compass company overview q2 2017
TRANSCRIPT
COMPASS COMPANY OVERVIEW | 2017 PG. 2
The Opportunity What’s broken for buyers
What’s broken for sellers
What’s broken for agents
The real estate industry is a $217 trillion global asset class. And yet, the industry has been largely untouched by technology. Today, most real estate decisions are made via gut instinct and outdated information. We think that people deserve better.
After selecting properties of interest, there are no tools to support every other step in the home buying process
In-contract pricing information is not available and most data is 90+ days old, making it difficult to develop an informed offer
Agent-client communication is dispersed across saved searches, emails, texts and phone calls, which can overwhelm the buyer
Low levels of confidence that agents have the clients’ best interests in mind rather than their own
Insufficient data tools to inform pricing decisions or set expectations on days on market
Advances in targeted digital marketing have not reached real estate; indiscriminate mass marketing approaches are still all too common
9 out of 10 sellers use an agent, but 70% of people don’t trust their agent
Insufficient knowledge bases and data transparency to learn about the market and competitive properties
Brokerages have not built technology for their agents
There are 250+ third-party software tools for agents that don’t work together
Very few tools are mobile-friendly
Too much time spent on low-value tasks and busywork prevents agents from growing their business
Traditional brokerages not built on a culture of excellence; agents not proud or inspired by their peers
Agents generally treated as salespeople instead of CEOs of their own businesses
COMPASS COMPANY OVERVIEW | 2017 PG. 3
Our Mission At Compass, our mission is to help everyone find their place in the world The decision to buy, sell or rent a home is too important to get wrong. We all know the feeling of stepping into a place where you feel a strong sense of belonging. We believe everyone should have that experience in their daily life.
We are building the operating system for real estate
An end-to-end platform built to support the home buying, selling or renting process, based on an agent’s workflow. By elevating the most personal parts of the process and using technology to simplify the rest, Compass delivers an incomparable experience to each client in service of our mission.
COMPASS COMPANY OVERVIEW | 2017 PG. 4
Not Just a Better Brokerage
Are we a brokerage or are we a technology company? We’re both.
At Compass, we have 1600 of the country’s top real estate agents who work with clients to help them buy, sell and rent homes. In this way, we are a brokerage.
We have our own proprietary technology. A full suite of tools for agents and clients alike. This technology helps agents grow their business faster, makes their lives simpler, and creates better outcomes for their clients. In this way, we are a technology company.
COMPASS COMPANY OVERVIEW | 2017 PG. 5
Our TechnologyThe Compass technology suite empowers agents to become trusted advisors to their clients, build their network and grow their business.
We provide value through technology and data to our agents so they can help their clients make smart real estate decisions.
Insights Efficiency Relationship Building
Advanced Search Agent Mobile App Listing Strategy Markets App Network Performance Metrics Valuation
Deal Closer Documents Listing Presentation Showsheets Toursheets
Collections Open House App Client Portal
COMPASS COMPANY OVERVIEW | 2017 PG. 6
Our CompetitiveAdvantage
Generate more buy-side leads
Marketing Support
Consumer Search
Mobile Consumer App / Markets App
Agent Performance Tool
Open House App
Collections
Win more exclusive pitches
Valuation Tool
Listing Exposure Tool
Listing Strategy Tool
Listing Presentation Tool
Spend more time serving clients
Mobile Agent App
CRM Technology
Showsheets Tool
Toursheets Tool
Agent Search
Deal Closer Tool
Traditional brokerage
COMPASS COMPANY OVERVIEW | 2017 PG. 7
Our Nationwide Network
1600+
30
10
Agents in
offices across
major regions
San FranciscoSanta Barbara & MontecitoLos AngelesOrange CountyAspen
West
BostonNew York CityThe HamptonsWashington DCMiami
East
COMPASS COMPANY OVERVIEW | 2017 PG. 8
2012October 2012Ori Allon and Robert Reffkin found Compass
November 2012Establishes first HQ in SoHo; Closes $8M seed round
2013May 2013Publicly launches as Urban Compass in NYC with Mayor Bloomberg
August 2013Launches consumer mobile app
September 2013Closes $25M Series A round of financing
2014 June 2014Leonard Steinberg joins as President
July 2014Closes $42M Series B round of financing
November 2014Launches 2nd market: Washington D.C.
December 2014Opens new HQ at 90 Fifth Avenue
2015January 2015Reaches 500 agents
February 2015Rebrands from Urban Compass to Compass
July 2015 Launches Property Valuation tool
August 2015Launches 3rd market: Miami
September 2015Closes $60M Series C; Launches 4th market: Boston
October 2015Launches 5th market :The Hamptons, Releases Markets App
November 2015Launches 6th market: Los Angeles
2016February 2016Launches 7th market: Santa Barbara
April 2016Launches 8th market: Aspen
May 2016Releases Open House App
August 2016Closes $90M Series D with a reported valuation over $1 billion
September 2016Launches 9th market: San Francisco; Reached 1,000 agents
November 2016Releases Collections
2017January 2017Maelle Gavet joins as Compass COO
February 2017Launches 10th market: Orange County
May 2017Releases new Agent Mobile App
June 2017Reaches 1,600 agents
Momentum
COMPASS COMPANY OVERVIEW | 2017 PG. 9
Drive Toward Market Leadership
#1
$18O
#1
98%
Compass is ranked as #1 overall brokerage in
Washington D.C.
Compass nearly tripled its 2016 revenue year-over-
year to more than
Compass is ranked as the #1 listing brokerage in single-family home sales in San Francisco
Our technology and agent support has led Compass
to achieve industry-leading retention of
Compass is a top 5 brokerage by market share in New York, San Francisco,
LA, Miami, D.C. & Boston
5TOP
M
COMPASS COMPANY OVERVIEW | 2017 PG. 10
Our Investors
Rudin Management Company
Ken Chenault—CEO of AMEX
Marc Benioff—CEO of Salesforce
Compass has raised $225 million in financing from the same investors who have backed world-class technology companies such as Facebook, Instagram, Twitter, Airbnb, Uber and Lyft.
Venture Capital
Real Estate Developers Strategic Investors
COMPASS COMPANY OVERVIEW | 2017 PG. 11
A Team of Experienced InnovatorsOri Allon, PhDFounder & Executive Chairman—Former Director of Engineering at Twitter. Founder and CEO of Julpan,a social search engine sold to Twitter. Developer of Orion search engine, bought by Google.
David SniderChief Financial Officer—Prior positions at Bain Capital Real Estate and Bain & Co. Author of Money Makers, published by Macmillan. MBA from Harvard Business School.
Julie BinderHead of Communications—Advised CEOs and led communications teams within Fortune 500 companies, a high-growth start-up, and a global PR agency. Spent three years of her career working abroad in Europe and Asia.
Robert Reffkin Founder & CEO—Former Chief of Staff to the COO of Goldman Sachs. Former White House Fellow and special assistant to the Secretary of the Treasury. Prior positions at Lazard and McKinsey & Company.
Liming Zhao, PhDChief Technology Officer—Developed software for the specialized super-computer Anton and built tools for high-performance computing. PhD in computer science from the University of Pennsylvania.
David CarpDeputy COO & General Counsel—Prior positions as General Counsel and Co-CEO of the Würth Group. Served as the Chief Operating Officer of Würth’s U.S. real estate corporation.
Maelle Gavet Chief Operating Officer—Former COO of $72B global travel tech company, The Priceline Group. CEO of Russia’s largest e-commerce company. Named to Fortune’s “40 under 40” and Fast Company’s “Most Creative People in Business”.
Rob LehmanChief Revenue Officer—Prior positions at McKinsey & Company, focused on devising growth strategies in legacy industries through technology and data innovations.
Matt SpanglerHead of Marketing & Design—Built the creative group at Tribeca Enterprises, oversee-ing the creation of responsive sites, new ticketing platforms, documentary films, a TV series, YouTube channels, Film Festival campaigns and digital product development.
Leonard SteinbergPresident—Sold more than $3B in transactions. Leads one of the country’s top 10 brokerage teams. Editor of “Luxury Letter,” cited by The New York Times, The Wall Street Journal, and CNN.
Christina Allen Product Strategy Advisor—Led a product team at LinkedIn for over four years. Instrumental in building data-rich tools like those for the LinkedIn University program.
Ciara LakhaniHead of People & Culture—Served as the Human Re-sources Business Partner at GE’s Corporate Headquar-ters, In covering a diverse mix of teams in GE Capital and the Corporate Audit Staff. Received her MBA from the Wharton School at the Uni-versity of Pennsylvania and a B.S. in Psychology from SUNY Geneseo.
COMPASS COMPANY OVERVIEW | 2017 PG. 12
Press Contact:Julie BinderHead of Communications [email protected] [email protected]
compass.com