Compass Expands Into Santa Cruz With Monterey Bay Properties Acquisition

Compass has bought the 40-year-old brokerage and its staff of almost 40 brokers, marking the publicly traded brokerage’s first workplace in Santa Cruz County, the corporate introduced Wednesday.

Inman Join is LIVE Aug. 8-10! Be a part of us for impactful interviews, cutting-edge conversations and networking with 1000’s of actual property professionals. Get worthwhile takeaways to thrive in a quickly shifting market. Can’t come to Vegas? Register now for a digital ticket.

Compass  has acquired Northern California brokerage Monterey Bay Properties, marking its first foray in Santa Cruz County, in line with an announcement Wednesday.

The 40-year-old brokerage, which tallied 81 transaction sides and $140 million in transactions final yr, will fold its 40 brokers below the Compass banner following information of the acquisition.

“The Monterey Bay Properties staff of almost 40 brokers are among the many greatest at what they do and we couldn’t be extra excited to welcome them to Compass,” Compass California president Wendy Forsythe stated in a press release.

The manufacturers growth into Santa Cruz County additional spreads its attain in Northern California, including to Compass’s agent rely of greater than 5,000 brokers all through the area, together with in Lake Tahoe, Wine Nation, the Straightforward Bay, San Francisco, the Peninsula, Silicon Valley and the Monterey Peninsula.

“Our staff at Monterey Bay Properties together with our Thunderbird Actual Property division, has distinguished themselves in our marketplace for over 40 years,” stated John Hickey Managing Dealer at Monterey Properties. “They’ve completed this with a mixture of huge collective native actual property data and the willingness to share it inside a extremely collaborative firm tradition. This enables our brokers to persistently ship the perfect outcomes for his or her shoppers. By empowering ourselves with the unequalled toolkit that Compass supplies, we’re decided to maintain that stage of the very best service to our shoppers for the following 40 years and past.”

Hickey was born and raised in Santa Cruz County and served because the Santa Cruz County Affiliation of Realtors President in 2013. He’s at the moment serving on the board of administrators of MLSlistings.

E mail Ben Verde