Compass

Overview
Activities
News
Residential PropTech?
Product stageSegments
Growth
?
Buying and Selling Tools for Agents, Transaction closing tools, Online marketplaces
?

Compass operates a real estate technology platform for real estate agents that offers a variety of services such as virtual workspaces for agents and buyers to collaborate, dashboards for insights on lead generation and marketing strategies, and AI-driven CRM tools. The company operates under a commission-based business model based on the number of houses sold.

Compass acquired transaction management company Glide in April 2021. Glide helps real estate agents and their clients complete official seller disclosure forms electronically (these forms are used to disclose information about the conditions of the property), such as Transfer Disclosure Statement (TDS), Seller Property Questionnaire (SPQ), and Agent Visual Inspection Disclosure (AVID) in the state of California.  The company also offers transaction management tools and eSignatures. Glide is currently used in more than half of residential real estate transactions in California. The platform is also offered to more than 60 associations of REALTOR and MLS organizations. Compass also announced in May 2022 to acquire Consumer's Title Company of California (Consumer’s Title), a title and escrow services provider for an undisclosed sum. Through this acquisition, Compass will leverage the license of Consumer’s Title to operate in 58 counties within California to broaden its settlement service offerings and increase its operational presence within the region.

As of February 2024, the company operated in 72 markets. 

For FY2023, Compass had reported a 19% YoY decline in total revenue to USD 4.9 billion, from USD 6.0 billion recorded in FY2022. The company also reported a 47% YoY reduction in net loss to USD 321.3 million for FY2023, from USD 601.5 million recorded in FY2022.

Key customers and partnerships

As of December 2023, the company had over 29,388 agents. 

In January 2024, Compass partnered with Paramount Realty to offer auction services to its agents and their clients on a national scale.

HQ location:
90 Fifth Avenue 3rd Floor New York NY USA
Founded year:
2012
Employees:
10,000
IPO status:
Public
Total funding:
USD 1.5 bn
Last Funding:
USD 370.0 mn (Series G; Jul 2019)
Last valuation:
USD 6.4 bn (Jul 2019)
Key competitors
 
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