**Title: Compass: America’s Top Residential Brokerage – Quarterly Earnings, Losses, and Innovation**
**Description:**
Welcome to The Real Deal’s exclusive interview with Rory Golod, President of Growth at Compass, America’s largest residential brokerage by deal volume. In this interview, TRD’s SVP of Content, Hiten Samtani, sits down with Rory to discuss Compass’ quarterly earnings, recent layoffs and office closures, the firm’s use of AI technology, facing investors after surpassing $1 billion in losses, creating value for agents, and more.
Watch the video for deep insights into Compass’ financial status, growth strategies, and the challenges they face in today’s real estate market.
Read more about Compass’ 2-year losses exceeding $1 billion [here](https://therealdeal.com/national/2023/03/06/watch-compass-2-year-losses-exceed-1b/). Learn about the implications of Compass’ contracts on its agents [here](https://therealdeal.com/magazine/national-february-2021/when-compass-comes-clawing/).
**Keywords/Tags:**
* real estate
* news
* business
* investing
* Compass
* Robert Reffkin
* Compass quarterly earnings
* residential brokerage
* artificial intelligence
* AI
**Transcript Excerpts:**
Rory: “Last year, we embarked on a pretty aggressive cost reduction plan, aiming for free cash flow positivity by Q2 of this year. We’ve brought our losses down significantly, and we reaffirmed our commitment to be free cash flow positive for the year.”
Hiten: “It’s notable that Compass, despite its losses, has managed to grow rapidly and become the number one brokerage in the U.S. With the investments from our initial funding rounds, we focused on expansion, building technology, and attracting the best agents. Now, we can shift our focus to generating free cash flow and being profitable.”
Rory: “Our investment in technology remains robust. We spend over $100 million annually on research and development, far more than any other brokerage in the market. Our commitment to innovation and providing value to our agents remains strong.”
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Compass: The top residential brokerage in America by deal volume. But also, a loss-making behemoth. How long can the firm sustain such heavy losses, and how does it keep innovating in such an environment?
TRD’s SVP of Content Hiten Samtani sat down with Compass’ President of Growth Rory Golod to discuss Compass’ quarterly earnings, layoffs and office closures, how the firm is leveraging AI technology, facing investors after over $1 billion in losses, creating value for agents, and more.
#TheRealDeal #RealEstate #RealEstateFinance #residentialrealestate #Compass
READ MORE:
Compass’ 2-year losses exceed $1B
https://therealdeal.com/national/2023/03/06/watch-compass-2-year-losses-exceed-1b/.
When Compass comes clawing: How the firm’s contracts lock agents in https://therealdeal.com/magazine/national-february-2021/when-compass-comes-clawing/
WATCH MORE:
SIGNATURE BANK COLLAPSE BAD NEWS FOR RENT-STABILIZED PROPERTIES, MARCH MADNESS ARRIVES EARLY FOR RE: https://www.youtube.com/watch?v=KDehOFaqV4Y
FINANCIAL FIGHT ESCALATES OVER LEO PUSTILNIKOV’S REDONDO BEACH SITE:
SPECIAL REPORT: Signature Bank Meltdown | TRD Explains: https://www.youtube.com/watch?v=EAtoInsf80A
COFFEE TALK: Better.com’s Vishal Garg on the Online Mortgage Business, Growth, Layoffs & Homeownership: https://www.youtube.com/watch?v=P7csALp4ZMk
.
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Attorney General James Stops Real Estate Company Compass from Denying Housing to Low-Income New Yorkers November 1, 2022 Compass Agents told Tenants with Housing Vouchers They Could Not Apply for Apartment Listings
AG James’ Second Action this Week to Protect New Yorkers from Housing Discrimination
Scam?
Rory did a great job. The interviewer certainly came at him with a negative view of Compass. I can tell you that the Compass platform is incredible.
Great job and representation Rory! Proud to be apart of this company and super excited to watch us continue to succeed! 👊🏻🚀
Great talking points for our listing presentations, when we're asked the tough questions. I've recently returned to Compass, and I'm so glad to be back. The human support and tech platform are top notch.
Great interview w tough questions. All well answered.
Clear, concise answers thank you Rory.
Amazing and spot on conversation. Using the Compass technology every single day!! Couldn't imagine a day when I would walk away from this!
Great interview. Rory, Robert, and the rest of the executive team at Compass are well respected among agents and staff.
I'm a new agent and the support I've received at Compass is spot on. I use the tech every single day for every aspect of my job!
Great interview!
The trouble is COMPASS stock collapsed 90% from the $20/share IPO down to $1.84/share.
We know since 10% of our commission was in COMP stock & we bought pre-IPO COMP.
It will take 1,000% or 10x just to break even on COMP stock IPO…
Go Rory!! Tough interview but you rocked it. As a seasoned agent of 22 years I am so proud to represent Compass!
Wow! This interview should be on repeat. Great interviewer, asked straight and tough questions (interrupted a little more for my taste–let him finish a response haha!) Appreciated the straight talk and the opportunity to put out FACTS.
Great job, Rory!
Nailed it @mightyror
Crushed it Rory!
Great interview, tough questions but honest, clear, and factual answers.
Our team uses the platform every day!
Great interview. As a successful Compass agent, I can 100% vouch for the technology platform and tools available.
Great interview! Rory sharing what's the real deal at Compass!
Having an end-to-end platform w a mobile app that agents can run their entire business from one source; priceless. #onwardsandupwards Compass! Great interview @RoryGolod
Great interview! Thank you for sharing L.S. Rory, you are a tough-ass interviewee. I think Ironclad with intelligently thought-out responses. #unshakeable
Fabulous interview! The infrastructure investment is a real one. We've built our collaborative team systems and client experience around Compass tech, and we win competitive business backed by our Compass programs.
Incredible interview Rory is a rockstar‼️
Great interview and information!
The technology works. Cauhhl me.
All
Agreed with previous comments – just getting started 🎉
You can call me! Obsessed about our technology
Legend
Not existing 10 years ago to being #1, Fortune 500 company, with the first and only end to end platform for our clients, the agents themselves – we're just getting started!
I love this interview: tough questions answered clearly, concisely, factually with substance.