[vc_row][vc_column width=”1/1″][vc_raw_html]JTNDcCUzRWh0dHBzJTNBJTJGJTJGeW91dHUuYmUlMkZpWjZzY0FHcE40QSUzQyUyRnAlM0U=[/vc_raw_html][/vc_column][/vc_row][vc_row][vc_column][vc_column_text uncode_shortcode_id=”213550″]Motley Fool’s ‘deep dive’ into Compass tells you more about why you should want to work with a Compass agent than anyone else.
“They use tech, they don’t try to compete against traditional brokerages. They try to leverage technology to make that model better. Their mission is to empower agents to really do their jobs as best as they can. They have a pretty big reach. I will tell you the statistic that surprised me the most about Compass. They have over a 6% market share of the entire U.S. real estate market. It is still sold through Compass agencies. To put that in perspective, Redfin is 1%. The entire iBuying industry combined, which I’m sure we will mention a couple of times on the show, is 1%. They’re a big, big player for it to be an under-the-radar company and I wonder if they’re under the radar everywhere or just for me because they’re not in my market yet. They’re disrupting the old technology I guess you would call it.”
The article details the risks and downsides of iBuying, notes key differences between Compass and other brokerages, and why adding value to what agents offer is fueling massive Compass growth in the U.S.
[Frankel] “My first thought was that as just another brokerage business, things like when we started looking into it. Remember, we’re comparing the second quarter of 2020 here, which was terrible. They did over 65,000 transactions in the second quarter alone. That’s a 140% year-over-year growth. Yes, the whole industry grew really big compared to the second quarter of 2022 because it was bad. Compass grew at four times the rate of the industry average. That’s pretty impressive growth. Gross transaction volume nearly tripled year-over-year in the second quarter, a 186% growth. You can’t argue with those numbers. Their product is their agents. With iBuying, the product is like your home. But with Compass the product really is their agent. They want to make their agents add value to the transaction.”
Want to add more value to your DC or National Landing real estate transaction? Call us.[/vc_column_text][/vc_column][/vc_row]