Compass is officially launching in Austin with four of the city’s top-performing agents, the company announced.
On the heels of an expansion into Dallas in January, Compass on Tuesday announced it had lassoed Gottesman Real Estate standout Dara Allen, Keller Williams agent Courtney Oldham and Sotheby’s International Realty stars Gary and Michelle Dolch to a new flagship office in the heart of Austin.
“Austin’s entrepreneurial spirit and emphasis on tech reflect the Compass culture and values, making it a natural next step in our growth,” said Rob Lehman, Compass’ chief growth officer, in a statement. “We look forward to partnering with local agents and helping them grow their businesses with our technology and support.”
Compass has already hired 11 local full-time employees and plans to hire additional marketers, designers and administrators to provide support to its agents.
Allen, who has inked more than $30 million in sales over the past 12 months, brings 18 years of real estate experience to Compass.
“The importance placed on sophisticated marketing and design, paired with intuitive technology, makes Compass a natural fit for me,” said Allen. “I know I will be equipped to provide the best-in-class service that my clients have come to know and expect.”
Gary and Michelle Dolch, who lead the Austin Luxury Group, hold the record for the most expensive sale ever recorded in Austin’s multiple listing service at $21 million. In sales volume, the duo ranked 19 in Texas and 2 in Austin, according to Real Trends.
“Compass’ unique blend of support, technology, and marketing will allow us to take our business to the next level,” the two said in a statement. “It’s truly impressive what they’ve been able to build in a short amount of time, and we’re excited to be partners in bringing their world-class service to the agent community and our clients in Austin.”
Courtney Oldham, formerly of Keller Williams, will also join Compass as part of its Austin expansion.
Compass will be competing for market share with Keller Williams Realty, one of the company’s most successful franchises in Austin, as well as Realty Austin, both of which ranked in the top 100 in transactions on the Real Trends 500. RE/MAX and Berkshire Hathaway HomeServices also both have franchises that closed more than 600 transactions on 2017 in Austin.
The expansion comes on the heels of a massive $400 million funding round led by SoftBank and Qatar Investment Authority. With the new capital, Compass announced plans to launch in Nashville and Houston, in addition to Austin. The company also announced plans to launch internationally.
Compass hasn’t been shy about its ambitious goals of reaching 20 percent of market share in the top 20 U.S. cities by 2020 – a goal they believe the funding round will bring them closer to achieving. Compass also announced plans to open 30 new offices in its existing markets by the end of the year.
Currently Compass, which was founded in New York City in 2012, has offices in: New York, Los Angeles, Chicago, San Francisco, Seattle, Philadelphia, San Diego, Washington, D.C., Dallas, Austin, Atlanta, Boston, Miami, Aspen, Orange County, Westchester, Santa Barbara, Montecito, Marin, Greenwich, Naples, Tahoe, Telluride and The Hamptons.