Compass to overtake the luxury real estate sector

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.

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