Palm Beach agent Thor Brown is jumping from Douglas Elliman to Compass, the latest move in the island’s brokerage turf battles.
Brown, who has closed more than $300 million in sales since 2021, will be Compass’ director of luxury sales, according to a press release. Also joining the brokerage’s Palm Beach office is Sam Fingold, a Canadian agent who focuses on serving Canadian and American clients in South Florida.
Compass has been bolstering its presence in the island’s luxury market in recent years. In January, it opened a larger office on Worth Avenue designed to serve more than 100 agents. Prices have surged in Palm Beach, much like the rest of South Florida, as the island’s luxury residential market has become an epicenter for eight- and nine-figure trophy deals. This year already, spec developer Todd Glaser and his partners sold Tarpon Island for $152 million, and Daren Metropoulos bought an oceanfront mansion for $148 million. In the dead of summer, an oceanfront compound listed for $96 million went into contract.
It’s a good time to be in the Palm Beach real estate business, and brokerages and agents alike are looking to get in on the action. Miami’s Cervera Real Estate opened offices in Palm Beach and West Palm Beach, the Agency launched an office on Royal Palm Way in Palm Beach, and Serhant is looking to edge its way in as well.
But brokerage heads know that growing market share in Palm Beach is really about landing top talent. Agent recruitment is key.
“The reality is if you don’t have the talent, you’re not going to be successful,” Corcoran Group agent Dana Koch told The Real Deal earlier this year.