Compass:
A New Direction
in DC Real Estate
District Home Magazine chatted with
Robert Reffkin, founder and CEO of
Compass, and Lindsay Reishman, president
of Compass Washington, DC, to learn
about the tech-focused brokerage, which
recently expanded to the DC market. The
brokerage has plans to expand nationally to
10 cities in the next two years with Miami as
the next market.
Compass entered the DC market in 2014
through the acquisition of Lindsay Reishman
Real Estate (LRRE). LRRE was an ideal
partner for Compass because of the type
of market found here in DC, the volume
of the firm’s transactions, and the leadership
provided by Lindsay Reishman.
Robert Reffkin explained, “Compass can
only expand with great leaders, and when
I asked agents in the DC area who they
respected most, the response was Lindsay.”
The acquisition has been rewarding for all
involved. Compass, recently valued at $360
million, has already benefited by having
knowledgeable agents in place to attract
others with similar values. As a result,
the DC team has nearly tripled since
the acquisition.
Since its inception, Compass has raised
more than $70M from investors including
Founders Fund, Goldman Sachs, and
Kenneth Chenault, Chairman and CEO of
American Express. Compass offers a broad
range of services to agents, priding itself
on its data-driven valuation and pricing
tools. Compass employs 21 engineers,
recruited from companies including Google,
Twitter, and Facebook, and the firm builds
and manages technology in-house. The
brokerage wants to provide agents with a
tremendous experience and the support
they need to grow their businesses.
And, although Compass is known for its
advanced technology, the culture of the
brokerage is what really sets it apart. As
Robert Reffkin told DHM, “Compass doesn’t
hire with a mind on revenue but more on
culture. We want the best company five
years from now, not one month from now.”
Robert elaborated, “Technology is
something agents see value in, but vision,
people, and leadership is what attracts
people.”
Both Robert and Lindsay expressed that
the team aspect is key for Compass and
is what makes Compass different from
other agencies. In support of its agents,
the management is creating a collaborative
environment in which a creative studio
crafts targeted marketing solutions and a
dedicated development team builds intuitive
digital products for clients and agents. But,
of course, the ultimate goal is to provide the
best client experience possible.
Compass will open a second office in DC in
March, located in Capitol Hill, and is looking
for additional opportunities.
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