"They tended to focus on independent brokers that were in high-end markets where they had above-average agent productivity and were profitable, Murray said. For the most part, they've kept the leadership teams intact, not perfectly, but pretty well, and they've retained most of the people. So they did a very good job. Murray further emphasized that holding onto talent during integration has been one of Compass' biggest successes."
"Murray further emphasized that holding onto talent during integration has been one of Compass' biggest successes. They've done a good job retaining and integrating the brokerage personnel of the firms they've acquired, he said. I mean, they've had some attrition issues here and there, but by and large, they've done a really good job keeping the people they acquired. That retention helped Compass maintain market presence while giving it credibility with agents wary of losing local leadership during consolidation, Murray added."
Compass executed a deliberate, focused acquisition strategy that targeted large-scale firms and market-leading independents in high-end markets with above-average agent productivity and profitability. The company generally kept acquired leadership teams largely intact and retained most personnel, achieving strong talent retention during integration. That retention helped maintain market presence and gave credibility with agents wary of losing local leadership during consolidation. Despite numerous acquisitions, competitive ripple effects in local markets were limited and did not spur widespread merger activity among other firms. The acquisition of Anywhere Real Estate could pose a different and more complex test ahead.
Read at www.housingwire.com
Unable to calculate read time
Collection
[
|
...
]