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ompass, the real estate brokerage giant, is reportedly in advanced talks to acquire HomeServices of America, a key player in the residential real estate space and part of Warren Buffett's Berkshire Hathaway empire. This move would be Compass' latest pursuit of a large competitor, following its acquisition of @properties Christie's International Real Estate for $444 million in January.
Compass has been aggressively expanding its private listing network, which now features around 7,500 listings, according to CEO Robert Reffkin. The company has also been vocal about its opposition to the Clear Cooperation Policy, a topic that will soon be decided by the National Association of Realtors.
Under Reffkin's leadership, Compass has undergone significant changes, including slashing expenses and improving its platform. This effort has led to a substantial increase in agent count, with 17,752 principal agents at the end of 2024, up nearly 21% from the previous year. The company's revenue also saw a notable jump, reaching $1.4 billion during the quarter.
The proposed acquisition of Berkshire Hathaway HomeServices would be a significant step for Compass, as it would add over 50,000 agents and more than 1,500 offices worldwide to its network. However, this move raises questions about the potential impact on the Gibson commissions lawsuit, in which Compass reached a $57.5 million settlement but Berkshire Hathaway Energy remains a defendant.
HomeServices of America is part of a larger empire led by Warren Buffett's Berkshire Hathaway Energy, and an acquisition would likely have significant implications for the company. The deal has not yet been finalized, and a representative from Compass declined to comment on the matter.
