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ompass Inc., the leading brokerage by sales volume according to RISMedia's 2024 Power Broker Report, is acquiring @properties Christie's International Real Estate for $444 million in a move that will accelerate domestic and international growth opportunities.

    The partnership aims to empower strong independent brokerages worldwide who are affiliates under Christie's International Real Estate. Compass founder and CEO Robert Reffkin stated that this deal will allow them to build a company that better serves homeowners, giving them the same advantages as big real estate developers and homebuilders.

    @properties Christie's International Real Estate is the eighth-largest brokerage by transaction volume. The acquisition expands Compass' business into high-margin independent affiliate services under the Christie's brand, allowing entry into international markets with minimal capital investment. This also adds the eighth-largest U.S. brokerage to Compass' platform, bolstering local scale and inventory advantage in key markets.

    Reffkin emphasized that this deal is part of their "30-30" strategy, aiming for 30% market share in their top 30 markets through exclusive listing platforms not on the MLS. The acquisition will also accelerate Compass' integrated services strategy by adding title and mortgage businesses with above-industry-average attach rates.

    Compass plans to continue growing its independent affiliate network through the Christie's brand both domestically and internationally, expanding into luxury international markets like Paris, London, and Dubai. @properties will maintain its leadership and operations under the Christie's International Real Estate Sereno brand in Northern California.

    The acquisition is expected to be transformational for Compass, adding high-margin businesses, expanding the total addressable market, and accelerating their strategy. The transaction is expected to generate adjusted EBITDA margins of approximately 9% – 10% in the first year, even in a slow market.