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New York City’s brokerages remain locked in a perennial competition to obtain and retain top talent. The city’s red-hot residential market — which shattered just about every conceivable record in 2021, particularly in the luxury segment — has only raised the stakes.
The Real Deal compiled agent headcount data from the New York State Department of State to find which brokerages have managed to stay atop the churn in terms of the total number of real estate salespeople and associate brokers.
The data below offer a snapshot of the total salespeople for each firm as of Dec. 15:
Compass leads the charge with just over 2,300 Manhattan agents. On a citywide basis, it was among the more resilient firms during the pandemic in terms of agent headcount, one of a minority of brokerages that had more New York City agents in May of this year than in March 2020.
Despite a significant round of layoffs at the onset of Covid, Compass CEO Robert Reffkin attributed the firm’s steady agent growth to its ability to onboard agents virtually.
It hasn’t been all roses for the Softbank-backed firm since its April IPO.
Compass stock tumbled to an all-time low last month, dropping below $10, where it remains as of Dec. 23, and reporting a $100 million net loss in the third quarter.
Familiar players Douglas Elliman, Corcoran and Brown Harris Stevens round out the top four, each with over 1,000 agents across Manhattan. Despite Compass’ aggressive, venture-backed foray into the New York City market, there remains a wide gulf between these old-guard firms and each of the remaining contenders on the list.