Compass buys Realty Austin, Realty San Antonio
Compass Inc. has purchased Realty Austin and Realty San Antonio for an undisclosed amount.
“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,” Compass Texas President Rachel Hocevar stated.
The purchase is a significant one, as Realty Austin and its Realty San Antonio offshoot handled $5.24 billion in sales in 2022, according to an announcement, and the brokerages boast more than 630 agents. As part of the deal, local leadership at the brokerages will maintain direct oversight over day-to-day operations. Realty Austin had been held up as the largest independent brokerage in town.
“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,” stated Realty Austin and Realty San Antonio co-founder Yvette Flores.
Realty Austin and San Antonio agents will have access to Compass’ technology platform, which can make them more effective, according to Realty Austin/Realty San Antonio CEO Gabe Richter.
“Our agents have consistently set records with remarkable achievements,” Richter stated. “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.”
New York-based Compass surpassed $10 billion in deals across Texas in 2022, according to the announcement.
