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Compass Co-Founding Agent In Bay Space Jumps To Christie’s Sereno

Phil Chen, a founding member of Compass’s Mid Peninsula workplace, has joined Christie’s Worldwide Actual Property Sereno in Burlingame in San Mateo County.

Certainly one of Compass’s earliest founding brokers within the Bay Space has jumped to Christie’s Worldwide Actual Property Sereno, the brokerage introduced Friday.

Phil Chen, a founding member of Compass’s Mid Peninsula workplace when it launched in 2018, has joined Christie’s Worldwide Actual Property Sereno’s workplace in Burlingame in San Mateo County alongside his 7-person workforce, a market he’s already nicely established in together with Hillborough.

“I’m excited to carry my workforce to Christie’s Worldwide Actual Property Sereno,” Chen mentioned in an announcement. “Their deep market information, progressive native management, tradition, and imaginative and prescient are the right match for us. Shifting to this thriving group offers my workforce entry to a  luxurious brokerage community with associates in nearly 50 nations and territories plus the  title recognition from the Christie’s Worldwide Actual Property model to enhance Sereno.”

Chen, who has been ranked among the many high 50 brokers within the nation, the highest 20 brokers in California, and the highest 10 brokers within the Bay Space, has delivered over $1.1 billion in gross sales since launching his profession in 2006, in line with Christie’s. He closed $262 million in gross sales final yr, in line with Actual Traits.

Previous to co-founding Compass’s Mid Peninsula workplace he labored at Keller Williams Principal Estates in Burlingame for six years. Earlier than working in actual property he had a profession within the health trade.

Phil brings a tremendously profitable boutique luxurious model all its personal to Sereno,” Chris Trapani, chief govt officer of Christie’s Worldwide Actual Property Sereno, mentioned in an announcement. “Phil’s drive and self-discipline  all through his profession in excessive sports activities and health makes him an innovator and a  artistic visionary. He persistently ranks amongst the highest eight producers within the Bay  Space, high 20 in California and among the many high 45 brokers within the nation. He views the world  by means of a novel lens recognizing tendencies forward of most, innovating and influencing these  who’re lucky to work with him. We’re delighted to welcome Phil to Sereno.” 

Sereno’s affiliation with Christie’s is latest, having solely begun in February 2022, quickly after Christie’s acquisition by Chicago-based @properties. Sereno did $6.5 billion in gross sales quantity in 2021 and has been listed as a high brokerage within the U.S. by rating agency Actual Traits.

Chen’s departure from Compass comes throughout a turbulent time for the brokerage after its most up-to-date earnings report confirmed that it recorded $101 million in losses throughout the second quarter of 2022. The disclosure has prompted the brokerage, which grew exponentially throughout 2018 and 2019, to implement layoffs and cost-cutting measures together with the slashing of inventory and monetary incentives in recruiting in an effort to save lots of $320 million.

Earlier this week, it was introduced that Compass Houston’s founding agent was leaving the brokerage for a place with Sotheby’s Worldwide Realty.

E-mail Ben Verde

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