Real Estate Brokers Express Concern as Compass Gobbles up Glide

Brokers react as Compass gobbles up Glide

Published May 4, 2021

Compass scooped up Glide this week and non-Compass brokers are not impressed.  We’re hearing from industry observers that concerns abound among current and potential Glide customers.

For anyone not following the news, Glide is a regional provider of transaction management tools, such as digital disclosures and closing forms.  Recently Compass, the nationwide residential brokerage that went public earlier this year, announced that they were buying Glide.  This move suddenly puts the transactional data and back end processing of many brokerages into a competitor’s hands.

Compass did their best to get ahead of these concerns.  Greg Hart, Compass Chief Product Officer stated that, “Glide remains committed to being a trusted and open platform available to all agents across the industry.”  But is that realistic?  

Brokers watching the big picture point to the fact that in recent years, Compass has been sued for theft of data and intellectual property many times, including suits brought by Zillow, Lone Wolf Technologies, and Realogy.

Even the California Realtors Association, which recently inked a partnership deal with Glide, appears to be investigating the risk.  On Monday, a California Association of Realtors spokesperson commented on the deal, saying “Of course, CAR is examining all of its options to make sure that data integrity and CAR’s high standards of privacy for its members and their clients are protected.” 

Are you one of the 60,000 industry professionals with Glide embedded in your organization?  What do you plan to do about this?  Are you evaluating other disclosure options like Sellers Shield or brokerWOLF?  Or are you sitting tight to see what Compass does?  Join the discussion on Facebook and let us know what you think.