Another luxury agent has left Coldwell Banker for Compass.
Steve Frankel, a 20-year Coldwell veteran, will join Compass’ Beverly Hills office, the Softbank-backed firm said Monday. Compass touted their new hire as Coldwell’s top agent in Beverly Hills by sales volume.
In July, Coldwell began consolidating its two Beverly Hills offices into one and a month later, a pair of Coldwell stars jumped to Compass. First, Chris Cortazzo and his 16-person team left, then a week later, Ginger Glass did the same. Other notable departures this year include the three-person Fran Flanagan Group — which worked primarily out of Pacific Palisades and Brentwood.
Frankel was already working with Compass on at least one luxury listing: a $25 million Bel Air mansion, which is co-listed with Aaron Kirman.
Frankel was the listing’s broker on a $9.5 million Bel Air farmhouse that closed in September and Beverly Hills estate on Tower Grove Drive that fetched $7.1 million in October.
He started at Coldwell after the brokerage acquired his previous employer, Fred Sands Realtors.
A Compass spokesman said Frankel and other agents have joined the firm because of its “platform software and its exclusive Compass Concierge program,” which fronts sellers money for renovations.
Coldwell did not return calls for comment but in a recent interview with The Real Deal, Coldwell Southern California President Jamie Duran downplayed Compass’ technology. Duran said she was “ok with being a little slower to execution and making sure that we have it done right.”