Compass Earns $62 Million as Revenue Hits $3.9 Billion

Compass wants buyers to check its map before anyone else's. The brokerage, which absorbed Anywhere Real Estate in January, reported third-quarter revenue of $3.90 billion and GAAP net income of $62 million on November 5, against a $4 million loss a year earlier ^[1].

Revenue grew 11.6% from a pro forma $3.49 billion, the figure that treats the two firms as combined a year ago ^[1].

Beating a slow market

• Brokerage agents closed 140,118 transactions; on an organic basis deals slipped 0.3%, versus a 1.8% drop for the whole U.S. market ^[1].
• Organic brokerage sales volume rose 7.5% to $133.1 billion while national volume grew 0.7% ^[1].
• The agent count reached 85,476, up from 83,184 at the end of June ^[1].
• Traffic to Compass apps and sites was up 53.6% from a year earlier, per SimilarWeb data cited by HousingWire ^[2].

But the growth comes with a fight over listings. Reffkin said 63% of new Compass brand listings in unrestricted cities now start with private or coming soon marketing, HousingWire reported ^[2]. Rival brokerages have launched Open Real Estate, a national listing data effort Reffkin said Compass may join ^[2]. HousingWire put net income at $63 million, slightly above the $62 million in the company release ^[1][2].

What it means for you

Compass brokerage agents handled $138.9 billion of sales across 140,118 deals ^[1], about $991,000 per transaction by our math. If you shop in high-priced markets, some homes may surface on a brokerage's own site days before Zillow or the MLS. Buyers should ask agents which private inventory they can see. Sellers should weigh a quiet launch against the wider exposure of a public listing.

Zoom out

Total long-term debt stood at $3.14 billion, with net debt at 2.7 times adjusted EBITDA ^[1]. Brokerages are consolidating while sales stay flat, and control of listing data is becoming the main prize.