offer from Compass
I am an agent considering moving my team to compass. Compass people, do you expect the company to successfully IPO? I am told they have gotten another extension on capital lockup until 2024. Accurate? #sales
Yes on the IPO. Covid helps more than it hurts.
Agree that this is an opportunity for them to showcase the efficiencies of their platform on a level that other firms simply cannot
Lol so who’s telling the truth
Not clear. Even among my friends in tech and PE, I have gotten a number of different opinions
IPO next year confirmed timing is so right
I’m an agent at Compass. Very curious what you’ve heard in terms of the timing of the IPO next year. I’ve heard next year and I’ve also heard 2022.
I don’t think they have filed for the IPO, yet. That would need to happen pretty soon. I had heard that they got another extension on their capital lockup until 2024. But given what’s going on now, I would think the investors would want to take their money off the table and buy distressed assets.
Compass is a House of cards. Elliman’s confit in NYC is better technology.
While compass is not on track for its original plan, the “house of cards” narrative has blinded the legacy companies as to the company’s competitive advantages. Honestly, never mind the tech part — the fact that they are operated by business people, and by people who are tech forward makes a big difference. The brokerage industry has historically promoted unsuccessful agents into management roles, so the whole industry — even the publicly traded companies — is filled w these people who have no real business experience. Not trying to sell compass or bash the other companies, but am simply observing that the story of compass’ imminent failure has been circulating for years now, and compass continues to get stronger. The legacy companies are struggling. It’s possible Compass could collapse, but I would be genuinely surprised by that at this point. They have made strategic mistakes, but net net, they still have one of the smartest teams in the space.
It’s a very low bar to overcome and be “smart” in this space. Compass has ripped through and wasted all their funding. Everyone knows it - it’s a house of cards just like Rent the Runway.
For agents : might be a good option. Tech: Nope.
Not sure but you can always check the SEC to see if they’ve filed and they have to do that 6mo in advance. I wouldn’t bank on the equity as an agent if it were me. Not sure which region you’re located in but I’d consider that as it has a huge impact on the service level and the culture. I do think Compass has a few offerings that set it apart from the other brokerages but it’s definitely a brokerage not a tech company.
Thank you. Agree. Compass is more organized, more focused, more consistent in their execution. They also seem to have created a culture that does not indulge the common practices at legacy firms such as kickbacks, and favoritism — which can elevate less competent people. Not interested in equity, just the stability of the platform.
Looks like you have decided to join anyway. For agents compass is good, engineering is not good.
Agents should take the offer if compass is fronting the cash. Furthermore if you’re a good agent your former brokerage will take you back. Agents have all the leverage. Compass will IPO. But if you only have like 1000-10,000 shares just price any other recent IPO to get perspective on payout. If it was me I’d assume $15-30 a share after 6mo lockup.
Look at eXp world holding for those people think Compass is valued nothing after IPO. eXp is a public company and valued at 2.8B with 1/3 of our revenue and half of our margin.
No on the IPO. Why? Employees who can leave are doing so, and in the process are trying to get rid of their stock to 3rd parties - no 3rd party is interested. That said, for an agent, Compass is still a better broker - just would negotiate better split over stock.
Thank you for your insights