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Boomerang OG Compass announced this week that it has once again re-attracted an agent who fled for another brokerage: Scott Fava.
Scott Fava
In a statement, the company announced Thursday that New York City-based Fava and the four other members of his eponymous team are leaving Nest Seekers to rejoin the Compass fold. The statement adds that the team has closed more than half a billion dollars over the years and that Fava is excited about the “advanced technology” at Compass.
“Our team possesses the distinctive ability to blend domestic and international expertise,” Fava said in the statement, “providing clients with unparalleled, worldly and well-informed decision-making.”
Fava previously worked at Compass between 2015 and 2019. According to his LinkedIn page, he then spent nearly five years at Nest Seekers.
In returning to Compass, Fava becomes what is sometimes called a “boomerang agent,” or an industry member who leaves a brokerage only to later return. Boomerang agents have become more common in recent years thanks to intensifying competition for top talent. However, Compass in particular has made a point of touting the agents it has re-recruited, many of whom have cited the firm’s technology as a major reason for their returns.
More broadly, the competition for top agents is now stretching into a new year; aside from Thursday’s announcement from Compass, eXp Realty also revealed this week that it had recruited two high-performing teams in Texas. Competition for agents has always existed but has become a bigger narrative in the real estate industry as a slowing market amplified the need for agents who know how to close deals in leaner times.
In the case of Fava, Compass said in its announcement Thursday that the team will continue to focus on the Manhattan and Brooklyn markets. Fava added in the statement that “returning to Compass wasn’t just a strategic decision for me; it was a personal acknowledgment of the transformative impact their technology holds.”
“More than just cutting-edge tools,” he added, “what sets Compass apart is the profound sense of community and interconnectedness among its agents.”
