I've been a Compass client for several yrs and have generated ~$100m of the "Gross Transaction Value" they crow about in their S-1 (bs metric to focus on, since Compass only earns commissions of 3~5% of that). Most of the tech they promised in their initial pitch either doesn't exist or is outsourced to third-parties. Even basic services such as marketing/SEO in our market is handled by 3Ps. From a client POV, nothing differentiates them from other major brokerages. At the end of the day, RE is a people biz; I've stuck with them because I like the agents we work with. If these agents were to jump ship, I'd leave as well.

It’s a tech enabled brokerage but not a tech company. It’s a services company. The technology ingesting a bunch of IDX feeds and making them searchable is decades old functionality that literally every large brokerage in the country has. Redfin is far ahead in the agent technology space and operates far more effectively. If they classify as a technology company then so does every competing brokerage in the space (Keller Williams, Coldwell Banker, etc)

I am working on a real estate product for agents. Wondering if you can critique / provide inputs on a SaaS model for agents. Could I email you? Thx!