Compass, a tech- based real estate brokerage firm, had opened its newest and fifth US office in Boston in addition to their Miami, Brooklyn, Washington DC and Manhattan offices.
According to rew-online.com [Real Estate Weekly], Robert Reffkin, Compass's Founder and CEO, said that "Boston's strong real estate market provides a unique opportunity for us to showcase our innovative technology, which brings intelligence to the home purchase and sale processes. We are confident that Boston's real estate leaders and consumers alike will find that working with our mobile-first technology eliminates many obstacles, resulting in a faster, easier and more efficient home-buying experience."
The new office is located in 126 Newbury Street in Back Bay District and has a total of 21,000 square feet in a three- story building. As a part of their expansion, Compass has welcomed a handful of new bright individuals who will work on their Boston office. One of them is Jeannemarie Conley, who will act as the office's managing director. Conley has a lot of impressive credentials up her sleeve which include more than $200 million sales. Also, she was able to sell a $12.5 million condo which is the highest priced residential sale of the state last 2012. She was also the top produce at Otis & Ahearn last 213.
Compass' mobile app has been rated as the no. 1 real estate app in New York due to its features that cut the agents and clients time by "reducing reliance on multiple platforms."
According to bostonglobe.com, Compass has a decent profit record despite of its lawsuits from two other larger brokerage firms in New York. The two firms had filed a lawsuit against Compass for allegedly raiding the companies of talent and stealing propriety data which are both settles in New York court.
Compass' success continued as investors kept on trusting the firm enabling them to raise $123 million in venture capital a valuation estimated at $800 million.
