Compass

4.38
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/ based on 13 reviews

Reviews:

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4.38/5

based on 13 reviews

  • 9 Great
  • 1 Good
  • 2 Ok
  • 1 Bad
  • 0 Terrible
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I was on a team at Compass with just one other person. I only did 2 transactions with them. It was so slow - I left for a busier team.

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The main reason I left Compass was because my partner retired. I did enjoy my time there though. They paid for everything except for E&O. My partner shared my vision for how a team of agents working together can do beautiful things & all share in the success! I ended up finding a new high producing team in the luxury market.

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Nobody else has this kind of technology

No firm can beat the technology here. You can be assured that you are ahead no matter where your field carries you through... The company is evolving very rapidly so there is continuous career progression for everybody, and I think that is the best!

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My broker is great, and offers many different benefits to the agents. Compass overall is known for innovation in real estate. They provide me with all of the tools and resources so I can do my job more efficiently. Commission split is negotiable depending on what you are able to bring in.

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Terrific brokerage

We work with Compass real estate and they are terrific! They provide everything I need to succeed as a Realtor.

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Incredible

This company is incredible! I am very grateful for the opportunities and leanings this company has given me.

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Compass Invests In Us.

Compass offers exceptional professional development for us. They really invest in their agents' futures.

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Compass

The quality of the agents is better than other brokerage, but that is largely driven by the amount of money they have spent acqiring talented brokerages. Compass loves to brag about all of the money they have raised from venture capitalists. They are just spending more and more money to get "name brand" agents on board with MASSIVE signing bonuses that won't actually last. They are not running the brokerage like a business - which is going to hurt their prospects in the long run.

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Tech Brokerage

Compass is a great place to work at. They're innovative in technology. They help their agents with a lot of support. They have nationwide coverage to make sure clients find it seamless to communicate with us. The financial part of this is really good, this is a very good place to work at.

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Compass Real Estate in Dallas

They're incredible. Progress at work may be stagnant but if you are patient and will work hard, it will come to you. Commission is good!

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I'm with Compass Real Estate doing real estate sales and I get 100% of my business from my sphere of influence. There is no lead generation on their end. After all of the mergers/acquisitions, they have become more of a tech company than a real estate company. They are all about their apps and not generating new business for their agents.

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Only apply if you have experience, because they only hire the best of the best. My broker doesn't hire new agents. Compass leads the rest of the real estate world in technology and vision.

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No complaints

No complaints about Compass. They are a great company, everyone respects each other. You can go to the office and dress comfortably. The commission is fair. They have the greatest communication in the business and, I have not experienced anything unlikable in my stay here.

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About

Compass is a New York tech-based real estate brokerage. Compass strives to offer agents all the tools, resources, and support that will make their dreams a reality.  Compass isn’t afraid to define itself as a tech company. And to build their suite of tools, they have hired ex-engineers from tech-giants like Facebook. Their ultimate goal is an all-in-one platform for prospecting, lead generation, touring, closing, etc. 

So far, the money raised through venture funding rounds has been used to acquire smaller brokerages, hire employees (engineers, designers, marketers, data scientists, etc.,) and attract top agents through generous signing bonuses.

Compass is profitable in some markets and hopes to expand domestically & globally. It’s on the fast track to dominating the luxury homes market from coast to coast. Compass is also reportedly eyeing an IPO soon and has drawn significant backers like the Softbank Group Corp. It might not offer the training opportunities and brand-recognition sought by new agents today but does come with some level of prestige.

 

Compass Real Estate History


Compass was started by Ori Allon (now executive chairman) and Robert Reffkin (current CEO) in 2012. Before founding Compass, Ori worked at Twitter as the Director of Engineering and as a Team Member at Google. Reffkin was the Chief of Staff & Chief Operating Officer at Goldman Sachs.

The company’s mission is to “help people find their place in the world.” 

 

Interesting facts about Compass real estate


  • The company has consistently grown both in agent count and market share since its founding in 2012. 
  • It’s still the fastest-growing luxury real estate company and the largest independent brokerage in the U.S. 
  • The company’s goal in 2020 is to acquire a 20% market share in 20 of its top cities.
  • Compass has raised over $1.5 billion in venture funding.  In 2018, its revenues were projected to surpass the $1 billion mark with projected revenues of $2 billion in 2019. 
  • Most of their agents have come from acquisitions of smaller firms.

 

Values


pexels-rebrand-cities-1367272Compass is changing real estate by providing more value to agents than traditional brokerages. Some of the company’s values include encouraging associates to dream big, operate fast, obsess about finding opportunities, capitalize on their strengths, and collaborate. 

 

 

Compass real estate technology


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Unlike traditional firms that outsource their development work, Compass builds everything in-house. They offer tools that go beyond facilitating transactions, moving, and escrow. 

So, what tools does Compass real estate provide?

1) Compass Collections

Dubbed as real estate’s only visual workplace, Collections eases collaborations between clients and agents. Prospects can create collections of properties they like. The app then tracks the properties with real-time alerts on price changes, etc. Clients may invite their spouse or family members to view and comment on their collections. Listing agents get the chance to coordinate viewings easily.

2) Marketing center

Marketing Center brings the full power of a marketing department with preloaded templates for print, social media ads, and more. Agents can create beautiful marketing materials with a few clicks. 

3) Compass CRM

The CRM streamlines how agents interact with clients. It leverages AI to provide agents with insights, for instance, the customer’s likelihood of buying a particular property. 

4) Compass Markets

Compass Markets is an iOS app that gives users real-time transaction data and historical trends of up to 5 years. 

FAQs

Compass is consistently growing, though sources close to the company have revealed that it’s not yet profitable as a whole. 

Compass draws top agents since it promises flexibility, high-splits, and the chance for agents to build teams, while still providing the resources of big franchise firms. 

Some reasons to join Compass include: 

  • Agent support: Agents will benefit from the company’s technology, affordable healthcare plan, networking events, in-house marketing teams, advertising agents, and more. 
  • Compass Concierge program: Minor renovations can increase a property’s sales price. But some sellers lack sufficient funding to see such projects through. That’s where Compass comes in, providing direct financial assistance in aspects to do with floor repair, cleaning, carpet replacement, landscaping, etc. About $400 is expected in returns for each $100 invested by Compass in their Concierge program. Homeowners repay the invested amount from the sales proceeds, or if they decide to remove their homes from Compass Listing.
  • Compass doesn’t outsource any of its development. They are seeking to bring more tech and data to real estate.  

Robert Reffkin.  Refkin says he who grew up watching his mother – a real estate agent – switch firms looking for the best value, but never finding it. 

Compass doesn’t hire most of its agents organically – instead it has grown very quickly through acquisitions.. Still, you can find job openings for in-house teams on their career pages. They don’t tend to hire newbie agents – in general you need some minimum experience, for instance, at least one year working as a real estate agent and track record of closing deals.

Compass favors the independent model when it comes to commission splits. Some top-producers have negotiated splits as high as 90/10. Compass has been known to make short-term deals at very high commission splits – though the deal often expires after the first year, and is replaced by a more traditional commission split.

Agents report very low fees at Compass vs other brokerages – though we don’t have hard data on what the fees actually are.