The Compass team in Austin is welcoming back one of its own. Luxury agent Mike Mogavero is returning to the brokerage after a stint with The Agency.
Mogavero is also bringing Christen Lowe, his partner in the MOLO Group, with him. The pair topped $38.8 million in sales volume in 2023, with Mogavero accounting for $33.2 million of the total, according to RealTrends Verified.
“It’s an exciting time to return to Compass and tap into the best-in-market technology and marketing capabilities,” Mogavero said in a statement. “The collaborative culture, expansive referral network, and unrivaled luxury support are proven to benefit our client experience. We look forward to leveraging these resources to elevate our business and deliver even greater results for our clients.”
If it seems like Compass is adding agents at a torrid pace, it’s because it is. On the company’s second-quarter 2024 earnings call, CEO Robert Reffkin said the company’s national market share has hit 5.13%, a year-over-year increase of 50 basis points.
Reffkin said that Compass’s goal is to reach 30% market share in 30 targeted 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, with Houston agent Natasha Simon and Dallas agent Bridgette Harrington joining on recently.
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 grow our presence in the Austin luxury real estate market,” Lowe said in a statement. “The outstanding in-office support and marketing tools that Compass offers will enable us to provide a distinct advantage for our clients. We are thrilled to be part of a brokerage that is as dedicated to excellence as we are.”