Real estate company Compass is expanding its footprint in the Washington, D.C., luxury homes market with the addition of a prominent local brokerage to its growing team of agents.
Executives said Wednesday that the New York-based brand with a national presence is acquiring Washington Fine Properties, or WFP, a brokerage of 150 agents specializing in luxury properties in Washington, D.C., Maryland and Virginia.
“By joining forces with WFP, the most reputable local luxury brokerage, we have the opportunity to enhance our combined luxury offerings,” Compass CEO Robert Reffkin said in a statement. “We can continue to create a company that better serves homeowners.”
Terms of the transaction were not disclosed.
As of Thursday, four of the 20 priciest listings on Homes.com in the D.C.-Maryland-Virginia region belonged to agents at Washington Fine Properties. Since its inception in 1999, the brokerage has reported $43 billion in lifetime sales, according to its website.
Compass grows presence
Compass said WFP would operate under its own brand and retain its leadership, including Principal Broker Dana Landry, President Thomas Anderson, Managing Partner William Moody and Managing Partner Marc Schappell.
“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,” Anderson 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.”
The WFP acquisition comes as Compass, ranked the largest residential brokerage by volume in 2024 by industry tracker Real Trends, continues to grow its presence in the country’s largest housing markets.
This week, the brand announced that in the fourth quarter of 2024, it grew its transactions when compared to the same time a year earlier, and in turn increased its share of the real estate market to more than 5%.
Reffkin said he expects that growth to continue throughout 2025, especially after Compass finalized a deal in January to acquire Chicago-based @properties Christie’s International Real Estate, the eighth-largest brokerage based on sales volume in the U.S.
“We want to build a company that better serves homeowners and builds a platform for homeowners that gives them the same advantages as the big real estate developers, real estate professional real estate developers, as well as the real estate home builders," Reffkin told investors when announcing Compass’ acquisition of @properties Christie’s International Real Estate.
"Bringing two great companies together, I think, gives us a clear path to being able to give these kinds of benefits to individual homeowners," he said at the time.