Compass announced today that it is opening a new office in San Diego. The deep-pocketed New York-based real estate brokerage with ambitious national expansion plans is acquiring local firm P.S. Platinum, a San Diego boutique brokerage, to launch the new branch.
According to the company press release, P.S. Platinum was founded in 2001 by Brett Combs, and specializes in luxury real estate. Compass is also bringing on Candis Kolb, Kelly Howard, Mark and Pete Casperson, and Anne Schreiber as founding agents of the new Compass office. Sales managers at the office will include Steve Salinas and Melanie Fontana.
“When I started P.S. Platinum 17 years ago, I set out to be the best brokerage possible by bringing together San Diego’s most ethical, client-driven agents, even if it meant not being the biggest,” said Combs in a prepared statement. “Now, at Compass, I’m excited to watch our agents do both.”
Rob Lehman, Chief Revenue Officer at Compass, added in the announcement: “When we looked at our growth across Southern California, San Diego became a clear and natural priority in our national expansion. P.S. Platinum is a fantastic strategic addition to our team as we kick off Compass San Diego. We look forward to leveraging their local expertise alongside our founding team to grow our San Diego presence.”
Meanwhile on the other side of the country, the high-tech NYC-based brokerage further disclosed today that it’s snatching up Platinum Drive Realty, a real estate brokerage in Westchester, New York, a county north of New York City. With Platinum Drive, Compass’s Westchester team will now have more than 100 agents representing more than $200 million in annual sales volume. The acquisition will propel Compass into becoming a “top five” brokerage in the Westchester areas of Scarsdale, Larchmont and Chappaqua, the company said.
Platinum Drive, founded in 2006 by husband and wife team Zach and Heather Harrison, was the fastest-growing real estate firm in the Tri-State area by Inc. in 2015.
“Working with Compass to empower our agents with their world-class technology and support is the best thing we can do to continue to grow our business and better serve our clients,” said the Harrisons in a press release. “Compass’s national network will allow our agents to reach markets and expertise that no other brokerage could. We can’t wait to help everyone in Westchester find their place in the world.”
“Zach, Heather and the rest of the Platinum Drive team share our desire to go beyond what most believe is possible,” said Lehman of Compass. “Their track record of client centered brokerage and persistent growth makes them a great addition to the Compass family.”
The news comes on the heels of last year’s record-setting $450 million funding round for Compass from the SoftBank Vision Fund, a venture capital fund offshoot of Japanese giant Softbank that includes money from many international investors. Compass CEO Robert Reffkin last year unveiled the company’s “2020 by 2020 plan,” which aims to have the company gain 20 percent market share in the largest 20 metropolitan markets in America by 2020.”