Compass went global with the acquisition of @properties and Christie’s International Real Estate in December. The deal, reported to be worth $444 million, is expected to be finalized in 2025.
However, according to @properties Christie’s International Real Estate CEO Thad Wong, “Things will not change on a day-to-day basis.”
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 also includes the businesses Proper Title, Proper Rate and Suburban Jungle and the Christie’s International Real Estate brokerage, which was acquired in late 2021. @properties rebranded as @properties Christie’s International Real Estate in early 2022.
Christie’s International Real Estate, meanwhile, maintains more than 100 independently owned domestic and international affiliates across 50 countries and territories.
Both the @properties and Christie’s International Real Estate brands “will absolutely endure,” Wong said, operating as “separate brands and business units.” That means Wong and his Co-CEO Mike Golden will continue in their roles, and @properties offices across Chicagoland will not be consolidated with Compass. Similarly, all Christie’s International Real Estate affiliates, whether company- or independently owned, will retain their exclusive use of the brand.
“We are not thinking of downsizing,” Wong went on. “Our goal is to grow these businesses.” That growth may eventually include tech enhancements, although there are no current plans to switch @properties and Christie’s International Real Estate agents to Compass’ tech deck.
Since the news broke, Wong said, “The response has been overwhelmingly positive.” He also emphasized that @properies, in particular, will maintain its “own unique identity, essence and soul.”
Sources inside the company said there was a surprise when the deal was announced, but agents and staff mostly returned to business as usual shortly after.
“The things that have defined the brand and made us a local favorite for 25 years – innovation, an uplifting culture, strong supportive leadership, a local spirit, and ‘love’ – will continue to define us,” Wong said.
In a statement, Compass Founder and CEO Robert Reffkin shared a similar sentiment. “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,” Reffkin said.