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Compass continues to act like a traditional brokerage

Valuation is highly laughed at within the industry

Compass CEO Rob Reffkin (Credit: Compass)

Compass has agreed to lease an additional 32,000 SF at 10 East 53rd Street. With over 850 agents, Compass now leases around 180,000 SF of office space in NYC, according to CO.

Invest in technology: Compass must invest in differentiated technology to justify its $2.2 billion valuation. Success will be defined by using key technology to disrupt an antiquated industry.

Take the next step: With unlimited resources, Compass has poached many brokers from competitors to accelerate growth. However, SoftBank wants its $450 million investment to go towards technology. Simply incentivizing brokers to join by offering nice signing bonuses and higher commissions splits won’t cut it.

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