It was an audacious goal from the start.
Five years after Compass hired its first 10 agents in New York City, CEO Robert Reffkin pledged the company would have 20 percent market share in 20 major U.S. cities by 2020.
“That means we’re going to expand,” he told agents who gathered in New York for an all-team meeting in 2017. “We’re going to expand to Seattle, San Diego, Phoenix, Dallas, Austin, Houston, Atlanta, Philadelphia and Chicago.”
Having raised $1.5 billion from investors, Compass ended 2019 with 15,500 agents across 325 offices. It now has a presence in California, Seattle, Chicago, Colorado, Texas, Nashville, Atlanta, Florida, Washington D.C., Boston and the New York metropolitan region.
But a closer look at Compass’ track record across the country reveals uneven growth, even as the SoftBank-backed firm — now valued at $6.4 billion — has ascended the ranks nationally.