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Tag Archives: compass

Compass Battling Regional Heavyweights, and Entering Seattle

by Drew Meyers on 9:15 am April 4, 2018

Tech enabled real estate brokerage darling Compass recently entered the Chicago market. Clearly, the local brokerage community noticed. Baird & Warner put an ad in the paper (via Geek Estate mastermind member Eileen of Truepad): @Properties put up the following billboard (via Eileen at Truepad via TheRealDeal): They are now entering Seattle. My hometown Seattle is the capital of real estate technology, with Zillow Group HQ and Redfin HQ less than a mile from each other, and a range of other startups in the area (including CityBldr … Read More »

The “Tech-Enabled Real Estate Brokerage” Pitch

by Drew Meyers on 11:00 am February 5, 2018

It’s widely agreed upon that the rise of tech-enabled brokerages are one of the major major trends to watch in the real estate industry. Namely, Redfin, Compass, eXp Realty, and NextHome. From an agent perspective, I’m trying to better understand how these new models differentiate from each other. This weekend, I took a peak at their websites and found a couple videos targeted at agents. From Compass: From NextHome: eXp has a Google Presentation worth looking at here. Redfin’s career pitch is on their real estate jobs page. If … Read More »

Will VOWs Go the Way of the Dark Ages?

by Drew Meyers on 9:40 am November 20, 2017

There’s a fantastic article on the topic of VOWs that Inman published last week. It’s written by David Kully, an antitrust partner for Holland & Knight LLP. Mr. Kully worked for 18 years at the Antitrust Division of the U.S. Department of Justice, where he played a central role on the DOJ’s litigation against the NAR. From the article… The DOJ’s litigation against NAR settled in 2008 only days before trial was scheduled to begin in federal court in Chicago. To settle the case, the DOJ and NAR negotiated a “consent … Read More »

Compass and Big Plans

by Drew Meyers on 4:26 pm November 7, 2017

I watched the video of Robert Reffkin’s vision for real estate’s future (via Inman)… Compass’ goal is 20% market share in the top 20 cities by 2020. How are they going to do it? Invest in their team (meaning buying agents), and build a…CRM? Say what? CRMs exist already. Many of them. Agents don’t use them. Yet another CRM isn’t going to solve that problem unless you change the core agent compensation model the way Redfin has. To grow a brokerage, you either buy/poach agents … Read More »

A New Real Estate Unicorn

by Drew Meyers on 11:20 am August 31, 2016

There’s a new entrant to the unicorn club: Compass (just closed on a $70 million round). I’m curious to hear the industry’s thoughts on how what they’re building is defensible? What’s their moat? They are poaching top talent from other firms, what’s to prevent the same thing happening to them in the future? I don’t have the answers, but am curious — especially if there are people reading who have used/seen their technology stack..

Urban Compass is Now Compass

by Drew Meyers on 2:32 pm February 19, 2015

Urban Compass (which I’ve written about before) recently re-branded to Compass, as they are expand outside of their urban NYC environment to the suburbs (Washington, D.C., Maryland and Virginia). They have money, are extremely well connected, and are investing heavily in tech tools. I like the newer, shorter name, but I’m sure that domain name cost them a pretty penny. My questions: What’s their core differentiator? What does the brand stand for? Is great tech enough?

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