Compass boosts private listings while weighing Open Real Estate

Compass International Holdings CEO Robert Reffkin is not ruling out the possibility that his firm joins national residential real estate data-sharing initiative Open Real Estate. “We welcome this change. It actually validates what we’ve been saying for the better part of two years, and so we are really excited to see the four of them lead in this way and to see others join,” Reffkin said during his firm’s third quarter 2206 earnings call with investors and analysts Thursday evening. “In terms of joining or not, I think there’s definitely a path, but Compass International Holdings is definitely excited that there will be a national real estate listing service that will return the power back to the creator of the listing, the homeowner and their trusted agent, and that it’s good news for all agents and for all their clients, and we’re looking forward to seeing if there’s a way for us to be involved.” Despite his praise for the initiative, which was founded by four of his largest competitors in the brokerage space and aims for fair and equal access to listing data, Reffkin also noted the growth of his firm’s private exclusive inventory. As of early November, Reffkin said Compass had 8...