Compass has grown rapidly by offering agents shares in the company and in some cases cash. But the company has now cut those perks as the market slows way down
The fast-growing brokerage earned $2B in revenue during the second quarter of the year, but also saw losses rise to $101M, according to an earnings report issued Monday
Jones comes to Compass following several years as co-owner and chief people officer at Realogics Sotheby's International Realty, a top Sotheby's franchise located in Seattle
The ranks of the real estate industry have swelled over the past decade, but some experts who spoke to Inman believe a trend in the opposite direction may be picking up speed
The layoffs will involve full-time employees, not agents, and come as the housing and stock markets experience a major shift
While real estate industry layoffs largely began with companies that provide mortgages and mortgage-related services, everyone from Adwerx to Zumper has been impacted by the downturn
The companies all debuted within a few slots of established player Realogy, and highlight both the role of tech in real estate and the rise of bitter rivalries
Chief Financial Officer Kristen Ankerbrandt will leave the company in September, while Greg Hart will become Compass' new chief operating officer
Compass agents did 47,367 deals between January and March of 2022, which represents a new high for the brokerage, according to a Q1 earnings call on Thursday
The ‘engineering visionary’ who also worked at Slack, Zynga and Cisco Systems, will help guide Compass during a period of rapid growth
New York Supreme Court Justice Barry Ostrager recused himself from the long simmering case on Tuesday, 3 months after his co-op went under contract with a Compass broker
EXp Realty took the top spot for transaction sides. Both it and Compass grew sides and volume by hundreds of percent over the past year, according to real estate analysis and consulting firm T3 Sixty
Inman Connect Las Vegas is right around the corner. Get your ticket now for the best price
Mindbody CEO Josh McCarter has become New York City-based brokerage Compass' seventh board member. McCarter will help bolster Compass' agent scheduling and payment tools
In a heartfelt letter posted on LinkedIn, Compass founder and CEO Robert Reffkin addressed stock market troubles and cast his vision for the future on the 1-year anniversary of going public