N
ancy Almodovar founded Nan and Company Properties from her kitchen table with a vision for luxury real estate in Houston. Over the past decade, she has grown the company to four offices and secured an exclusive affiliation with Christie's International Real Estate. However, Almodovar was caught off guard by Compass' acquisition of @properties, Christie's parent company.

    Compass announced it would acquire @properties for $150 million in cash and 44 million shares, representing a significant stake in the company. Despite this, brokerages under the Christie's umbrella will operate independently from Compass. In Texas, affiliates were quick to reassure their agents that business would continue as usual.

    Romeo Manzanilla, CEO of @properties Christie's in Austin, stated that existing affiliates would remain independently owned and operated, with little influence from Compass. This means they can maintain control over their markets and proprietary technology. Manzanilla views the acquisition positively, citing it as an opportunity to stand out due to limited access by Compass agents.

    The main concern lies in potential misconceptions about Compass' involvement in Christie's dealings and the extent to which Compass agents can utilize the international brand. According to Manzanilla, this is largely a non-event for Compass agents, who will not be able to leverage the branding or marketing enjoyed by Christie's agents.