In less than 4 years, Compass has become the dominant residential-resale brokerage in San Diego County, and it’s not close. Even if you added the two CBs together, their market share is less than half of ours.
It’s been the aggressive recruiting of top agents that built the sales force, and the vast majority of those agents came from the other brokerages on this list. It tends to be a zero-sum game too – as we get bigger and better, the others are going to struggle to keep up.
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Congratulations. Here in north north San Diego County [Ventura county] we are seeing ever more Compass affiliated shops. You got the mojo. When’s the IPO?
The IPO was on April 1st, and the initial price was dropped at the last minute to $18.
Here’s where we are now: https://finance.yahoo.com/quote/COMP?p=COMP&.tsrc=fin-srch
The recruiting dominance is not being priced in. If we had a sudden need to balance the books, we could fire the 300 engineers on staff that don’t appear to be doing anything.
Sorry for the tease. Yeah, I knew about the IPO and soft performance since. Brand building is an upfront expensive undertaking. Things like your SD market share are those metrics that ultimately show up as value.
Dollar cost average…. Good time to buy.
Feel like your are with the right firm? Hell yes I bet you do looking at that market share. Wow. Pure Dominance. Ride this Compass wave to shore.
The benefits from total dominance have yet to be realized too.
The practice of agents sharing listings, and commissions, with other agents is doomed.
It’s being viciously attacked by several entities coming from different angles – ibuyers, realtor teams, DOJ – and in the end, buyer-agents as we’ve known them are cooked.
When that happens, realtors need to be on the right team. The team that has the majority of the listings, and is dominant enough that we don’t need outside agents any more.
I’m not sure that Compass mgmt recognizes this yet, and I don’t think it was a conscious choice by them from the beginning. But it was by me.
The remaining real estate evolution will be the shift to auctions, and single agency.
https://www.bubbleinfo.com/2019/06/20/the-decline-of-mls-civilization/