Tracking the Talent Shift Between Compass and Douglas Elliman in New York, Florida, California, and Texas Throughout 2024
In the high-stakes world of luxury real estate, competition for top agents is fierce, and 2024 has seen a significant shift in talent between two of the industry’s biggest players: Compass and Douglas Elliman.
Over the course of this year, Compass has managed to lure several high-profile agents from Douglas Elliman, strengthening its position in some of the most competitive markets in the United States, including New York, Florida, California, and Texas.
According to data provided by Compass, between January and September of 2024, 39 former Elliman agents transitioned to Compass. These agents brought with them a combined self-reported sales volume of approximately $1 billion from 2023.
The move signifies a major win for Compass in its bid to bolster its ranks with top-performing talent and continue its rapid expansion across major real estate markets.
One of the most notable names to join Compass this year is Thor Brown, a highly regarded agent based in Palm Beach, Florida. Brown made the move shortly after Compass opened a new, larger office on the island earlier this year, a strategic decision that aligns with its aggressive expansion in the Florida market.
In 2023, Brown achieved $78 million in sales, a testament to his prowess in the luxury real estate space. His addition to Compass marks a significant win for the firm as it seeks to dominate the competitive Palm Beach market, where demand for high-end properties has soared in recent years.
In Boca Raton, another significant recruitment came in the form of Bonnie Heatzig, who left Douglas Elliman in July after three years with the brokerage. Heatzig, who reported $174 million in sales volume last year, had spent nearly 20 years at Bex Realty before Compass acquired the firm in 2021.
Her decision to rejoin Compass underscores the company’s ability to retain and reclaim top agents, even after they’ve spent years with competing brokerages. Heatzig’s move is a key gain for Compass, particularly in Boca Raton, where luxury real estate is booming.
The trend of agents moving from Elliman to Compass is not limited to Florida. In New York City, a market known for its competitive real estate landscape, 10 agents left Douglas Elliman for Compass in 2024. Among them is reality TV star Erin Lichy, known for her role on “Real Housewives of New York,” and Maggie Marshall, a former co-leader of a top-producing team at Elliman.
Both Lichy and Marshall bring with them a strong client base and established reputations, further solidifying Compass’ growing influence in New York City’s luxury real estate market.
One of the most significant defections in New York involved the Zweben Team, which had been with Douglas Elliman for 20 years before joining Compass earlier this year.
The team, which closed $65 million in sales in 2023, was a key player in Elliman’s New York operations. Their decision to switch to Compass highlights the appeal of the firm’s innovative technology platform and agent-centric approach, which has been a major selling point for agents looking to scale their businesses.
Compass also secured the services of Tom Postilio and Mickey Conlon, two highly respected New York agents who joined the firm in February. The duo brought with them $60 million in listings and a vision to build a 10- to 12-person team with reach beyond New York City, further expanding Compass’ national footprint.
On the West Coast, Los Angeles broker Josh Flagg, a prominent figure in luxury real estate and star of Bravo’s “Million Dollar Listing Los Angeles,” made headlines when he joined Compass earlier this year. Flagg’s move came after a two-year stint at Douglas Elliman, which ended in controversy. Documents obtained by The Real Deal revealed that Flagg’s contract with Elliman was terminated in March, just one day before Compass announced his arrival. The timing of his departure raised eyebrows, as it coincided with a settlement over a dispute involving the $4.7 million sale of a home in Pasadena, where Flagg represented both the buyer and seller. Flagg ultimately agreed to forfeit his sellers’ commission to avoid further claims, although he maintained that his decision to move to Compass had been made prior to the dispute.
Despite the controversy surrounding Flagg’s exit, his addition to Compass represents a high-profile gain for the firm, which has been aggressively expanding its presence in Los Angeles’ luxury market. Flagg’s celebrity status and impressive sales record make him a valuable asset as Compass continues to build its brand on the West Coast.
While Compass has made significant strides in attracting top talent from Douglas Elliman, the reverse has been less pronounced. According to Compass data, only nine agents left Compass for Elliman during the same period, with a combined sales volume of $80 million in 2023.
This represents a stark contrast to the roughly $1 billion in sales volume that Compass has gained from Elliman recruits. Some of this disparity can be attributed to the relative size of the two firms. While both are major players in the real estate industry,
Compass’ nationwide headcount stood at approximately 33,000 agents by the end of the second quarter of 2024, compared to Elliman’s 6,500 agents at the end of 2023.
One notable agent who made the switch from Compass to Elliman is Jon Capobianco, who joined the De Niro Team, one of Elliman’s top-producing teams, in February of this year. Capobianco’s move signals that Elliman still holds appeal for certain agents looking for opportunities within its established framework.
In Los Angeles, Bryce Pennel also made the transition to Elliman in February, bringing with him a team of four agents. Pennel closed $30 million in sales last year, including a high-profile $10 million deal for Britney Spears’ Calabasas mansion.
Despite these gains for Elliman, the overall trend in 2024 has been one of high-profile defections to Compass, as the firm continues to capitalize on its agent-friendly technology platform, national reach, and strategic office expansions. As the year progresses, it will be interesting to see whether Douglas Elliman can mount a counteroffensive or if Compass will continue to dominate the talent wars in luxury real estate across these key markets.
The ongoing competition between these two powerhouse brokerages serves as a reminder of how dynamic the real estate industry can be, with agents continually seeking the best tools and opportunities to serve their clients and grow their businesses.
As Compass continues to poach top talent from Elliman, the landscape of luxury real estate in New York, Florida, California, and Texas will undoubtedly evolve, with ripple effects felt across the industry.