster of over 275 agents across Minnesota and Western Wisconsin.

Pemberton emphasizes that this merger is part of a broader strategy to provide substantial value to real estate agents, enabling them to grow their businesses year-over-year. He believes that strong independent brands are vital for agents seeking alternatives to the increasingly consolidated national brokerage landscape. “If you don’t want to be part of something like the Anywhere/Compass merge, there needs to be a strong option locally for you to participate in, and we’re trying to be that option,” he stated.

Since entering the real estate industry in 2016, Pemberton has navigated various stages of growth, from becoming a successful agent to leading a high-performing team. He notes, “We started as a team, growing even more successful, and we kept a healthy profit margin along the way so we could continue to reinvest into the agents and into building value.” This approach led to Pemberton Real Estate becoming the number one team in the country at eXp Realty in 2024.

Pemberton describes 2025 as a crucial year, stating, “It was a ‘prove yourself’ year, and we did it again in both units and volume. That was my sign that we were internally running our own ship and it was time to go independent.” He emphasizes that his firm offers a high-service model for agents that is distinct within the local market.

Pettersen reiterates this vision, stating, “Parker and I share a strong belief that agents thrive when leadership is accessible, decisions are made locally, and the focus stays on building sustainable businesses.” The merger enables both leaders to accelerate their commitment to adding value for agents and consumers alike.

Founded in Edina, Minnesota, Pemberton Real Estate serves over 3,000 clients annually across Minnesota and Western Wisconsin. Pemberton notes that the Twin Cities market shares some fluctuations with other major markets, but the highs and lows are not as drastic. “It’s a neutral market right now, where buyers still have the advantage, but sellers can still sell at the right price,” he explains. He acknowledges the cyclical nature of the market, especially considering Minnesota's winters, which can slow activity.

Pemberton's excitement for the future is palpable. He believes that while the past three years have been challenging for agents, there is hope for a gradual improvement in the market. “I think the market is going to get better, and while the last three years have been horrendously tough for agents, I’m excited that there’s going to be a little reprieve there for them,” he expressed.

As Pemberton looks ahead, he is optimistic about the potential for growth and collaboration with other companies. “We’ve had 100% year-over-year growth consecutively—2024, 2025—and now that we’re combining with Advisory, it’s only going to make us stronger,” he concludes. “I’m looking forward to more opportunities like this where we can continue to partner with other great companies and go farther together.”