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Strough Real Estate Associates in Sag Harbor is merging with Compass, creating what will eventually be the third Hamptons outpost for the newest brokerage on the block.
Compass, a technology-driven company, is also scouting for a fourth location in Southampton.
With more than 30 years of experience in the real estate industry, Scott Strough founded his own brokerage in 1995 and has served as its principal broker. He was also president of the Southampton Town Trustees for 17 years. The Trustees serve as stewards of the local waterways, shoreline and marine environment.
“When we met with Compass … it was apparent that these are very smart people, very professional, and really had a handle on the ingredients that we needed to move on,” Mr. Strough said on Tuesday. Those ingredients include a network that spans internationally, as well as greater advertising and marketing opportunities. “I’m really excited to get onto what some would perceive to be a bigger playing field and to be able to showcase not just my talents but my organization’s talents, because now we can compete with anyone,” said Mr. Strough.
The eight-person team at Strough Real Estate on Main Street will operate as part of the Compass brand, effective immediately.
Compass opened its first office in this area in Bridgehampton in October, announcing plans to open a second in East Hampton soon thereafter.
“Sag Harbor is an important and increasingly popular sub-market in the Hamptons, and the Compass brand needed to have a presence here,” Robert Reffkin, Compass founder and CEO, said in a statement.
Compass entered the Hamptons real estate market with a flurry of controversy. Brown Harris Stevens sued former employee Ed Reale last November, a little more than a month after he left that firm for Compass. The suit alleges that Mr. Reale had violated a non-compete agreement and accuses the young real estate firm of “unlawfully ‘poaching’ competitors’ employees.”
In December, Saunders & Associates issued a temporary restraining order against Compass. The brokerage accused former Saunders employee Meg Salem and her team, who left to join Compass, of stealing more than 11,000 listings from them. Ms. Salem and colleague Vanessa Bogan are no longer working for Compass.
However, Mr. Strough is not concerned about the litigious activity, noting that Compass representatives have maintained a level of integrity that stood out to him. Instead, he is focused on adapting and building his business.
“If you don’t change, and you don’t see that change is necessary, you’re not going to be successful,” said Mr. Strough. “This is just what we believe to be a terrific fit, and everyone is really excited.”
on Jan 6, 2016