COMPASS is going global with the acquisition of @properties and Christie’s International Real Estate.
The deal is reported to be worth $444 million.
Headquartered in Chicago, @properties is the eighth-largest residential brokerage in the United States by sales volume, operating out of Illinois, Indiana, Michigan, Wisconsin and, through the Ansley Real Estate brand, the Atlanta metro. The firm acquired Christie’s International Real Estate in late 2021 and rebranded as @properties Christie’s International Real Estate in early 2022.
Christie’s International Real Estate, meanwhile, maintains 100+ independently owned domestic and international affiliates across 50 countries and territories. (Their Christie’s International Real Estate Sereno brand, in Northern California, will become an independent brokerage with “network affiliation” following the recent news.)
“This partnership will allow us to empower strong independent brokerages and broker-owner entrepreneurs around the world who are affiliates under Christie’s International Real Estate,” COMPASS Founder and CEO Robert Reffkin, said in a press release. “Our companies share the same passion for empowering entrepreneurial agents. Together, we will be able to provide unparalleled resources and support to help everyone succeed and deliver exceptional client experiences.”
“COMPASS shares our commitment to enhance the real estate industry through technology, marketing, and exceptional service and to embrace the local, independent broker through the Christie’s International Real Estate and @properties brands,” @properties Co-CEO Thad Wong added. “This is a very complementary union that respects our unique brands and empowers agents to provide an even better experience for the clients they serve.”
This move will also include the connected title and mortgage businesses Proper Title and Proper Rate, as well as the lead-generation business, Suburban Jungle.
Editor’s note: This story is developing and will be updated as new information becomes available.