M
ike Golden was working in human resources at Encyclopedia Britannica, while Thad Wong worked at the Chicago Mercantile Exchange and finished college at night. Both were far from their future careers as real estate agents. However, about 30 years ago, Golden connected with Property Consultants after buying a home through the company, and Wong discovered the firm when he bought a house on the same block as its office. A few years later, both men worked full-time as real estate agents at Property Consultants.

    The pair received an ultimatum from a large developer: leave the company or lose their business. With limited experience in real estate, Golden and Wong launched @properties in 2000. Starting as a Chicago-based firm with only local presence, @properties has grown into the largest residential real estate brokerage in the Chicago region and the eighth-largest in the US by sales volume.

    The company was sold to Compass in January after being acquired by Christie's International Real Estate in 2021. The acquisition comes at a time of change in how homes are bought and sold, with the National Association of Realtors agreeing to settle massive class-action antitrust lawsuits filed by home sellers who argued they were forced to pay inflated commissions.

    Golden and Wong, still co-CEOs of @properties, discussed their company's evolution as it celebrates its 25th anniversary. They talked about their decision to sell to Compass, the future of real estate, and how consumers will be affected by the acquisition.

    When asked about the premise behind @properties, Thad Wong explained that they aimed to provide exceptional marketing and consistency for agents, doing what they're not good at when it comes to business-building practices. Mike Golden added that they wanted to create a technology-forward thinking company, which was reflected in their name.

    The pair attributed their success to perpetual growth mode in every facet, including technology, marketing, and culture. They emphasized the importance of always trying to evolve and improve, never sitting back and saying they've figured it out.

    Golden and Wong discussed how the acquisition of Christie's changed their company, recognizing that the brand resonated with consumers. They also talked about why they decided to sell to Compass after years of rivalry, citing cultural alignment and a shared vision for the business.

    Regarding the future of real estate, Thad Wong stated that companies are positioning for search and monetizing consumers in various ways. Mike Golden added that consolidation is inevitable due to technology and changing agent needs, but there will still be plenty of competition for consumers.

    As @properties prepares to open its first South Side office, residents feel torn about the influx of development. The company's sale to Compass was announced in December, followed by Rocket Cos.' acquisition of Redfin and potential sales of Berkshire Hathaway to Compass.

    Golden and Wong reflected on their 25-year journey at @properties, expressing gratitude for the company's culture and employees. They looked forward to the next evolution, acknowledging that every change has been great so far.