Compass

[Joe Flacco]

Compass grows to 160 agents in DC since launching last year. Many are big time agents too. Out of no where there are Compass signs everywhere. Word on the street is that they are offering equity to attract top agents.

 

[Wayne Henry]

Compass grows to 160 agents in DC since launching last year. Many are big time agents too. Out of no where there are Compass signs everywhere. Word on the street is that they are offering equity to attract top agents.

Are you referring to Encompass appraisal software platform?

 

[Tony V]

Compass also started up recently on the East End of Long Island. It seems that they have brought in some well known realtors and are making an impact on the market. At one point we had many small local brokers whom were bought out by Prudential Elliman, Corcoran and and several others. Many locals do not like the "corporate" feel of these groups but at the same time the bigger brokers have a much larger advertising budget and more extensive market out reach which transcended to a the ability to bring in possible buyers from a broader range. My guess is that Compass is trying to downgrade the corporate feel and at the same time operate like the big dogs.