Fast growing national residential real estate company Compass Inc. on Thursday announced its intention to become a major player in the Indianapolis area by hiring 23 local agents for its team.
The New York-based company, which went public in April with a $ 450 million initial public offering, said local agents had sales of over $ 160 million in 2020.
The biggest addition to Compass has been renowned agent Carrie Hall and her team of seven agents, who have focused on luxury homes in the Carmel area with $ 65 million in sales last year.
Compass said other supplements include Greg Cooper and Lisa Phillips of the Cooper Group, Mike Feldman of Bond Real Estate, Erin Hundley, Ben Jones of The Jones Team, and Stacy Sobchak of FC Tucker Co.
He also named Michelle Powell as Indiana’s official broker.
“We are thrilled to be working in Indiana with such a respected group of founding agents,” said Rachel Ron, regional president of Compass, in writing.
Founded in 2012, Compass has become the second largest residential real estate brokerage in the United States with a 5.2% market share. The company operates like a traditional brokerage company, but positions itself as a real estate technology company with a cloud-based digital platform that simplifies the home buying process and gives its agents an edge over other sellers.
Compass has approximately 21,000 agents in over 50 markets. In 2020, he helped home sellers and buyers complete $ 152 billion in residential property deals.
Its agents are hired as independent contractors under the brand name.
Compass reported $ 1.1 billion in revenue in the first quarter following a $ 43.8 billion IPO of 40,268 deals. He reported a net loss of $ 212.4 million and expenses rose to $ 1.3 billion.
Amid its success, Compass has been the subject of many lawsuits from rival real estate companies due to its hiring tactics and former agents who claimed to have signed deceptive and deceptive contracts with the company. At least four lawsuits have been filed since the company went public, including a California class action status claim alleging Compass lied about agent commissions, marketing fees and costs. Compass said the claims were unfounded.
Compass traded at $ 12.94 every Thursday, up from $ 20.15 at the IPO.