Urban Compass shifts to more traditional brokerage model

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Urban Compass, a Manhattan-based startup that paid agents salaries and bonuses based on customer satisfaction, is moving to a more traditional brokerage model as it recruits experienced brokers, The Real Deal reports.

The company, which drew on experience gained as a New York City rental search site to expand into home sales in October, has recruited 12 new agents, including Citi Habitats veterans Steve Halpern and Udi Eliasi, and has attracted talent from Brown Harris Stevens, Town Residential, The Corcoran Group, Halstead Property, and Nest Seekers International.

Although agents can remain salaried if they choose, about half of Urban Compass agents are now independent contractors working on commission, The Real Deal said. Source: therealdeal.com