One of Compass’s earliest founding agents in the Bay Region has jumped to Christie’s International Real Estate Sereno, the brokerage introduced Friday.

Phil Chen, a founding member of Compass’s Mid Peninsula business when it launched in 2018, has joined Christie’s Intercontinental Authentic Estate Sereno’s office environment in Burlingame in San Mateo County along with his 7-individual staff, a industry he is already effectively recognized in alongside with Hillborough.

“I’m psyched to convey my workforce to Christie’s Worldwide Genuine Estate Sereno,” Chen stated in a assertion. “Their deep marketplace information, impressive regional management, lifestyle, and eyesight are the excellent match for us. Going to this flourishing corporation gives my workforce access to a  luxurious brokerage network with affiliates in almost 50 nations and territories moreover the  title recognition from the Christie’s Worldwide Genuine Estate manufacturer to complement Sereno.”

Chen, who has been ranked among the best 50 agents in the country, the top 20 brokers in California, and the best 10 brokers in the Bay Space, has shipped in excess of $1.1 billion in profits considering the fact that launching his occupation in 2006, in accordance to Christie’s. He closed $262 million in gross sales last yr, according to Serious Tendencies.

“Phil provides a enormously prosperous boutique luxurious brand all its individual to Sereno,” Chris Trapani, main government officer of Christie’s Intercontinental Genuine Estate Sereno, claimed in a statement. “Phil’s travel and self-control  through his career in serious sports and physical fitness helps make him an innovator and a  innovative visionary. He consistently ranks amongst the leading eight producers in the Bay  Spot, top rated 20 in California and among the the top rated 45 brokers in the country. He sights the environment  by means of a unique lens spotting trends in advance of most, innovating and influencing these  who are fortuitous to function with him. We are delighted to welcome Phil to Sereno.” 

Sereno’s affiliation with Christie’s is modern, owning only begun in February 2022, soon soon after Christie’s acquisition by Chicago-primarily based @properties. Sereno did $6.5 billion in gross sales quantity in 2021 and has been mentioned as a prime brokerage in the U.S. by rating organization Authentic Trends.

Chen’s departure from Compass arrives all through a turbulent time for the brokerage after its most the latest earnings report showed that it recorded $101 million in losses in the course of the second quarter of 2022. The disclosure has prompted the brokerage, which grew exponentially for the duration of 2018 and 2019, to apply layoffs and cost-reducing measures which includes the slashing of inventory and money incentives in recruiting in an energy to save $320 million.

Previously this 7 days, it was announced that Compass Houston’s founding agent was leaving the brokerage for a situation with Sotheby’s Global Realty.

E mail Ben Verde