In its third major push into San Francisco, Compass has acquired Alain Pinel Realtors®, the No. 6 brokerage in the country for sales volume, according to RISMedia’s 2018 Power Broker Report. The Bay Area brokerage, which has consistently held a leading marketshare in the Northern California region, has 1,300 agents and 33 offices. The firm was purchased for an undisclosed sum.
“Over the last 30 years, Alain Pinel Realtors® have become leaders in the Bay Area, known for their luxury offering and strong culture,” said Robert Reffkin, CEO of Compass, in a statement. “The Hulme family has built a company with the same entrepreneurial, agent-centric values as Compass and I am excited to work together to build the future of the real estate industry.”
“When my family founded Alain Pinel Realtors® in 1990, we were committed to transforming real estate and 30 years later, we continue to look for ways to innovate,” said Mike Hulme, president of Alain Pinel Realtors®. “By partnering with Compass, we are able to further our vision and offer our agents the opportunity to build the future of real estate.”
Compass debuted in San Francisco in 2016. In 2018, the brokerage bought Paragon Real Estate Group and Pacific Union International, then the No. 5 brokerage for sales volume. According to the company, it now has 4,500 agents in the region.
Alain Pinel Realtors® acquired Hill & Co., a Bay Area boutique brokerage, in September.
Compass was founded in 2012 and is headquartered in New York. The firm has more than 10,000 agents in the U.S., including in the Bay Area, Chicago, Los Angeles, Miami, New York and Washington, D.C.
Suzanne De Vita is RISMedia’s online news editor. Email her your real estate news ideas at firstname.lastname@example.org.