Compass Partners With Top French Firm

Compass has partnered with a top French firm for international referrals.

The collaboration with Barnes International, which bills itself as the number one brokerage in France, gives Compass agents greater access to international markets and provides Barnes with more inroads to American clients. Barnes has 130 offices in 20 countries, including Miami and New York in the U.S.

The partnership is well-timed, according to Compass’ Charlie Attias, an agent who says the international market is heating up. International buyers started coming back to New York City’s real estate market late last year after the Covid-19 pandemic depressed sales.

“I’m seeing a very big pick-up with activity in the international market right now,” said Attias, who said buyers from France, Switzerland, Geneva, Belgium and Monaco “want to take a bite of the Big Apple.”

Buyers from India, the Middle East, Brazil and Mexico are also active in the market, he said.

“I believe now buyers are realizing New York offers great value,” said Attias, drawing a comparison to Miami. “Prices have come down because of higher interest rates.”

American buyers are also looking abroad, particularly in France, despite a wave of civil unrest in the country triggered this year by French President Emmanuel Macron’s decision to raise the country’s retirement age to 64 and, more recently, by the fatal police shooting of an unarmed teenager.

Attias said it’s too soon to tell if the new wave of protests — during which protestors have burned more than 2,000 cars and damaged nearly 500 buildings across dozens of cities, according to The New York Times — will scare away American buyers.

“France is a market that is in very high demand right now,” he said. “They like Paris and they like the south of France as well.”

Compass and Barnes aren’t the only brokerages making inroads outside of their native territories.

Corcoran recently announced its first European affiliate, Corcoran Magri Properties, in Italy, and Nest Seekers earlier this year expanded to Mexico “amid rising demand from American buyers,” according to a press release.

Compass has also expanded closer to home in recent months, after a nearly year-long moratorium on acquisitions. In April, it expanded into Arizona by acquiring a 300-agent brokerage in an all-equity deal and entered the upstate New York market that same month by recruiting the Upstate Curious Team from Keller Williams.