Is Compass Real Estate a Company that’s in Trouble?

There’s a fine art to choosing the right Real Estate Brokerage firm. And while there are many variables to consider, looking into the past and researching any previous problems with a potential company is expected in any industry, let alone one as vital as real estate. 

After all, the sooner you’re secure in the knowledge that you’ve left your needs in the hands of a trustworthy and capable business, the sooner you can focus on achieving your objectives without having to worry about the people around you. 

When it comes to searching for innovative solutions to your real estate needs, Compass Realty has been a welcome change for people who need to buy or sell a home but find themselves frustrated by the lack of transparency in the industry itself. But like any fast-moving and innovative company, the business has had its fair share of obstacles to overcome over the last few years. 

It’s a sorry state of affairs when businesses try to remove themselves from these past problems. After all, overcoming obstacles and staying on a successful trajectory is what most people are looking for in a real estate company! 

For this reason, it’s refreshing to see the company refuse to shy away from its past and embrace complete transparency. And with their previous hurdles, which you can learn more about via this article, now fully resolved, the future for Compass and its clients has never been brighter! 

Overcoming legal difficulties

Any realtor who has remained in business for a long time is going to encounter some hardships now and then. A legal issue between Compass and competitor firm Zillow reared its head in 2019 after Zillow claimed Compass had attempted to poach employees who were under non-compete clauses, in addition to stealing trade secrets. 

Despite this problematic issue, which Compass has firmly denied, the company continued to push ahead and provide innovative real estate solutions to people across the country. The legal claims were settled amicably, and a settlement was reached, with Compass never missing a beat and carrying on with their innovative approach to helping clients. 

Staying afloat during the global pandemic 

The resolve of this realtor was once again tested in 2020 when the global COVID pandemic led to unforeseen challenges for businesses across the world. With unexpected losses of $270 million and no clear end in sight for the pandemic, Compass CEO Robert Reffkin laid off 375 employees. 

These unfortunate layoffs were becoming commonplace for many businesses in 2020. But despite this sobering reminder of how much COVID has affected us all, Compass continues to reach new heights and maintain the best service possible for its clients. 

The Compass philosophy 

Considering Compass has been in business for over ten years now, it’s natural to find a few stumbles along the way to achieving its unique combination of innovative technologies and a people-focused approach to real estate.

As a business, their philosophy hasn’t changed over the course of these obstacles. And it’s in that client and realtor relationship that you’ll find the reason why Compass continues to endure through these unforeseen problems over the years, and how they’ve managed to resolve them so quickly.