Compass’ Ed Reale defects to Sotheby’s

Former BHS manager joined startup firm 7 months ago

New York /
May.May 11, 2016 04:54 PM

Ed Reale, who spent five years at Brown Harris Stevens before jumping to Compass in October to lead its nascent Hamptons operation, is on the move again, this time to Sotheby’s International Realty.

The sales manager and real estate attorney will lead Sotheby’s offices in Southampton and Bridgehampton, according to a statement from Sotheby’s.

It’s something of a homecoming for Reale, who managed the Southampton office prior to joining BHS in 2010.

In an email to Compass staffers, Reale said he was leaving for “personal reasons.”

Reale’s departure from Compass appears to be far less acrimonious than his exit from BHS, where he was sued for allegedly violating a noncompete agreement. Compass was also named in the suit, and BHS said the venture-backed startup was “no innocent bystander” in its aggressive courting of Reale. That lawsuit is ongoing.

Compass, which was valued at $800 million at the time of its $50 million Series C round in September, opened its fourth Hamptons office in January but has tangled with BHS and other brokerages in the course of its rapid expansion.

In December, Hamptons boutique firm Saunders & Associates sued former agent – and onetime Compass recruit — Meg Salem, accusing her of stealing more than 11,000 listings from the firm. Compass ultimately fired Salem in the wake of the suit, which remains ongoing.

In a statement, Compass CEO Robert Reffkin said it was a “pleasure” to work with Reale and wished him well.


Related Articles

arrow_forward_ios
Howard Hanna CEO Helen Hanna Casey and Compass CEO Robert Reffkin (Howard Hanna Casey, Getty)
Howard Hanna accuses Compass of poaching agents, stealing trade secrets
Howard Hanna accuses Compass of poaching agents, stealing trade secrets
This Brooklyn Heights home went into contract at $2,184 per square foot. (Compass)
$14M house topped Brooklyn’s luxury listings last week
$14M house topped Brooklyn’s luxury listings last week
Softbank CEO Masayoshi Son and Compass CEO Robert Reffkin (Getty, Compass)
SoftBank buys $72M of Compass stock
SoftBank buys $72M of Compass stock
1 Grand Army Plz #12C (Compass, Google Maps)
Brooklyn’s luxury market cooled last week
Brooklyn’s luxury market cooled last week
Compass CEO Robert Reffkin and agent Ronita Kalra (Photos via Twitter, iStock)
For Compass agents who invested, IPO is watershed moment
For Compass agents who invested, IPO is watershed moment
Clockwise: Ori Allon, Robert Citrone, Robert Reffkin and Masayoshi Son (Getty/Illustration by Kevin Rebong for The Real Deal)
Here’s who made bank in Compass’ IPO
Here’s who made bank in Compass’ IPO
(Instagram via laurenwoods.sellshomes, thefirm_eventdesign, tonywsimone, stevenabusch, ania_ishizaki, antonia_nycrealestate)
Just listed: A recap of Compass’ IPO
Just listed: A recap of Compass’ IPO
90 Jule Pond Drive (Sotheby’s International Realty)
Hamptons estate asking $145M under contract, may set record
Hamptons estate asking $145M under contract, may set record
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...