Compass

“One morning, Ori Was invited to a breakfast by one of the senior members of the team. He goes to breakfast, and everyone is there on the senior team except me. And they basically tell him that they want to fire me.”

“You can't work for everyone. And who's your customer? Your customer is the person that pays you. And buyers and sellers don't pay brokerage firms. They pay agents. And agents are the ones that pay brokerage firms. They split a percentage of what they make with…”

“The average agent that comes to Compass has grown their business 19% in their first year.”

“We would market the Compass brand outside of the offices of our competing firms, and so there's like a phone booth or a billboard or a bus stop, outside of our competing firms, that's where we would put the brands so that agents at other companies would say, o…”

“Over a third of the team left.”

“The people that are best at doing that, I could see were agents who had been doing it for 10 years, not people that we hired, you know, from restaurants or hotels that were really, really nice, and trying to train them to, like, meet someone on a corner and sh…”

“Leonard was the number one agent in New York the prior year, having sold or put in contract, five hundred million dollars in listings.”

“At a big real estate conference, one of the top, you know, brokerage firms says, oh, you know, this was like in 2018 I think compass is going to go out of business in five years. And then the head of the fourth largest broker from the country says, oh, I think…”

“On the real estate side, I think that we have a permanent shift in the demand curve, where people will continue to want more space and more multiple home ownership.”

“That's a hypothesis. It's a hypothesis. It might be true. It might be false. Let's go and test it. And if it turns out that I'm wrong, I would love your feedback on other ways that we can value agents in a way that the industry just hasn't before. Before. And …”