Compass has expanded into its ninth new market since its April initial public offering. Seven top agents will establish the brokerage’s presence in Minneapolis.
Compass has launched operations in Minneapolis, according to an announcement Thursday. Compass will enter the market with seven top agents representing more than $170 million in sales volume.
Top producers John C. Adams, John F. Adams, Mike Steadman, Holly Connaker, Andrew Spilseth and T. Cody Turnquist will serve as principal agents, the brokerage’s term for team leaders. The agents are expected to operate out of a single location, which will open soon.
“The agents joining Compass in Minneapolis are the perfect partners to build our presence in Minnesota,” Compass Regional President Rachael Rohn said in a statement. “As Compass continues to expand throughout the Midwest, our agents have long suggested Minnesota as a flourishing market with high-integrity agents that could expand our referral network.”
“Minneapolis has seen strong market growth and we are incredibly excited about empowering the agents in the market with our proprietary tools and technology,” Rohn added.
John C. and John F. Adams, the founders of John Adams Real Estate, said Compass’ technology, marketing and national network were the deciding factors in their move to the brokerage. The duo has more than $1.1 billion in combined sales volume and was named the top dual-agent team in Minneapolis on The Wall Street Journal’s “The Thousand” list.
“By joining Compass as Founding Agents, we have the leading opportunity to modernize our acclaimed brand while elevating our personalized approach to continue to meet the expectations of our clients and the luxury properties we represent,” the duo said in a statement. “Compass’ exclusive technology, inventive programs, and national network will allow us to focus on what we do best – serving our clients.”
“We are inspired by the innovative leadership and feel lucky to be a part of Compass’ forward vision for the industry and growth in Minnesota,” they added.
The Steadman Team brokers Mike Steadman and Holly Connaker echoed the Adams’ statement and said they’d been awaiting the opportunity to join Compass.
“We have been watching Compass for the past several years and were thrilled to learn they were entering the Minneapolis market,” Steadman and Connaker said in a statement. “Compass is committed to helping our team better ourselves and grow our business.”
“They have demonstrated their willingness and ability to support our team with the exceptional tools, marketing staff, AI-based technology and talented people they surround us with,” they added. “Real estate is changing and Compass is at the forefront. It was never a question of if, just when we would partner with them.”
In 2021 Compass has added 314 new agents to its ranks, representing more than $3.12 billion in 2020 sales volume. The brokerage reignited market expansions in October 2020 after a two-year hiatus to focus on product launches. Compass paused again to focus on its IPO but quickly announced launches in Tampa Bay, Florida, and Wilmington, Delaware, after its April 1 public debut.