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tephen Baird, CEO of Baird & Warner, has witnessed numerous brokerage giants rise and fall over the years. He believes a similar scenario may be unfolding with Compass' acquisition of @properties in Chicago. Despite Compass gaining significant market share, Baird is confident that his local leadership and investment will give him an advantage.

    Baird disputes Compass' claim that private listings are about seller choice, calling it "BS." He doesn't foresee a major battle over office exclusives in Chicago either. Instead, he argues that consistency and stability can help brokerages weather competitive storms, but having leaders who are fully vested in the company's success is key.

    Baird has seen many brokerages come and go, including RE/MAX, Coldwell Banker, and Berkshire Hathaway HomeServices, which once dominated the Chicago market. However, they eventually became "a non-factor" due to poor leadership. Baird thinks Compass may face a similar fate, as its leaders are no longer invested in the company's success.

    Following a major merger or acquisition, Baird believes it's only a matter of time until leadership turns over and the culture changes. The founders are eventually replaced by corporate managers who lack the same level of commitment. "When your name's on the door and you're paying the bills... you're a lot more focused," Baird said.

    Baird is focused on maintaining his position as a top brokerage in Chicago, rather than chasing market share. He believes that big corporations can't deliver the same level of service as local, independent brokerages like Baird & Warner.