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hristie's International Real Estate Sereno has regained its independence after a merger between @properties and Compass was approved. The brokerage will now be the largest locally owned and operated firm in Northern California, with $5.5 billion in sales projected for 2024. As part of the separation, Christie's Sereno will maintain exclusive rights to the Christie's brand across all its current markets.

    Founded by Chris Trapani and Ryan Iwanaga in 2006, Sereno had been a Christie's affiliate since partnering with @properties in 2022 but maintained operational independence. The founders negotiated and closed the company's re-acquisition within a month of learning about the Compass merger for an undisclosed sum. It will take several months to fully disentangle its back-end from @properties.

    Sereno will remain part of the Christie's affiliate network but be owned and operated independently. Trapani stated that both @properties and Compass were supportive of the buyback, and he has received positive feedback from other independent broker owners. He emphasized the importance of having a strong Christie's representative in the Bay Area and highlighted Sereno's status as one of the top Christie's affiliates globally.

    The company will focus on recruiting more agents within its existing territories rather than expanding into new markets. Trapani noted that exclusivity is crucial for maintaining the Christie's brand, and he clarified that offices like Christie's San Francisco or Christie's Wine Country are owned by Sereno, not Compass.

    Trapani and Iwanaga have been friends since childhood and followed their fathers' entrepreneurial models by entering real estate in the 1990s. They started Sereno 18 years ago with four top regional producers from Coldwell Banker after becoming disenchanted with corporate brokerages. The duo felt pressure to form partnerships as they watched other independent brokerages go corporate, leading them to partner with @properties in 2022.

    The partnership brought Christie's luxury brand and expanded the company's reach, but Trapani and Iwanaga are now focused on rebuilding Sereno's infrastructure and scaling its growth without sacrificing company culture. They aim to make the most of their unexpected chance to return to independence and rekindle the "rebel soul" that defined the company when it was founded.