Compass Inc. (NYSE: COMP), Christie's International Real Estate, and @properties have announced their decision to join forces, aiming to accelerate domestic and international growth opportunities. As a result of this partnership, Christie's International Real Estate will bring its global network of 100+ independently owned domestic and international affiliates across 50 countries and territories, while @properties will contribute as the 8th largest residential brokerage in the United States by sales volume, operating in greater Chicago, Indiana, Michigan, Wisconsin, and metro Atlanta (through the Ansley Real Estate brand).
Furthermore, @properties’ northern California operation, under the Christie's International Real Estate Sereno brand, will become an independent brokerage while maintaining its network affiliation. The addition will also include best-in-class title and mortgage businesses, namely Proper Title and Proper Rate, as well as a lead-generation business, Suburban Jungle.
Compass, the largest residential real estate brokerage in the United States by sales volume, plans to continue growing the independent affiliate network through the Christie's International Real Estate brand, both domestically and internationally. This partnership aims to empower strong independent brokerages and broker-owner entrepreneurs around the world who are affiliates under Christie's International Real Estate.
Compass will be hosting an investor conference call on Monday, December 2, 2024, at 5 p.m. ET to discuss the transaction details, with the conference call being accessible via the internet on the Compass investor relations website. The specific financial details and metrics related to this transaction can be found in the SEC filings and events & presentations sections of the Compass investor relations website.
The market has reacted to these announcements by moving the company's shares 0.7% to a price of $7.14. For more information, read the company's full 8-K submission here.
