When Teddy Piper returned home after college in 2012, he wasn’t certain what direction his career would take.

Fourteen years later, he is broker-owner of one of Maine’s top-producing real estate firms — helping guide the David Banks Team at REMAX by the Bay through a record-setting year.

The Portland-based operation ranked No. 40 for transaction sides among medium-sized teams nationwide on the 2026 RealTrends Verified rankings, closing 240 last year. It also placed No. 26 nationally by sales volume, generating $282.15 million in closed business.

For Piper, the achievement reflects a journey that began with a summer internship and led to earning his real estate license in 2014.

“[In 2012] we were just coming out a recession, and I didn’t have a clear path of what I wanted to do with my career, so I got an internship for the summer at REMAX by the Bay,” he told HousingWire. “From there, I never left. I’ve had various different roles, obviously I’ve been an intern. I’ve been in operations and then I joined the team. I worked as David Banks’ assistant, that was my first licensed job with the team, and did that for two years.”

A native of Falmouth, just north of Portland, Piper believes his local roots helped make real estate a natural fit.

“I just knew after getting started with the company that this was a place I could see myself,” he said. “This was an industry I could see myself in. I knew a lot of people and I knew the properties, so it was kind of a natural fit.”

Team evolution

The David Banks Team itself has evolved significantly over the past three decades.

David Banks launched REMAX by the Bay in 1994 and grew it into a prominent regional brokerage that attracted leading agents throughout Maine and New Hampshire.

At its peak, the organization operated three offices and housed nearly 80 agents.

In 2016, Banks streamlined the business by selling the brokerage operations and focusing exclusively on a smaller team model — creating the structure that exists today. Piper became a co-owner in April 2024 alongside Michael Banks, David Banks’ son.

David Banks remains involved as lead broker while gradually stepping back from daily operations and concentrating on consulting and specialty properties.

Today, REMAX by the Bay operates exclusively as the David Banks Team rather than a traditional brokerage.

“We’re kind of a unique organization,” said Piper. “Everyone in our agency is on our team. A former team member and colleague of David’s took a group and opened up REMAX Shoreline nearby, which is kind of our sister office.”

Record performance in 2025

The team’s 2025 performance represented its strongest year yet. According to Piper, the previous high-water mark came in 2022, when the team generated approximately $250 million in sales volume.

The team benefited from strong activity across all business lines — including several high-end transactions that reflected growing national interest in Maine’s luxury market.

“Volume tends to be the number that is most important to us,” Piper said. “Last year was about 15% higher than our previous record. We definitely had a little bit of a slowdown in ‘23 and ’24. Prices didn’t pull back as much, and everything was just a little bit harder to do.”

While luxury sales contributed to the results, Piper emphasized that the team serves the full market spectrum, from new condominium developments to multimillion-dollar waterfront estates.

“Communicate, communicate, communicate and stay in touch as much as you can,” he said regarding agent outreach that works with any client demographic. “Figure out what makes them tick — whether it’s email, a phone call, whether they want to text, whether they want a social media direct message, anything. Every buyer is different in how they like to communicate, so personalize it to them. Some say they want to hear from you every week. Some say, ‘I want to hear from you every time a property comes up.’ Then, some say, ‘I will call you when I want to see a property.’

“I think just getting a good feel for how your client likes to communicate and interact is important. Also, set the expectation of how you want to communicate, and what your service is going to be, and just make sure up front that everyone’s very clear about what the process is going to be.”

Culture as a growth strategy

The team currently includes nine agents, three administrators and an in-house staging professional.

Piper views the staging operation as a competitive advantage, but he believes culture has been the primary driver of growth.

“We’re fully collaborative,” he said. “Everyone gets everyone gets paid — regardless of who sells the property. So, we work together to get these deals done. A lot of teams, they set up distinct hierarchies and distinct roles for each agent, and we certainly have roles and structure for our agents. What we don’t have is, ‘You get this lead and you get this lead.’ We all work together to make sure the deal closes.”

For a leader who started as an intern without a clear career path, the team’s national recognition marks both personal and organizational growth.

As broker-owner, Piper now helps steer the same company where he first got his start — continuing a succession story that has positioned the David Banks Team among the nation’s highest-performing real estate organizations.

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