It appears Compass’ expansion pause is over. Just days after announcing Arizona-based independent brokerage Launch Real Estate had joined the firm, Compass announced on Monday it is welcoming the New York state-based Upstate Curious Team.
The team, which is led by Megan Brenn-White, has 15 real estate agents and five support staff. It serves 11 counties in the Hudson Valley and the Catskills, from Westchester County up to Albany.
Brenn-White and Upstate Curious had previously been with Keller Williams.
According to a press release, the team has sole $256 million in real estate since its founding in 2019.
“We’re a tech-savvy group, but I struggled to find the right tech to support my growing team,” Brenn-White said in a statement. “I spent years admiring the all-in-one platform Compass was building and feeling like I didn’t have access to the best tools in the industry. After learning that we could help lead Compass’ expansion into our area, we decided to move brokerages within two weeks! Our business is largely second homes, so I know the connection to the top brokerage in NYC will also be pivotal for us.”
Brenn-White’s team has developed a mobile app designed to connect new community residents with small businesses. It is currently available on the Apple Store and the Google Store, and it has over 6,500 users.
“The arrival of such an innovative and accomplished team is a testament to our commitment to attracting talented agents with the industry’s leading technology, a culture of collaboration, and a belief that we can be better together,” Gordon Golub, Compass’ Tri-state regional vice president, said in a statement.
For the second year in a row, Compass was named the number one residential real estate brokerage in the country by sales volume by RealTrends. In 2022, the firm produced $227.98 billion in sales volume off of 210,365 transaction sides.
Despite its ranking success, Compass has struggled to become profitable. In 2022, Compass recorded a net loss of $601 million despite raking in revenue – which was up 6% to $6.02 billion. Reffkin has shifted the focus over the past year to achieve profitability, and said late last year that the goal was to be cash flow–positive by the end of June, even amid the biggest housing market slowdown in years.