The Ledger
Every statement that passed quotation and attribution checks. Mix any filter with any other: certainty 1/5, debate potential 5/5, or both at once.
why aren't all 10 resolved? a statement only gets an assessment when the public record can support or contradict it. opinions and what-ifs never can, and 0 checkable ones are still open, waiting for their date. predictions held up or didn't; assertions are supported or contradicted. on every card: ▮▮▮▮▮ certainty · ▮▮▮▮▮ debate potential. speakers are clickable
Reffkin: Compass senior team secretly asked co-founder Ori Allon to fire me
“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.”
Reffkin: A real estate brokerage's customer is the agent, not the homebuyer
“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…”
Reffkin: Average agent grows business 19% in first year at Compass
“The average agent that comes to Compass has grown their business 19% in their first year.”
Reffkin: In 2018, rival brokerage heads claimed Compass would fail within five years
“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…”
Reffkin: Real estate demand for larger homes has permanently shifted
“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.”
Grant: Framing policies as testable hypotheses prevents mutiny during business pivots
“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 …”
Reffkin: Compass placed ads directly outside competitors' offices to recruit agents
“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…”
Reffkin: Veteran agents outperform hospitality recruits in real estate
“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…”