Compass to overtake the luxury real estate sector

January 3, 2019
Share this Post: 

Compass, an increasingly popular luxury proptech brokerage company is continuing to dominate the luxury sector of the real estate industry within the 80 US cities it currently covers. Currently, Compass has 165 offices with 7,000 agents in 13 states, with over 1,000 employees.

Compass’ business model--“a national network of local experts,” has attracted investment capital from Softbank, Fidelity, Wellington Management, Goldman Sachs, IVP, Advance Publications, Founders Fund, Kenneth Chenault, chairman and CEO of American Express, Marc Benioff, chairman and CEO of Salesforce and LeFrak.

When Compass held it’s 2018 All Team Retreat in Los Angeles in late November 2000 Compass agents and employees filled the Orpheum Theatre where Compass Founder & CEO Robert Reffkin spread the Compass 2020 Vision. The plan--20% market share in the top 20 cities by 2020.

Over 7,000 additional Compass agents streamed the event according to Reffkin. The enthusiasm, energy, and excitement ran non-stop from the time Reffkin walked on stage to a standing ovation. The words on the giant screen behind Reffkin, “The future of real estate is in the hands of the agent.”

A graduate of Columbia, Reffkin spent time as a prestigious White House Fellow, at McKinsey & Company, the global management consultancy, then he moved onto Goldman Sachs on Wall Street before launching Compass.

Read more here

Join us in Bangkok the 19th to the 21st of March for the Property Portal Watch Conference.

24 Tickets

January 3, 2019

Subscribe to our mailing list to get the famous, free Friday newsletter!

News and analysis to help build better online marketplace businesses, in your inbox, every Friday

Related News

Strategic Partnership1 1
LankaPropertyWeb Partners with EMediaLinks to Market Sri Lankan Real Estate to Chinese and North American Investors

Sri Lanka-based real estate marketplace LankaPropertyWeb has partnered with U.S.-based property marketing company EMediaLinks to market property in Sri Lanka to...

Read More
Shutterstock 1118947796
Baltic Classifieds Group Sees EBITDA Margin Reach 78% in Bumper Half Year Results

The online classifieds operator Baltic Classifieds Group (BCG) has reported bumper numbers for the first half of its 2024 financial...

Read More
Streeteasy Skyline
Zillow-Owned StreetEasy Hikes Daily Listing Prices by 15%

StreetEasy has increased its daily listing fee for rentals—the fourth such hike since 2017. Agents will now pay $7 per...

Read More
Portal Standards Cover Art
Portal Standards Report 2023 - Which Features Are 'Standard' on Real Estate Marketplace Websites?

When you think of the ideal place to find a new home, you probably conjure up a mental image of...

Read More

Editor's Pick