Compass Houston Announces New Offices
November 10, 2020
Compass, the real estate technology company, is marking strong growth milestones with the announcement of an office in the Memorial Green development, the opening of its permanent regional office at 4200 Westheimer Road and plans to open offices next year in The Woodlands and The Heights.
Compass launched in Houston in November of 2018 and has grown to more than 490 agents and team members. Since September 2019, Compass has grown its agent community across Houston by more than 190% percent.
“Houston is a really important market for Compass and we are making a $20 million investment in our presence to further enhance how we support our agents. We will be opening several more offices and doubling our employee team to strengthen the support our agents receive. Our expansion plans in the Houston market mirror the incredible growth of our nearly 500 agents and their team members as they guide their clients through the real estate process in the fourth largest city in the United States.”
Memorial Office
Compass’ new Memorial office will be located at 12525 Memorial Drive, Suite 350 in the New Urbanism community of Memorial Green, developed by Houston-based Midway, a privately owned, fully integrated real estate investment and development firm. The 4,700-square-foot space will serve as Compass’ permanent Memorial home and is scheduled to open in the first quarter of 2021.
“We are thrilled to welcome Compass to the elevated mixed-use development of Memorial Green,” said Robert Williamson, Senior Vice President of Investment Management. “Memorial is one of the city’s most desirable and distinctive communities, and we are confident that the addition of Compass strategically expands our top-of-the-line real estate brokerage services to the surrounding market and perfectly complements our unique tenant mix.”
The distinct location will allow easy access for Compass’ Memorial agents to the surrounding neighborhoods. The office is located in the development’s 50,000 square feet of boutique office space just steps from a host of shops and restaurants, as well as the Memorial Green luxury residential community.
“The Memorial area is a wonderful area to call home in Houston and Compass’ agents continue to dominate the market with the neighborhood’s top sales and new listings each month,” says Houston Sales Manager Katie Kossev. “The opening of our space in Memorial is an acknowledgment of just how successful our agents have been. As our agent family expands and our agents grow their businesses, we want to continue to provide them with top resources, including state-of-the-art office space.”
Compass’ Growth + Westheimer Office
Despite market uncertainty due to decreasing oil prices and COVID-19, the Houston residential real estate market has been incredibly strong. As of September 1, Compass’ agents have already sold more than $1.3 billion this year. In fact, Compass’ agents have closed 42% more in sales volume ($911 million) in the first nine months of 2020 than during the entirety of 2019.
Compass is now ranked #1 in market share by active listing dollar volume (Source: HAR MLS Data). Compass is also the #1 brokerage in dollar volume market share of sold listings over $1 million (Source:HAR MLS Data). In addition, Compass has the most agents of any brokerage on the Houston Business Journal’s 2020 lists of top individual agents by both volume of sales and luxury sales.
Earlier this month, Compass opened its permanent regional headquarters at 4200 Westheimer Road with nearly 30,000 square feet of space in the Park Place Tower. The space provides offices and desks for Compass’ current agents and employee team as well as additional office space for agents who join Compass in the future.
Compass expanded into The Woodlands in February of 2020 and plans to open a permanent space in the market. Compass also plans to open an office early next year in The Heights.
“Compass places agents at the center of our strategy and is building technology that empowers unmatched value for years to come,” says Daniel Pesis, Compass’ Director of Operations for Houston. “We’re proud to partner with Houston agents that want to be involved in building the next phase of real estate. I believe Compass’ power is showcased by the number of our agents who have grown their businesses since joining Compass.”
To match impressive agent growth, Compass is also growing its employee team. With 13 employees already added to the team already this summer, Compass is working to double its employee count and currently has 10+ roles open on Compass.com.
About Compass
Compass is a leading national real estate technology company, providing tools and services to help real estate agents grow their businesses and better serve their clients. As one of the largest groups of small business owners in the country, real estate agents utilize the end-to-end Compass platform to improve their productivity and help them manage their business more effectively. Compass currently powers over 18,000 real estate agents across 165+ U.S. cities, who were responsible for over $91 billion in real estate transactions in 2019. For more information on how Compass powers one of the largest groups of business owners in the country, please visit www.Compass.com.
About Memorial Green
Memorial Green’s village concept is located in one of Houston’s most prominent zip codes, in the heart of the Memorial neighborhood. Memorial Green will feature 88 townhomes and single-family luxury homes, a central green plaza and extensive green space, 50,000 square feet of Class-A office space with an additional 25,000 square feet of boutique retail and restaurants including Jonathan’s the Rub and Dish Society. Memorial Green is located at 12525 Memorial Drive, Houston, TX 77024. For more information, please call 713-629-5200 or visit www.memorial-green.com.
About Midway
Houston-based Midway is a privately owned, fully integrated real estate investment and
development firm that has provided the highest level of quality, service and value to clients and investors for over 50 years. Midway’s portfolio of projects completed and/or underway consists of more than 45 million square feet of properties ranges from mixed-use destinations to office, industrial facilities, and master-planned residential communities. Midway continues to develop projects of distinction, aesthetic relevance and enduring value for investors, clients, and the people who live, work, and thrive in the environment they create.