The Austin-area luxury team is leaving The Agency for Compass
The Compass team in Austin welcomes back its own team. Luxury agent Mike Mogavero returns to real estate after a stint at The Agency.
Mogavero also brings Christen Lowe, his partner in the MOLO groupwith him. The pair had sales volume of $38.8 million in 2023, with Mogavero accounting for $33.2 million of the total, according to figures. RealTrends Verified.
“It is an exciting time to return to Compass and leverage the best technology and marketing capabilities in the market,” Mogavero said in a statement. “The collaborative culture, extensive referral network and unparalleled luxury support are proven to enhance our customer experience. We look forward to using these resources to take our company to the next level and achieve even better results for our customers.”
If it seems like Compass is adding agents at a rapid pace, that’s because it is. During the company’s second-quarter 2024 earnings call, CEO Robert Reffkin said the company’s national market share has reached 5.13%, a year-over-year increase of 50 basis points.
Reffkin said Compass’ goal is to reach 30% market share in 30 target markets, although the brokerage has not yet disclosed which markets these are.
If recent additions are any indication, Austin is one of them. In August, the eight-agent brokerage Prospect Real Estate Team moved to Compass. The brokerage has also made numerous additions in Texas as a whole, recently joining Houston agent Natasha Simon and Dallas agent Bridgette Harrington.
Compass has also added teams and agents in the states of Florida, New Jersey, New York, Tennessee, Washington and Colorado.
“Joining Compass is a strategic move for us as we continue to expand our presence in the Austin luxury real estate market,” Lowe said in a statement. “The excellent in-office support and marketing tools that Compass offers will enable us to provide a clear advantage to our customers. We are pleased to be part of a real estate agency that is as committed to excellence as we are.”
