[VIP] 3Q22, Compass: Unique Value Proposition?

This will be, I think, relatively brief. Compass reported its Q3/2022 numbers and… well, it’s not good. That was expected since every real estate company had a bad quarter thanks to macro conditions. But it’s the future course of Compass that should concern us.

To make a long story short, it seems to me that Compass is jettisoning everything that gave Compass a unique value proposition among brokerages. It may be that Compass was one of those boats that rose on a rising tide of cheap money. Now that the tide is going out, Compass might be the poster child for a real estate company that was swimming naked.

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-rsh

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Rob Hahn

Rob Hahn

Managing Partner of 7DS Associates, and the grand poobah of this here blog. Once called "a revolutionary in a really nice suit", people often wonder what I do for a living because I have the temerity to not talk about my clients and my work for clients. Suffice to say that I do strategy work for some of the largest organizations and companies in real estate, as well as some of the smallest startups and agent teams, but usually only on projects that interest me with big implications for reforming this wonderful, crazy, lovable yet frustrating real estate industry of ours.

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