Compass Expands Into Santa Cruz With Monterey Bay Properties Acquisition

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

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

The 40-year-old brokerage, which tallied 81 transaction sides and $140 million in transactions final 12 months, will fold its 40 brokers underneath the Compass banner following information of the acquisition.

“The Monterey Bay Properties group 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 mentioned in an announcement.

The manufacturers enlargement into Santa Cruz County additional spreads its attain in Northern California, including to Compass’s agent depend 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 group at Monterey Bay Properties together with our Thunderbird Actual Property division, has distinguished themselves in our marketplace for over 40 years,” mentioned 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 constantly ship one of the best outcomes for his or her shoppers. By empowering ourselves with the unmatched toolkit that Compass offers, we’re decided to maintain that stage of the very best service to our shoppers for the subsequent 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 presently serving on the board of administrators of MLSlistings.

Electronic mail Ben Verde