Compass Acquires Colorado Brokerage

Compass is trying to climb the real estate mountain in the Rockies.

The country’s largest brokerage by volume acquired Colorado-based PorchLight Real Estate Group. The deal for the independent firm, which operates across the Denver and Boulder metro areas, adds to Compass’ growth streak.

Founded in 2005 by Amy Bayer and Carol Bayer, PorchLight did over $922 million in sales volume in 2024, according to RealTrends.

Terms of the deal were not disclosed.

The purchase represents Compass CEO Robert Reffkin making good on his expressed priorities to grow the firm’s reach. Reffkin this year announced the company’s goal to achieve 30 percent market share in its top 30 regions by 2030.

The firm has made headlines by inking sizable deals in the last 18 months, none bigger than its acquisition of @properties and Christie’s International Real Estate, which closed at the beginning of this year for over $400 million. In the first quarter of this year, Compass grew revenue 29 percent to $1.4 billion, with 9 percentage points of that growth attributed to the deal for @properties and Christie’s.

Compass has also added a number of smaller regional firms, including D.C.-based Washington Fine Properties, Tennessee-based Parks Real Estate and Gulf Coast-based Latter & Blum.

In May, Compass announced Latter & Blum CEO Lacey Conway would take over as head of its mergers and acquisitions division.

The firm appeared close to its largest coup yet when it was reported that it was in talks to acquire the real estate arm of Berkshire Hathaway, the country’s fourth-largest brokerage. But those rumblings have yet to materialize.

The Colorado real estate market has mirrored that of the broader country. While listings in May were up almost 30 percent from the prior year, sales were down almost 2 percent, according to data from the National Association of Realtors.

Compass previously inked a deal in the Centennial State in 2021, when it acquired Denver-based First Alliance Title.

Compass stock price has seen a drastic run-up alongside its aggressive M&A tactics. In the last year, its stock is up over 70 percent to $6.29 before today’s market open. Despite a mid-spring swoon, its stock is also up over 8 percent year to date.