Compass expands into Scottsdale, welcomes Launch Real Estate
Posted 4/18/23
Compass, Inc., a tech-enabled real estate brokerage, announced that Launch Real Estate has joined the firm. Launch is an independent and agent-owned full-service brokerage based in Scottsdale with …
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REAL ESTATE
Compass expands into Scottsdale, welcomes Launch Real Estate
Posted
Compass, Inc., a tech-enabled real estate brokerage, announced that Launch Real Estate has joined the firm. Launch is an independent and agent-owned full-service brokerage based in Scottsdale with just over 300 agents.
“We are excited to welcome Launch to the Compass family as we continue to grow the Compass footprint in the United States,” Robert Reffkin, Compass founder and CEO. said in a press release. “Launch is a premier luxury brokerage and a great fit for our brand and culture. We are adding an excellent agent-centric agency in a top U.S. market, creating significant synergies within our vast agent network.”
“At Launch, we have a proud culture of collaboration, and joining Compass allows us to build on that foundation throughout Arizona and nationally,” John Vatistas, Launch co-founder and CEO, said in a press release. “We have the same values and commitment to innovation and are very impressed with the formidable reputation of the Compass brand. Honestly, I do not want to entertain the idea of competing with them, as they are simply in a league of their own.”
Founded in 2016 by John Vatistas and Sean Zimmerman, Launch’s regional leadership and support will remain in place, with full integration of Compass’ systems and digital tools happening over time.
“We’re keeping our traditions and people while benefiting from Compass’s national network of agents, many of them in markets with natural synergies with Greater Phoenix,” Sean Zimmerman, Launch co-founder and president, said in a press release.
Since its founding in 2012, Compass has grown to over150 markets across the U.S., including Denver, Seattle, the Bay Area, and Southern California. Last year, Compass became a Fortune 500 company and, for the second year in a row, was named the number one residential real estate brokerage in the U.S. by sales volume by RealTrends.
“What makes this transaction unique for Compass is that we are adding a top regional brokerage under a structure that aligns our interests long-term and funds the acquisition on a deferred basis with no upfront capital,” Rory Golod, Compass president of growth and communications. “Agents are excited to join us because of our industry’s only end-to-end transaction platform and collaborative culture that make our agents more successful.”
