Compass is a real estate broker that has gained a huge amount of attention over the past few years. This is mainly due to its speedy growth and innovative real estate technology. Compass created an end-to-end online real estate tool that helps agents, buyers, and sellers to find what they’re looking for from the very start of their journey. Here we are going to take a look at some of the history of Compass and what the future might hold for them.
The Facts and Figures
First things first, to highlight how quickly Compass has found success since its inception, let’s take a look at some of the impressive stats and information associated with the brand:
- Compass was founded in 2012, so the business is only 10 years old
- The business went public on April 1st, 2021 with a valuation of $8.22 billion
- They currently have over 25,000 real estate agents across the country
- The business has raised $1.5 billion in investments, these investors include Founders Fund
- Compass has been awarded a number of accolades over the years, including a Webby Award for Best Real Estate Website. Compass was also named as Fast Company’s Best Workplaces for Innovators in 2019.
- They have over 300 offices, with headquarters in New York, Seattle, Washington DC, and India
How Did Compass Come to Find Its Success?
As you can clearly see from the previous points, Compass has grown at an incredibly fast rate. The reason behind this? As we mentioned, the intelligent real estate technology Compass brought to the market has massively impacted the industry – for the right reasons.
Since they brought out their app that streamlines the buying and selling process for all involved, competitors have created their own versions of this modernized technology. Compass’ technology utilizes real-time real estate information, an automated CRM (Customer Relationship Management) system, along with a highly visual online interface that allows clients and agents to efficiently collaborate. This is what draws customers and employees to the company.
Along with this, their business practices have stood them in good stead – they have strong, recognizable branding, they celebrate their employees, and provide a good service to their clients.
What Could the Future Hold for Compass?
If the past decade is anything to go by, the future is bright for Compass. However, can they continue to grow at the same speed as they have been? There is a good chance that in years to come Compass will expand more across the globe, as they already have one of their headquarter offices in India. Their real estate technology is what propelled their success in the first place, so it will be interesting to see if they can keep on honing their tools, and leading the way in the real estate world.
To conclude, judging from how well Compass has done in the past, and with property prices ever-increasing, you imagine they will continue to ride the wave of success. We are intrigued to find out what the next 10 years hold for this real estate giant.
