https://www.youtube.com/enjoy?v=tzKrYn9RSXk
Just an hour right before Robert Reffkin had to update investors about Compass’ third-quarter effects – a quarter in which the brokerage lost $154 million and its profits fell 14 % year-above-calendar year – he appeared on phase with The Actual Deal to go over his company’s financial health and his method to brokers, rivals and traders.
Reffkin addressed the fact that Compass’ sector cap was numerous hundreds of tens of millions of pounds below what the organization had elevated from buyers, by declaring that “the globe has shifted overnight.”
“We went from investors expressing ‘I want providers to increase, improve, increase, grow’ – and we did what they desired – and now buyers want you to target on earnings, and so we’re shifting,” he explained to TRD‘s Amir Korangy at the publication’s South Florida Showcase + Forum Thursday.
And he emphasized, to a home chock-entire of cheering Compass brokers, that the firm would keep on being obsessively centered on bettering the agent working experience.
“Every time you browse a headline that claims Compass missing funds,” he mentioned, “what it is expressing that Compass made the decision to spend far more in the future of the agent than other firms – that is all it’s expressing.”
Korangy requested Reffkin about how he dealt with remaining the residential industry’s boogeyman – the particular person that all the other firms’ leaders and brokers adore to dislike on.
“Every day of the past 10 decades we have had competition foremost with adverse narratives,” Reffkin mentioned. “This market is comprehensive of a amount of vitriol and negativity that I have never ever found.”
Enjoy the online video previously mentioned for the total conversation with Reffkin. And see much more highlights from the event here.
