Compass hired New York agents Tom Postilio and Mickey Conlon. Meanwhile, eXp brings Calgary-based Sahil Chhabra and his team on board.
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Recruiting top talent has become one of the dominant stories in real estate over the past two years, and this week both Compass and eXp Realty showed why: The two upstart brokerages just added star agents to their ranks.
Compass announced the recruitment of Tom Postilio and Mickey Conlon this week. The pair, who both live in New York City, have generated $3 billion in sales during their careers, according to a statement.
Postilio and Conlon have a star-studded client list that includes artists such as Barry Manilow and Liza Minnelli, and have themselves appeared on TV shows such as HGTV’s “Pitching New York” .
Tom Postiglio (left) and Mitch Conlon.Photo Credit: Tom Postiglio and Mitch Conlon
Prior to joining Compass, Postilio and Conlon worked at Douglas Elliman, where they were founding members of the agency’s sports and entertainment department.
“We look forward to expanding our team across the country to better meet the needs of our clients in the markets where they operate,” Conlon said in a statement about his move to Compass.
Meanwhile, eXp announced this week that it has recruited Sahil Chhabra and his team of 21 agents. Chhabra is headquartered in Calgary, Alberta, and has generated revenue of more than $425 million over the past four years, according to a statement. The statement added that Chhabra’s team, fluent in multiple languages including Hindi and French, is “a beacon of inclusive excellence, providing unparalleled customer service tailored to every linguistic demographic.”
Sahil Chhabra. Photo credit: Sahil Chhabra
Chhabra and his team previously worked at RE/MAX.
The statement noted that Chhabra made the decision to move to eXp after meeting with the agency’s top producers, Justin Havre and Ibrahim Hussein.
The recruiting wins for both Compass and eXp come after two brutal years in the real estate industry. As mortgage rates rise and inventory dwindles, deals are becoming fewer and farther between, which in turn is leading to a sift through the brokerage ranks.
The shift has put pressure on brokerages to focus not just on headcount but also on finding star agents with a track record of closing deals during downturns. Compass and eXp, both fast-growing but younger brokerages ahead of the market shift, have been particularly proactive in hiring and often make headlines for their new hires.
For example, just last month, Compass revealed that Bay Area’s Mollie Poe and Declan Hickey were back at the agency after stints at Side.
In January, eXp announced its acquisition of Austin-based Mike Seder Group.
eXp and Compass also reported earnings last month and revealed they had managed to grow their agent numbers despite tough times.
It remains to be seen how the war for talent will be affected in the coming year. Most industry leaders expect mortgage rates to fall in 2024 and expect inventory to increase. But as this week’s recruiting news shows, competition for the industry’s top talent isn’t abating, at least for now.
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