Compass, the upstart brokerage backed by Softbank, is adding venerable New York firm Stribling to its ranks.
The addition of Stribling’s 300 agents and 50 employees will bring Compass’ New York City presence to over 1,800 agents in 11 offices.
“I have always admired Elizabeth, her daughter Elizabeth Ann and the hundreds of impressive agents and managers at Stribling,” said Compass Founder and CEO Robert Reffkin. “We’re honored that they have chosen to align their impressive organization with ours. It’s humbling to join forces with such revered industry professionals, and I feel certain that together we can further build an exceptional environment for agents to thrive and further enhance the consumer experience.”
Founded by Elizabeth Stribling and Connie Tysen 40 years ago, Stribling flourished as an independent Luxury broker, closing $1.62 billion in sales last year, according to TRD.
“I could not be more excited to begin a new life at Compass,” said Stribling . “Compass represents the future of real estate brokerage and Stribling will now be a part of this exciting new world. Because of their solid core values, innovative thinking, and exceptional platform, we have enthusiastically chosen Compass.”
Elizabeth Ann Stribling-Kivlan, who took the reins of the firm in 2014, added: “I have watched Compass from the sidelines for the last five years, and I have been awed by the marketing, technology, and culture that they have and are continuing to build.”
Compass was founded in 2012 and has grown to service more than 10,000 agents across 248 offices in 132 markets across the country. The company is valued at $4.4 billion and has raised $1.2 billion to-date. REAL Trends named Compass the #1 independent real estate brokerage and the #3 overall brokerage by sales volume in the U.S. for 2018.
No financial details of the merger were released.