HousingWireHousingWire
Compass has added to its roster in the nation’s capital. The brokerage has acquired Washington Fine Properties (WFP), a luxury real estate brokerage located in the Washington, D.C., metropolitan area.
WFP has 150 agents and has executed $43 billion in sales volume over the past 25 years. The acquisition gives Compass a firm footprint of high-end homes in an area with an expensive housing market.
“Compass shares our passion for empowering clients at every stage of their homeownership journey and has been a powerful leader in driving positive change within our industry,” Thomas Anderson, president of Washington Fine Properties, said in a statement.
“We are confident that aligning with Compass unlocks clear benefits for WFP’s agents and their clients, offering them access to innovative programs, cutting-edge technology, and more inventory within our combined network.”
According to WFP, the brokerage has the highest average sales volume per agent and the highest average sale price in the areas where it operates. It will continue to operate under its own brand and its leadership will be retained.
WFP is run by Anderson alongside principal broker Dana Landry, managing partner William Moody and managing partner Marc Schappell.
Compass has been expanding rapidly over the past year. At the end of 2023, the number of principal agents at the brokerage stood at 14,683. On its fourth-quarter earnings call on Tuesday, the company disclosed that the number has grown to 17,752.
“By joining forces with WFP, the most reputable local luxury brokerage, we have the opportunity to enhance our combined luxury offerings, and through innovative programs like Compass’ 3-Phased Marketing Strategy, we can continue to create a company that better serves homeowners,” Compass CEO Robert Reffkin said in a statement.
