Compass is buying Christie’s International Real Estate and @properties, the companies said in a statement on Monday.

If approved, the acquisition would merge the No. 1 brokerage by sales volume with the No. 8 brokerage.

The sale is pending and wouldn’t close until next year, the companies said.

“This partnership will allow us to empower strong independent brokerages and broker-owner entrepreneurs around the world who are Affiliates under Christie’s International Real Estate,” Compass CEO Robert Reffkin said in a statement. “Our companies share the same passion for empowering entrepreneurial agents. Together, we will be able to provide unparalleled resources and support to help everyone succeed and deliver exceptional client experiences.”

@properties has the largest market share in Chicago, along with operations throughout the Midwest and Atlanta. The company has also begun expanding its reach in luxury markets like Park City, and internationally. @properties bought Christie’s International Real Estate in November 2021.

Christie’s includes an international focus across 50 countries and territories.

Compass said that @properties’ northern California operation would become an independent brokerage “while maintaining its network affiliation.”

“Compass shares our commitment to enhance the real estate industry through technology,

marketing, and exceptional service and to embrace the local, independent broker through the

Christie’s International Real Estate and @properties brands,” said Thad Wong, @properties Co-CEO. 

“This is a very complementary union that respects our unique brands and empowers agents to provide an even better experience for the clients they serve,” said Mike Golden, @properties Co-CEO.

Compass said it would continue growing internationally and within the U.S. after the sale.

The company is set to host a conference call with investors Monday afternoon.

Original Article by Taylor Anderson, Inman