Compass To Acquire Westchester-Based Platinum Drive Realty
John Jordan | February 14, 2018
SCARSDALE—Compass, a real estate technology company, announced today it has agreed to acquire Platinum Drive Realty, a growing real estate brokerage headquartered in Scarsdale.
The acquisition comes on the heels of a recent $450-million investment in Compass by the Softbank Vision Fund and an expansion initiative to the Chicago, Dallas and San Diego markets. With the addition of Platinum Drive, Compass’ Westchester team would grow to more than 100 real estate agents representing more than $200 million in annual sales volume, Compass reports. No financial terms of the transaction were reported.
Platinum Drive, founded in 2006 by the husband and wife-team of Zach and Heather Harrison, has built a strong roster of agent talent, and fast. Platinum Drive was named to the Inc. 5000 Fastest-Growing Companies in America in 2014, 2015, 2016 and 2017, and the fastest-growing real estate firm in the Tri-State area by Inc. in 2015.
The firm currently has offices in Scarsdale, Larchmont, Chappaqua, Manhasset and Greenwich, CT.
Zach and Heather founded Platinum Drive Realty with the goal of bringing a fresh, professional approach to real estate. Both Heather and Zach grew up in Scarsdale (Class of 1991) Prior to starting Platinum Drive Realty, Zach worked as an attorney for an International law firm and Heather was a reporter for News 12 Westchester and a marketing and public relations consultant.
Heather’s grandmother Sunny Dubbs owned her own Scarsdale real estate company in the 1970s and 1980s.
“Working with Compass to empower our agents with their world-class technology and support is the best thing we can do to continue to grow our business and better serve our clients,” said Zach and Heather Harrison, co-founders of Platinum Drive. “Compass’ national network will allow our agents to reach markets and expertise that no other brokerage could. We can’t wait to help everyone in Westchester find their place in the world.”
“Zach, Heather and the rest of the Platinum Drive team share our desire to go beyond what most believe is possible,” said Rob Lehman, chief revenue officer at Compass. “Their track record of client centered brokerage and persistent growth makes them a great addition to the Compass family.”
Compass has committed to deepening its presence in its existing markets by opening 70 new offices in 2018. In addition to Westchester and New York City, Compass has a presence in Los Angeles, San Francisco, Boston, Washington, D.C., Chicago, Dallas, Miami, Orange County, The Hamptons, Santa Barbara and Montecito, and Aspen.
Compass is a real estate technology company with a powerful end-to-end platform that supports the entire buying and selling workflow. Founded in 2012 by Ori Allon and Robert Reffkin, Compass operates in 12 regions across the United States: New York City, Los Angeles, San Francisco, Boston, Washington, D.C., Chicago, Dallas, Miami, Orange County, The Hamptons, Santa Barbara and Montecito, and Aspen.
Editor, Real Estate In-Depth