AUSTIN, September 27, 2023 – Compass, a leading tech-enabled real estate firm, announces a landmark acquisition, welcoming Realty Austin and Realty San Antonio, the #1 independent real estate brokerage in Central Texas with $5.24 billion in sales in 2022. This partnership strengthens Compass' position as the market leader and extends the benefits of its contact-to-close technology platform and elevated luxury capabilities to Realty Austin and Realty San Antonio's 630+ agents.
"Our agents have consistently set records with remarkable achievements," said Gabe Richter, CEO of Realty Austin and Realty San Antonio. "Now, by aligning with Compass, they gain access to a transformative technology platform that enhances efficiency and elevated resources that empower them to secure even more luxury listings."
This month, Compass introduced Compass AI, an AI integration that enables Compass agents to prioritize human connections while harnessing technology to streamline marketing. Compass AI joined a suite of machine learning tools available on the Compass platform, including the "Likely to Sell" feature unveiled in 2020. It proactively recommends contacts to Compass agents with the highest likelihood of selling their homes within the next 12 months.
Compass boasts a dedicated Luxury Division at the forefront of luxury real estate marketing. Since its inception in 2020, the Compass Luxury Division has organized exclusive networking events with leaders in the luxury space, such as Rolls Royce and Northrop & Johnson. It also has developed bespoke marketing strategies for some of the nation's most elite homes, produced nationally recognized market reports, forged strategic partnerships, including an international referral program with Paris-based luxury brokerage Barnes International, and harnessed digital platforms like Instagram to engage a global audience.
As part of the deal, local leadership from Realty Austin and Realty San Antonio will maintain direct oversight of day-to-day operations."We'll be here every step of the way to ensure a seamless transition that respects our unique brand and thriving culture we have built,” commented Yvette Flores, co-founder of Realty Austin and Realty San Antonio.
Compass maintains its position as the number one brokerage in Texas [1] and recently surpassed $10 billion in sales this year across the state [2]. Compass Texas President Rachel Hocevar expressed enthusiasm about the company’s expanded footprint, “With this acquisition, we've positioned ourselves as Austin's leading brokerage—our commitment to setting new standards and inspiring innovation for all our exceptional agents remains the top priority while honoring what Realty Austin and Realty San Antonio has built.”
1. Source: MLS data 1/1/2022-12/31/2022. Based on sold list and sell volume for residential properties at all price points. Results deemed accurate but not guaranteed.
2. Source: MLS data 1/1/2022-12/31/2022. Based on sold list and sell volume for residential properties at all price points. Results deemed accurate but not guaranteed.
