Key facts
- The David Banks Team at REMAX by the Bay ranked No. 40 nationally for transaction sides among medium-sized teams.
- The team closed 240 transactions in the past year.
- The team ranked No. 26 nationally by sales volume, generating $282.15 million.
- Broker-owner Teddy Piper started as an intern at the firm in 2012.
- Piper became co-owner in April 2024.
- The team operates with a collaborative culture where all members are compensated regardless of who closes the deal.
The David Banks Team at REMAX by the Bay has achieved a record-setting year, securing the No. 40 spot nationwide for transaction sides among medium-sized teams and No. 26 for sales volume, with $282.15 million in closed business, according to the 2026 RealTrends Verified rankings.
Broker-owner Teddy Piper, who began as an intern at REMAX by the Bay in 2012, attributes the firm's success to a collaborative culture and personalized client communication. Piper earned his real estate license in 2014 and worked as David Banks' assistant for two years before taking on various roles within the company. David Banks founded REMAX by the Bay in 1994, and after selling the brokerage operations in 2016, the business evolved into the current team model. Piper became co-owner in April 2024 alongside Michael Banks, David Banks' son.
The team's 2025 performance marked its strongest year, surpassing the previous record of approximately $250 million in sales volume set in 2022. The success was fueled by strong activity across all business lines, including several high-end transactions reflecting growing interest in Maine's luxury market. Piper emphasized that the team serves the entire market spectrum, from new condominium developments to waterfront estates, and stressed the importance of personalized communication with clients.
The David Banks Team currently comprises nine agents, three administrators, and an in-house staging professional. Piper views the team's collaborative structure, where all members are compensated regardless of who closes a deal, as a primary driver of growth and a competitive advantage.