Mike DelPrete Intel exclusive: Big brokerages spar in race to cut costs
All of the biggest players in real estate are cutting costs, but some are better off than others to weather the storm, Mike DelPrete argues in his first exclusive filing for Inman Intel
by Mike DelPrete Jan 18
What happens when the battle for agent count runs out of steam?
Newer upstarts and legacy companies have spent recent years competing intensely for top agents. But recent data suggests the years of fast growth may be ending
by Jim Dalrymple II Jan 18
Indie brokerages lead the way in 2022 NYC agent growth: Report
NYC-based real estate license education platform Corofy released its latest brokerage ranking list which was dominated by independent firms, including SERHANT. and Casa Blanca
by Marian McPherson Jan 17
Meredith Pierson teams up with Missy Jerfita at Compass
Following her departure from Berkshire Hathaway HomeServices, Pierson joined forces with Jerfita to build on Jerfita's existing team and create the Jerfita Pierson Team at Compass
by Lillian Dickerson Jan 11
Compass faces first downturn amid pressure to cut costs
The brokerage has dominated the conversation for years in real estate but is now faced with the task of becoming profitable amid its first major market downturn
by Jim Dalrymple II Jan 11
10 months after 'The One,' Richard Saghian scoops up $40M Malibu pad
Not content to pause after purchasing 'The One' megamansion for $126M in March, the Fashion Nova founder also added the $40M Billionaire's Beach property to his portfolio recently
Compass seeks to sublease NYC headquarters in belt-tightening play
The New York-based brokerage is shopping around 89,000 square feet of office space at 90 Fifth Ave. in Manhattan as it looks for ways to stem its losses, which clocked in at $154M in 3Q22
by Ben Verde Jan 6
Compass launches third round of layoffs as job cuts extend into 2023
Compass CEO Robert Reffkin sent an email to staff on Thursday morning informing employees of the latest staff reduction, marking the third round of layoffs in 8 months
by Ben Verde Jan 5
Here are the 30 most expensive home sales of 2022
The luxury real estate sector faced its ups and downs as the market entered a period of significant transition, but that didn't prevent luxury clients from making some stellar deals
by Lillian Dickerson Dec 30
Luxury in '22: Market slowdowns, reality TV, the metaverse and more
Luxury buyers finally decided to take a pause in 2022 as economic volatility shook the market. But despite a market slowdown, luxury companies and agents kept making interesting moves
by Lillian Dickerson Dec 23
The McNair Group rejoins Coldwell Banker after 4 years at Compass
Following a 4-year stint at Compass, the 5-person McNair Group has returned to Coldwell Banker, where the team was founded in 2008, it was announced Friday
by Lillian Dickerson Dec 20
Compass seeks antitrust settlement with NYC's largest real estate association
The brokerage sent a letter to the District Court for the Southern District of New York seeking to settle its dispute with the Real Estate Board of New York, or REBNY, outside of the courtroom
by Ben Verde Dec 14
‘Unfixable?’ Wrong. Compass isn't broken
Compass broker David Schlichter says that critics like Jason Oppenheim are missing the bigger picture, and that this underdog brand will withstand gusty headwinds
by David Schlichter Dec 6
Matthew Gardner, Jason Oppenheim, Mike DelPrete: Inman's Top 5 stories of the week, Nov. 25 - Dec. 1, 2022
Catch up on the most-read stories of the week, as determined by Inman readers. Here's Inman Top 5 for Nov. 25 - Dec. 1, 2022
by Dani Vanderboegh Dec 2
All brokerages are entering the winter of real estate: Mike DelPrete
Now that earnings are in for the big box brokerages, the anticipated revenue decline is clear. But does it tell the whole story?
by Mike DelPrete Nov 30
Jason Oppenheim: 'There's no fixing Compass. It's unfixable'
In a discussion after Q3 earnings in which Compass reported falling revenue, Inman asked the 'Selling Sunset' star to expand on remarks he made about the brokerage at ICLV. He obliged
by Dani Vanderboegh Nov 28
SERHANT. nabs Compass' Downtown Manhattan sales director
Dennis Cusack specializes in Manhattan's luxury co-ops, condos and townhouses. He was Compass' director of sales in downtown for about 3.5 years
by Lillian Dickerson Nov 17
Compass must cut faster and deeper to break even in 2023: DelPrete
With a historically high cash burn, Compass needs to cut faster and deeper than most other brokerages — and it is
by Dani Vanderboegh Nov 16
Aaron Kirman leaves Compass for Christie's International
Kirman's move will see his team become a brokerage that operates in partnership with Christie's. The move comes at a time when competition for talent is more intense than ever
by Jim Dalrymple II Nov 15
Compass adds agents as revenue falls, losses rise in Q3
The company reported earnings Thursday for the first time since announcing the end of cash and stock-based recruiting incentives. Despite the move, the company added 335 agents
by Jim Dalrymple II Nov 10
Abuzz, then a bust: What happened with all that big 'platform' chatter?
Real estate platforms were a hot topic a few years ago, but for even some of the biggest companies, sprawling enterprise has been the quickest way to failure, Inman founder Brad Inman writes
by Brad Inman Nov 7
Compass agrees to waive broker fees for NYC Section 8 renters
Compass must waive broker fees for the first 25 Section 8 renters who lease a property through the brokerage, said New York's Attorney General of new terms to a discrimination settlement
by Marian McPherson Nov 2
British fashion entrepreneurs sell Beverly Hills home for $35.25M
The 6,230-square-foot property sold by British fashion entrepreneurs Tom and Ruth Chapman was put on the market for $42M in June. It's located in the celebrity hotbed of Trousdale Estates
by Lillian Dickerson Oct 31
How a strong culture is getting Compass through tough times
On the last day of the Compass REtreat, Compass President of Customer Success Danielle Wilkie sat down with Inman to talk about how a strong culture is key to the company's 2023 strategy
by Marian McPherson Oct 31
Compass taps Cushman executive as chief financial officer at pivotal time
Kalani Reelitz joins the brokerage at a time of significant transition, and as it tries to achieve positive cash flow next year
by Jim Dalrymple II Oct 28
Even in a topsy-turvy market, some agents are still drawing tons of bids
Even as home prices and rates hit record highs, it's still possible to attract multiple offers when a property stands out or it's priced to sell. 'We priced it right — right away,' one agent told Inman
by Ben Verde Oct 28
5 takeaways from Compass REtreat on seizing a slowing market
Five of Compass' top real estate agents, team leaders and executives shared tips for recruiting, marketing, generating leads and maintaining their mental health during a market shift
by Marian McPherson Oct 27
Widow sues Compass for alleged abuse in pocket listing sale
The lawsuit alleges Compass agent Cory Cooper pressured an elderly homeowner to sell her property off the multiple listing service to a real estate investor he knew
by Andrea V. Brambila Oct 27
Robert Reffkin gets real at Compass REtreat: 'Hope is not a strategy'
At Compass' annual REtreat in Atlanta, CEO Robert Reffkin used his keynote to give an honest and intimate review of his company's post-IPO performance and cast a vision for the future
by Marian McPherson Oct 26
Team Banx leaves Berkshire Hathaway for Compass
The 11-person team closed $62M in 2021, becoming the No. 11 large team in New York state based on transaction sides and the No. 33 large team in the state based on sales volume
by Lillian Dickerson Oct 25
4 things to watch as Compass' annual conference unfolds this week
Compass became the largest company of its kind in the US this year, but is holding its annual gathering as the real estate industry navigates uniquely troubled waters
by Jim Dalrymple II Oct 25
hunt, predator, prey, hunter
Cash is king. In today's market, a company’s cash flow determines if it is in control of its own destiny
by Mike DelPrete Oct 24
Top producers share how agents can dominate their markets this fall
During an Inman Connect panel, industry experts recommended that agents be ready to provide more context to buyers and sellers and be proactive about building relationships
by Taylor Anderson Oct 19
The Agency's Mauricio Umansky on what's hurting brokerages the most
At Inman Connect, Brad Inman and Mauricio Umansky, founder of luxury brokerage The Agency discussed what's happening in the market now and how it's impacting brokers and their agents
by Lillian Dickerson Oct 19
Forget McMansions — these wealthy homeowners dig McBasements
When city or county restrictions are cramping their styles above ground, luxury homeowners are taking matters into their own hands and building out the basements of their wildest dreams
by Lillian Dickerson Oct 14
Anywhere and Compass settle agent recruiting suit, capping 3-year feud
The companies submitted a joint filing to the New York Supreme Court on Oct. 4 asserting they had agreed to end the litigation permanently and that each side would pay their own costs
by Andrea V. Brambila Oct 11
The Agency launches new market in La Jolla, San Diego
The office marks the company's 63rd location overall and 21st office in the state of California. Mike Schwartz, formerly of Compass, will lead the office's operations as regional manager
by Lillian Dickerson Oct 10
Compass denies reports of private equity takeover
An Insider report published Wednesday cites 3 unnamed sources who said Vista Equity along with another private equity company could be involved in a deal to take the brokerage private
by Ben Verde Oct 6
Compass takes over sales from Corcoran at NYC 'condop' building
After selling 8 out of its 13 units, the condop, a building comprised of condominiums and co-op units, at 1228 Madison Avenue is bringing on a new real estate brokerage to finish the job
Rhode Island's Kirk | Schryver Team joins Compass
The team is No. 1 by sales volume in Bristol County and Barrington, Rhode Island, according to MLS data and was ranked the No. 2 small team by sales volume by RealTrends in 2021
Holy political fix, Batman! Compass broker at center of Batmobile probe
Broker Sam Anagnostou allegedly used political connections in California to press criminal charges against an automaker he accused of failing to deliver a $210K replica Batmobile
by Ben Verde Oct 4
Luxury home sales plunge to 10-year low, surpassing COVID levels
Luxury home sales in the US dove by 28.1% year over year during the 3 months ending Aug. 31, 2022 — eclipsing the 23.2% drop in luxury sales at the height of the pandemic, Redfin data shows
by Lillian Dickerson Sep 22
Compass lays off more workers, with technology department hit hardest
Compass laid off a significant chunk of its technology team, according to press reports that appeared to suggest hundreds of jobs slashed. This is the second round of layoffs this year
by Marian McPherson Sep 20
Swanepoel says this company is still ‘the 800-pound gorilla’ in real estate
Several newer brokerages have made big strides. But real estate executive Stefan Swanepoel says one established juggernaut still looms large: The holding company formerly known as Realogy
by Daniel Houston Sep 15
Kim Kardashian lists 2 California homes in the same week
The reality star and businesswoman is offloading homes purchased during her marriage to Kanye West. On Sept. 6, she relisted an apartment for $3.5M and Sept. 8, she listed an estate for $5.3M
by Ben Verde Sep 14
Real estate companies dip as stock market tallies worst day in 2 years
Real estate stocks fell on Wall Street, too — though even before the carnage they were hovering near all-time lows
by Jim Dalrymple II Sep 13
Sale of 290-acre estate breaks records in New York's Hudson Valley
The property, known as Steen Valetje, was sold to an unknown buyer by owner Suzy Welch, wife of the late former General Electric CEO Jack Welch, for $18.5M
by Ben Verde Sep 13
The top luxury real estate agents serving Hollywood in 2022
The Altman Brothers, Santiago Arana, Aaron Kirman, Chris Cortazzo, Sally Forster Jones, Joyce Rey and more are featured in this year's list of standout agents from 'The Hollywood Reporter'
by Lillian Dickerson Sep 12
Everything to know about Compass' tech as the brokerage pivots
Compass has grown rapidly, but is now tasked with becoming profitable. Chief Operating Officer Greg Hart spoke to Inman about this key moment for the firm
by Jim Dalrymple II Sep 12
The Alan Louie Team joins Coldwell Banker Warburg from Compass
New York City luxury and new development real estate specialist Louie joins the firm with nearly 2 decades of experience and team members Kwesi O. Kwarteng, Eunice Kim and Alice Wang
Crypto executive spends $18.9M on Brooklyn Heights townhouse
Coinbase executive Joseph Lallouz and his wife Chloe Thevenoz paid $18.9M for the five-story brownstone and a separate carriage house in the 'beacon of hope,' reports say
by Ben Verde Sep 8
2 top-performing Rhode Island real estate agents move to Compass
Kira Greene is co-founder of the Greene Sweeney team, which was named the No. 1 small team in Rhode Island by sales volume in 2021. Kevin Fox was the third-highest producer in Providence
Compass marketing leader in Colorado lands at Sotheby's
Megan Maynard, who served as Compass's marketing director for Colorado, Missouri and Utah, has joined LIV Sotheby's International Realty in Colorado as senior vice president of marketing
by Ben Verde Sep 7
Real estate stocks are getting absolutely destroyed right now
Multiple real estate companies are seeing share prices fall to all-time lows. If they can't turn around stock market performances, falling share prices could have profound impacts
by Jim Dalrymple II Sep 2
In tug-of-war between New York and Florida, the boss may have final say
Homeowners who fled Manhattan to Florida during the pandemic are responding to pressure from employers to return to offices in New York. Faced with sun and sand, some aren't ready
Compass Houston's founding agent jumps to Sotheby's
Bryan Beene is jumping ship to Martha Turner Sotheby's, leaving the office he founded in 2019 behind as the now-public company reaches a critical juncture, a report says
by Ben Verde Sep 1
EXp picks up top-performing teams from Keller Williams, RE/MAX
The Incorvaia Team and the Ige Johnson Group are the latest in a long string of teams to jump ship for the virtual brokerage
by Jim Dalrymple II Sep 1
MLS-listed homes sell for more, a new study claims. But there's 1 twist
Critics raise issues over conclusion that listing homes on the MLS is what caused higher sales prices and faster transactions, especially if NAR rules mean MLSs have a thumb on the scale
by Andrea V. Brambila Aug 31
New Keller Williams franchise scoops up 2 dozen Compass agents
Keller Williams Jackson Hole launched this month in Wyoming and has drawn most of its agents from a brokerage that Compass acquired last year, creating 'one big team'
by Jim Dalrymple II Aug 30
Compass is 'the world's most unprofitable brokerage ever': Mike DelPrete
In a recent VICE interview, Mike DelPrete offered his thoughts on how Compass' longstanding cash burn problem could pose an existential threat to the brokerage and its ability to compete
by Christy Murdock Aug 29
Compass lets go of Chief Technology Officer Joseph Sirosh
Sirosh spent more than 4 years at the brokerage. He was most recently in the news for selling hundreds of thousands of Compass shares
by Jim Dalrymple II Aug 25
Will Compass' changes to agent pay slow its growth?
The brokerage has grown rapidly thanks to generous handouts of cash and stocks to newly onboarded real estate agents. But amid leaner times, those perks are going away
by Jim Dalrymple II Aug 24
Revive Real Estate hires former NAR incubator executive
Real estate venture capitalist Kia Nejatian joins the renovation startup as the company anticipates growth in a buyer's market
by Andrea V. Brambila Aug 23
2 Compass execs sell $1M worth of Class A shares
Joseph Sirosh and Danielle Wilkie sold their shares last week, according to a Securities and Exchange Commission filing. Both executives scheduled the sell-offs in May
by Marian McPherson Aug 22
International buyers are back — and they're eyeing secondary markets
Just as US homebuyers did 2 years earlier, luxury international buyers are rushing to secondary cities with investment potential, including Austin, Boise and... Bentonville, Arkansas?
by Lillian Dickerson Aug 19
Larry Ellison lists North Palm Beach oceanfront home for $145M
The move comes a little over 1 year after purchasing the property for $80M, and about 2 months after buying a separate $173M estate in nearby Manalapan from tech entrepreneur Jim Clark
by Lillian Dickerson Aug 17
Incentives slashed, downlines dropped. Time to sell real estate
As Compass pulls back on sign-on sweeteners and downlines ain’t what they used to be, some newer agents are having to learn how to build a business from the ground up — all over again
by Troy Palmquist Aug 17
Compass cuts continue in response to cash burn: DelPrete
Find out what Compass' Q2 earnings numbers mean and what it's doing to cut costs in the face of its ongoing cash burn
by Mike DelPrete Aug 17
Compass doubles down in St. Louis with aim to recruit 300+ agents
Compass, the largest brokerage by closed sales volume nationwide, is opening its second St. Louis branch following its first in June 2021, which has grown to more than 120 agents and staff
by Andrea V. Brambila Aug 16
Compass ditches stock, financial incentives in recruiting
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
by Jim Dalrymple II Aug 15
Compass revenue ticks up slightly as losses mount in Q2
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
by Jim Dalrymple II Aug 15
Everyone is coming after agent commissions, DelPrete tells ICLV
During a session Wednesday at Inman Connect Las Vegas, real estate tech expert Mike DelPrete said staking out a piece of the agent commission pool is baked into newer business models
SERHANT. snags 4 new agents, including 3 from Compass
David Fernandez, Jennifer Lee and Emanuele Fiore join the company from Compass, while Jason Christie comes from his independent brokerage, The Polaris Team
Gary Gold, Dottie Herman inducted into Inman Golden I Hall of Fame
Inman Luxury Connect brought out luxury's finest at the Aria Resort and Casino in Las Vegas, rewarding some of the best in the industry on Wednesday with luxury real estate's highest honor
Here's how to successfully scale up a luxury real estate team
Culture, perks and leading by example are key parts of building a team that dominates in high-end real estate, real estate leaders said Tuesday at Luxury Connect in Las Vegas
by Jim Dalrymple II Aug 2
Compass names new sales manager for Colorado
Compass named veteran agent Lacey Strange to its Colorado Sales Management team this week, the company announced Friday
by Ben Verde Jul 29
Compass brings on Stacy Jones as head of Luxury Division's top agents
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
by Lillian Dickerson Jul 28
The skills these top luxury agents brought to real estate are priceless
From the NFL to the entertainment industry, past work experiences have helped luxury agents gain a valuable leg up in their real estate careers, helping launch them to the top of their field
by Lillian Dickerson Jul 22
Compass names former Long & Foster official as sales manager
Suzi Padgett was hired as the brand's Maryland sales manager, bringing decades of experience in the DMV area. 'We are thrilled to welcome her to our team,' Kimberly Harris said in a statement
by Ben Verde Jul 19
Mike DelPrete: In cooling market, agents are in for a 'dogfight'
Real estate tech expert Mike DelPrete will share what companies are doing to emerge victorious amid uncertainty at Inman Connect Las Vegas next month
by Andrea V. Brambila Jul 12
June jobs report reveals impact of layoffs on real estate industry
Fears of impending recession and a spate of prominent layoff announcements put only a moderate damper on real estate hiring last month, according to the US Bureau of Labor Statistics
by Daniel Houston Jul 8
Former Spears Group CEO joins Corcoran Reverie
Brian Fairweather joined the Spears Group at Compass in 2020 and was promoted to CEO in early 2022. At Corcoran Reverie he will oversee aspects of the firm's growth strategy
Los Angeles, Manhattan sweep biggest city deals of 2022 (so far)
From Beverly Hills to Billionaire's Row, home sales in LA and NYC towered above normally hot Miami and San Francisco, according to an analysis of the top 10 city deals since October 2021
'Rocky Mountain High': 10 top ranch and mountain deals of 2022 (so far)
Aspen, Colorado, a winter playground for the rich and famous, produced 4 out of the 10 biggest mountain and ranch transactions since October, according to a new analysis by Inman
Manhattan market shows signs of cooling despite sky-high sales in Q2
The residential market continued going strong but showed signs of reaching a tipping point, according to data released by New York City brokerages
by Ben Verde Jul 5
Palm Beach, Malibu clinch biggest luxury beach sales of 2022 (so far)
Palm Beach, Malibu and the Hamptons drew luxury homebuyers seeking more tranquil post-pandemic lifestyles, according to an analysis of the top 10 beach transactions since October 2021
An exclusive preview: The biggest luxury deals of 2022 (so far)
Here's a preview of what's to come as we kick off Luxury Month and dive into the biggest market trends of 2022. Check back next week as Inman ranks the biggest deals of the past 12 months
NYC listing with glorious in-kitchen shower hits market for mere $1.5M
The listing is for 2 separate apartments next to each other — but there's a catch, and it's a big one
by Ben Verde Jul 1
Amy Schumer in contract to buy 'Moonstruck' house in Brooklyn
Schumer is said to be in contract to purchase 19 Cranberry Street in Brooklyn Heights after touring a number of other townhouses in the neighborhood
by Ben Verde Jun 30
Why real estate offers the biggest opportunity to new tech companies
The real estate industry is ripe for innovation. As agents continue to struggle to solve big and small problems, new tech is always welcome
by Georg Chmiel Jun 24
'Selling Sunset' breakout star Maya Vander moves to Compass
The agent, who in May launched her own team, the Maya Vander Group, will be working out of Compass's Coconut Grove office in Miami
by Ben Verde Jun 22
Agent arrested: allegedly kidnaps, ties leash around woman's neck
Luxury real estate agent Kerry Endsley is no longer affiliated with Compass, the brokerage said. 'Upon learning of the alleged incident we moved quickly to part ways with this individual'
by Andrea V. Brambila Jun 21
As layoffs continue, Inman revives Talent Pass for Connect New York
With job cuts in the real estate industry continuing, Inman is launching a Talent Pass to provide newly jobless real estate professionals free access to Inman Connect New York in January
by Inman Jun 21
Millennial art buyers, 'toe dipping' and the return of staycations: 8 summer trends you need to know
The rise of the millennial art collector, testing the waters in a new locale and vacationing closer to home are all trends luxury real estate agents are seeing from their clients moving into summer
by Lillian Dickerson Jun 17
Jason Oppenheim doesn't want to talk about 'Selling Sunset' right now
Inman spoke with Oppenheim Group founder Jason Oppenheim and vice president Mary Fitzgerald about market turmoil, layoffs and the road forward ahead of Connect Las Vegas
by Lillian Dickerson Jun 17
Do better: Stop rejoicing over industry layoffs
Laughing and cheering at the expense of others, whether those others are real estate professionals losing their jobs or celebrities embroiled in abusive situations, has no place in this industry
by Jay Thompson Jun 16
Do layoffs at Compass and Redfin signal a looming real estate purge?
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
Compass announces new sales managers for San Francisco office
The company has hired Arthur Meirson, from Coldwell Banker, and will promote agent Christine Schoen to serve as sales managers at its flagship
by Ben Verde Jun 14
Compass to cut workforce by 10% amid worsening economy
The layoffs will involve full-time employees, not agents, and come as the housing and stock markets experience a major shift
by Jim Dalrymple II Jun 14
A man examining a contract closely
California-based agent Mindy Ni alleges Compass failed to pay her commissions and misled her as to the terms of her independent contractor agreement in order to recruit her
by Andrea V. Brambila Jun 10
Sotheby's, Ben Caballero, sweep RealTrends The Thousand rankings
Caballero completed $1.98B in sales volume in 2021, and Sotheby's International Realty boasted the most agents in the individual agent by sales volume category
by Lillian Dickerson Jun 10
Red flag! 13 things agents should watch out for when being recruited
Here's what some agents who have recently made strategic moves have to say about keeping one's eye on the prize when it comes to negotiating contracts with a new brokerage
From 'Better' to worse: Real estate companies making layoffs so far
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
by Matt Carter Jun 3
Market shifts, rate hikes and why real estate stocks can't get a break
As real estate enters what one observer called a 'Wile E. Coyote' moment, real estate companies’ share prices continue to struggle amid market uncertainty
by Jim Dalrymple II May 30
Luxury home auctions are having a moment. Here's how to get in on it
Luxury homes that eventually go to auction sometimes come across as the black sheep of listings and require a nuanced approach. Here are luxury agent Aaron Kirman's top tips for success
by Lillian Dickerson May 27
Opendoor teases a non-MLS platform to market its inventory
Tucked away in Opendoor's recent earnings call was an illuminating statement by its CEO that sheds light on its exclusive supply strategy
by Mike DelPrete May 25
Zillow, Opendoor and Compass debut on the Fortune 500
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
by Jim Dalrymple II May 23
Compass expands to 30A, brings on Spears Group, more agents
With the move into 30A, the brokerage brings on 20 new agents in the region, who represented over $720M in sales volume in 2021, to better serve their clients
by Lillian Dickerson May 20
Compass approaching 'critical' cash burn: Mike DelPrete
Compass is not in immediate peril, but it is approaching a critical juncture where it will either need to raise more money or reduce expenses
by Mike DelPrete May 18
Adam Levine sells LA compound for $51M just 1 month after trading up
The singer and his wife, the model Behati Prinsloo, listed their Los Angeles compound less than 2 months ago for $57.5 million
by Ben Verde May 13
Compass CFO to resign while chief product officer gets promotion
Chief Financial Officer Kristen Ankerbrandt will leave the company in September, while Greg Hart will become Compass' new chief operating officer
by Jim Dalrymple II May 12
Compass trims losses slightly in Q1, sees revenue jump 25%
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
by Jim Dalrymple II May 12
Brokerages push back on NAR ad campaign targeting 'competitors'
The trade group highlighted its own members — including Zillow, Compass, Redfin, Homie, Opendoor and Offerpad — among those whom it's competing with for consumer mindshare
by Andrea V. Brambila May 12
Debt-ridden Bel Air mega-mansion fails to nab $50M target at auction
As of the auction's closing bid on Monday, celebrity botox doctor Alex Khadavi's Bel Air mansion had gone for $46.76M, below the $50M reserve price set by bankruptcy courts
by Lillian Dickerson May 10
Compass brings Shopify CTO Allan Leinwand on as board member
The ‘engineering visionary’ who also worked at Slack, Zynga and Cisco Systems, will help guide Compass during a period of rapid growth
by Jim Dalrymple II May 9
Home owned by Dolly Lenz has ties to Brad, Angelina and the paparazzi
Sold earlier this week for $13.6M, the former Douglas Elliman vice chair's home boasts 8 bedrooms, 7-and-a-half bathrooms and a Hollywood connection to Brad Pitt and Angelina Jolie
by Ben Verde May 6
From Airbnb to Zillow: How real estate is dealing with Ukraine crisis
As US businesses withdrew from Russia, Inman surveyed the nation's top real estate companies. Read on to see how 23 of the industry's most notable companies have responded to the conflict
by Ben Verde May 5
From ballet to real estate: 'Workin' Moms' star joins Engel & Völkers
Since 2016 in-between acting gigs, Realtor Jessalyn Wanlim has affiliated with Engel & Völkers because of the brand's widespread appeal across different cultures
Compass acquires Consumer's Title Company of California
Announced Tuesday, the acquisition greatly expands the brokerage's title insurance reach in the Golden State, where it already claims to be the largest independent real estate brokerage
by Ben Verde May 3
Reese Witherspoon sells Brentwood estate for $21.5M within 1 month
The 10,000-square-foot home sitting on 3 acres and displaying views of Mandeville Canyon was originally purchased by a trust linked to Witherspoon in 2020 for $15.895M
Family, staff and hours: 7 sacrifices agents are making amid tough times
As they consider the uncertain future ahead, here's what real estate agents are giving up in their professional and personal lives
Judge in Realogy-Compass suit steps down due to Compass listing dispute
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
by Marian McPherson Apr 28
Quetzal Grimm leaves Compass to expand The Agency in Silicon Valley
Grimm, who most recently served as a sales manager at Compass, will lead The Agency's expansion throughout Silicon Valley with offices located in Los Altos, Palo Alto and Woodside
by Lillian Dickerson Apr 28
Compass dethrones Realogy as top brokerage in T3 Sixty Mega 1000
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
by Jim Dalrymple II Apr 28
Corcoran lands top spot in first-ever UrbanDigs NYC brokerage rankings
Corcoran took the top spot in Manhattan and Brooklyn with $2.54B in signed contracts, with Compass following close behind, according to the firm's inaugural NYC quarterly report
by Lillian Dickerson Apr 28
Venture fund for nation's biggest MLS will eye agent-friendly startups
With its venture capital firm — the first-ever created by a multiple listing service — CRMLS will focus only on early-stage companies improving the broker and agent experience
by Taylor Anderson Apr 27
Lifestyle is key to finding your niche
Aaron Seawood, Mark Choey and Dee Dee Guggenheim Howes discuss the importance of specialization to grow their businesses
by Andrea V. Brambila Apr 19
Agents, put your phones down
Frances Katzen and Brian Lewis reveal how they got deals worth tens of millions during Inman Connect New York session
by Andrea V. Brambila Apr 19
Brokerages that fail to evolve may get cut out of loop, top leaders warn
Realogy Expansion Brands CEO Sherry Chris and Compass US Region President Neda Navab said the brokerage of the future is one that prioritizes innovation and embracing change
by Jim Dalrymple II Apr 19
14 insightful tips for agents looking to save money in their business
From resisting shiny objects (so to speak) to taking advantage of local intern pools, here's how industry experts say agents can save their pennies in an ever-shifting market
by Lillian Dickerson Apr 18
Los Angeles agent Carl Gambino moving New York team to Compass
Carl Gambino, who has advised 2 of the 3 Jonas Brothers as well as Alex Rodriguez and Jennifer Lopez, is signing on with Compass in New York and leaving the Modlin Group, it was announced
by Ben Verde Apr 15
Leads, glamor, contracts: Survive the minefields of being a new agent
Newer agents sometimes come to real estate with the wrong expectations, or with little understanding of things like contracts and negotiation. Here's how the pros suggest avoiding those mistakes
by Jim Dalrymple II Apr 15
Agent to athletes trades Compass sports division for Douglas Elliman
Denver Bright, known for representing celebrity clients including a few Miami pro athletes, will return as a member of the Sports and Entertainment Division on the Senada Adzem Team
by Ben Verde Apr 12
Compass taps Mindbody CEO Josh McCarter to join board of directors
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
by Marian McPherson Apr 11
Don't sleep on the threat of real estate wire fraud
A 2021 survey showed that 1 in 3 real estate transactions were targeted by cyber criminals. Real estate agents can no longer afford to ignore the threat or meet it with a one-line warning at the bottom of their email signature
by Rich Hopen Apr 11
Compass reaches settlement in Section 8 discrimination case
As part of its settlement with the Housing Rights Initiative, Compass has committed to raising commissions for agents brokering Section 8 leases and launching several housing voucher education programs
by Marian McPherson Apr 7
As supply dwindled, nation's biggest brokerages gained market share
The biggest real estate brokerages and franchise networks made big gains in market share in 2021 and accounted for 61% of home sales, a new report reveals
by Daniel Houston Apr 7
‘New York market remains a juggernaut’ in Q1, condo sales thrive
Quarterly market reports released this week from several area brokerages revealed a luxury market in high demand, with climbing prices and little inventory
You'll never guess which 'Scrubs' actor just joined Compass
Robert Maschio, the actor who played Todd Quinlan on the ABC series, has been selling homes since 2017 with Rob Maschio Real Estate. He joined Compass in Santa Monica this week
'Stock is not the company:' Robert Reffkin on Compass 1 year after IPO
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
by Marian McPherson Apr 4
Court rejects REBNY bid to toss Compass antitrust suit
The allegations that the Real Estate Board of New York conspired with Corcoran and Douglas Elliman to 'smother' competition move forward
Compass snags 2 teams with 45 joint agents, expands into Virginia
Compass is expanding into Richmond, Virginia, with new teams that have 45 agents total and a combined 2021 sales volume of $227M
by Ben Verde Mar 30
Top Dallas Christie's team moves to Compass
The luxury, commercial and rural land sales-focused Ulterre team brought in $387M in total sales volume in 2021, 10 transactions of which were priced at $10M or greater
by Lillian Dickerson Mar 30
Compass completes its remarkable climb to become top producer
Compass completed $251.1 billion in transactions last year, more than any other brokerage firm. HomeServices of America had the most sides
by Taylor Anderson Mar 25
Venture capitalist Marc Andreessen buys another Malibu pad for $44.5M
Months after buying a separate, record-shattering home down the street for $177M, Marc Andreessen and his wife Laura Arrillaga-Andreessen have purchased a second Escondido Beach home
by Lillian Dickerson Mar 24
Compass knocks Realogy from top of T3 Sixty rankings after 23 years
Real estate analytics firm T3 Sixty's latest Real Estate Almanac revealed how complicated the answer to 'Who's the biggest brand in the industry?' can be, with Compass, Realogy and Keller Williams ruling their respective business models
by Marian McPherson Mar 23
Mauricio Umansky on The Agency’s ‘tremendous openness’
Inman spoke with The Agency's CEO about rapid expansion, working with family and some of his favorite memories from Inman Connect New York ahead of ICNY in April
by Lillian Dickerson Mar 18
Compass expands into Sacramento with new office
The tech-forward brokerage will open an operations hub in Midtown Sacramento where more than 30 agents will now be based, it was announced Monday
by Ben Verde Mar 15
Compass taps Bill Cunningham to manage sales in Hawaii
The former president of sales at Corcoran will work on agent support and furthering Compass' expansion into the island market
by Ben Verde Mar 7
Hyped as America's priciest home, ‘The One’ sells for $126M at auction
Once valued at $500M, the home in the Los Angeles neighborhood of Bel Air was auctioned off earlier this week to pay hundreds of millions in debt accrued during the decade it took to build
by Taylor Anderson Mar 4
$110M Silicon Valley estate could obliterate area price record
If the newly constructed Woodside estate sells for its list price, or anything close to that amount, the sale would decimate the current home price record for the area, which is $43.5M
by Lillian Dickerson Feb 25
America's most expensive home — The One — heads to auction Monday
The 105,000-square-foot mega-mansion is set for auction after a decade of struggles to complete and sell the property, including a failed attempt to turn the property into a crypto currency
by Taylor Anderson Feb 25
The grueling fitness craze hitting luxury real estate agents hard: 54D
The high-intensity, nine-week fitness training, nutrition and recovery program found new audiences in the pandemic, and luxury agents say it gives them the kind of discipline needed to succeed in real estate
by Lillian Dickerson Feb 25
Inman Top 5: The biggest stories of the week of Feb. 18-24, 2022
Catch up quickly on the most significant stories of the week, as determined by Inman readers. Here's this week's Inman Top 5
by Inman Feb 25
Compass nabs 2 woman-led top teams in California
The Jen Caskey Group, made up of agents formerly with eXp Realty, and the Summer Perry Group, recently affiliated with Surterre Properties, are both moving to Compass
by Lillian Dickerson Feb 24
No. 1 Side, Inc. agent in Houston jumps to Compass
Michael Afshari brought in $72 million in sales volume, closed more than 100 transactions in 2021 and was also ranked the No. 10 agent overall in Houston, according to BrokerMetrics data
by Lillian Dickerson Feb 23
She was hacked on Instagram. Now a Compass broker is speaking out
Nancy Gordon told Inman she had been trying to do several things at once when the hack happened — like many real estate professionals tend to do — which likely made her more off-guard than she might have been otherwise
by Lillian Dickerson Feb 23
'The finest in our business': Agents and friends remember Jeff Hyland
Peers, colleagues and friends in southern California shared their memories of Hilton & Hyland co-founder Jeff Hyland and described the lasting impact he had on the real estate industry
by Lillian Dickerson Feb 18
News Quiz: Do you know the biggest stories for the week of Feb. 13?
Compass, Realogy and Redfin all posted earnings reports this week. Test your knowledge of the biggest stories — and quarterly wins and losses — to see if you're up to date on the industry
by Inman Feb 18
Compass once again sees revenue, losses grow in Q4 earnings
Compass' revenue jumped 31% in the fourth quarter of 2021 and 73% for the entire year, though expenses related to the company's public debut pushed up losses
by Jim Dalrymple II Feb 16
Brooklyn Beckham lists LA mansion 8 months after purchase
The 22-year-old son of David and Victoria Beckham listed his Los Angeles mansion for a dollar short of $11 million
by Ben Verde Feb 15
75% of homebuyers acknowledge some regret over recent home buy
Three-quarters of survey participants who purchased a home in the past 2 years had some regrets about at least one aspect of their new home, according to an analysis released Tuesday by Zillow
by Ben Verde Feb 8
Compass launches 12-month 'Agent Action Plan' amid training surge
The “Robert Reffkin Agent Action Plan" is designed to help agents build their business the way the Compass founder built his
by Jim Dalrymple II Feb 7
Check your ego: NYC agent tips on winning co-op board approval
Inman spoke with seasoned New York City agents to get their takes on making the board approval process an easy one
by Ben Verde Feb 4
19 agents share how tooting their own horns is bringing in business
Client testimonials don't just feel good, they're a powerful way to build authority online
by Christy Murdock Feb 4
Beverly Hills Estates snags high-performing Compass agent
Shauna Walters, who has $8 billion in career sales, according to her social media accounts, joins a number of agents who have recently made the move to The Beverly Hills Estates
Why I didn’t sell my home
A week ago, Brad Inman called his Realtor with good news: With only a DocuSign signature standing in the way of an imminent sale, he was abruptly taking his LA home off the market
by Brad Inman Feb 2
A reptile dysfunction: Agents dodge falling iguanas on the job in Florida
Fallout from unsually cold temperatures in the state last weekend comes with its own challenges, real estate agents in Florida told Inman
Getting started as a real estate agent: 102 tips from top Realtors
Inman reached out to more than a hundred of the country's top-performing Realtors and asked them what they would say to a real estate agent just starting out in 2023. These are their answers
Offerpad stock reaches lowest level ever on Wall Street before rebound
It’s not the only publicly traded real estate brand to face headwinds in the market in January, but it is leading the pack
by Taylor Anderson Jan 28
The Khrista Jarvis Team on 'leading the way'
Earlier this month, the team announced its move to Coldwell Banker from Compass. Here, team leader Khrista Jarvis talks about the secrets to her team's success and why they made the move
by Lillian Dickerson Jan 26