Compass And The Future 2


In the post-settlement world where agents are expected to prove their value, Compass will soon unveil a new client-facing portal that it says will streamline the transaction process for buyers and sellers while also helping its agents build more business.

The new portal is being introduced as Compass continues to push agents and consumers toward its private listings channel — betting on a future where the hotly contested Clear Cooperation Policy is repealed.

An all-in-one interface for buyers and sellers

According to Rory Golod, Compass’ president of growth and communications, the portal — dubbed Compass One — is “the first of its kind” in the industry, allowing an agent and client to work together through the entire transaction. The brokerage has also called the product, which it developed fully in-house, “the #1 most requested piece of technology” for agents and clients. Compass built it out in phases, Golod said, starting with the agent tools and then creating Compass One.

“It’s interesting that in other advisory businesses — whether it’s banking, accounting or other businesses — you log into a portal,” he explained to Real Estate News. “If you work with a private wealth manager, you go to their portal, you see all your assets, your communications, and your documents.”

The platform offers a detailed timeline of the buying and selling process along with the expected timing for each step. Service providers such as mortgage brokers or inspectors “live in here too,” Golod said.

Pushing private listings, helping sellers avoid ‘negative insights’

But bringing the client, agent and other professionals together isn’t the only thing the new platform does. It also integrates the company’s “3-phase marketing strategy” where agents are encouraged to pitch sellers on the Compass Private Exclusives channel first and the Compass Coming Soon channel second before going to the open market. The company formally launched this strategy last November.

“Taking a listing and just throwing it on the MLS and aggregators on the first day you launch it without getting any feedback from the market, understanding if you’re priced right, understanding what the demand is and building up interest — you’re not serving your clients’ best interests,” Golod explained.

Currently, Compass has about 5,500 Private Exclusive listings, a spokesperson said.

One of the first tasks for sellers and their agents in the One Compass portal is to discuss the Compass Private Exclusives channel. Golod said the push toward private listings puts regular home sellers on the same footing as “homebuilders, celebrities and ultra-high-net worth clients” who often sell their homes off the MLS, and it helps sellers avoid “negative insights that hurt their value” such as days on market and price reductions.

Read the full article here:

https://www.realestatenews.com/2025/02/01/compass-launches-client-portal-amid-private-listings-push

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The discussion of the future went a bit further yesterday on Greg’s blog:

https://www.vendoralley.com/2025/02/02/crmls-aint-playing/#comments

All of the listings mentioned above were listed in the MLS and available for buyer-agents to sell. But where are they? Realtors will tolerate the current policy for a while longer, but we don’t like it either – and though the MLS used to be the ideal solution for all involved, those days are behind us now. For many agents, representing buyers is more trouble than its worth.

Remember a couple of years ago when I started predicting that buyer-agents will go away?

This is it – it’s happening right in front of us, and nothing will stop it.

Compass And The Future

The Future of Real Estate Belongs to Compass

With a strong foundation built on agent expertise, innovative technology, and a customer-first approach, Compass is well-positioned to overtake Zillow as the most influential real estate platform. As Zillow continues to struggle with profitability and data limitations, Compass is thriving by embracing the reality that real estate is not just about listings—it’s about relationships and local market knowledge.

As Zillow continues to struggle with profitability—marking its twelfth straight year without earning a profit—Compass is poised for continued growth. Real estate is inherently a local business, and Reffkin’s strategy of leveraging a strong network of agents gives Compass a significant edge over data-driven platforms that lack a personal touch.

With Robert Reffkin at the helm, Compass is not just competing with Zillow; it is redefining the real estate experience and paving the way for a more efficient, agent-focused industry future.

As the industry continues to evolve, buyers and sellers will increasingly seek platforms that offer not just data, but also real, tangible support from experienced professionals. With its unique model, Compass is set to lead the future of real estate, leaving Zillow struggling to keep up.

Read the full article here:

https://www.openhausrealty.com/blog/why-compass-will-overtake-zillow-as-the-most-popular-real-estate-platform/

Inventory Watch

My predicted surge in inventory is underway – look at the navy-blue line above. There are 363 active listings between La Jolla and Carlsbad today, and once the Super Bowl is out of the way, we should really get rocking. It should easily reach 400 before the end of the month.

It’s not a bad thing for the sellers who are willing to price attractively – there is still plenty of action. There will just be more this year that don’t sell at all.

NSDCC New Listings In The Last Week: 72 (+8%)

NSDCC New Pendings In The Last Week: 28 (+9%)

Buyers love the additional choices and will continue to be very picky, especially on price.

How did last month measure up?

NSDCC January Sales: 117 (102 last January)

NSDCC January Listings: 243 (242 last January)

Both of those categories should swell by roughly 10% as the late-reporters log in.

The final guesses on the number of NSDCC January listings:

211 – Eddie89

213 – Shadash

216 – regina

246 – Anne M

267 – Surfrider

280 – doughboy

293 – Joe

296 – Tim DeRoche

303 – Tom

307 – Jun

311 – SN

317 – CB Mark

318 – Nick

328 – Majeed

337 – natalie

353 – Derek

355 – Skip

365 – Leo

401 – Dr k

417 – Susie

421 – Giving Cat

Giving Cat (Rob Dawg) will probably endure the same fate as with the Coffee Bet – being correct, just early.

In April, 2009, real estate bloggers did a panel discussion on when the bottom would be, and I guessed December, 2011. Instead, the bottom happened during the very month of our discussion – April, 2009! https://www.bubbleinfo.com/2009/04/24/coffee-bet-2/

Check those lively comment sections too!

(more…)

Handling Multiple Offers

This guy suggests that the listing agent should skip the highest-and-best round, and instead, select the offer written by the buyer-agent that they think is most likely to close the deal – after trying to bump them another $5,000 or $10,000.

I like to do the highest-and-best round first to establish a new floor, and then go around to each buyer-agent and give them the number to beat in my slow-motion auction. Selecting an offer written by a buyer-agent who you think can get to the finish line is a critical part of the equation, but not as important as being the highest price.

Why? Because my contest is very specific – the buyer who submits the highest price wins the home. We vet the buyers and agents initially to ensure they are real contenders, and I will take my chances that Donna can get anyone to the finish line.

 

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Albertus Klinge

My great-grandfather Albertus Klinge and I share a birthday.

He was born on February 1, 1858 in Gramsbergen, a small town on the river in the Netherlands. When he was 29 years old, he married 19-year old Joanna Tiebert who also lived in the same town of ~1,000 people.

They started having kids, and they moved to Holland, Michigan just before the turn of the century.

By the time my grandfather Albert came along in 1909, they already had so many kids that they had to start using the same names over again! The first Albert had died in 1904.

Albertus was a wooden-shoe maker, and he made over 200,000 pairs of shoes in his life! I remember having a pair as a kid, and they were the most uncomfortable shoes ever.

Happy Heavenly Birthday Albertus (and second place is still really good)!

Flood Talk

It never occurs to the experts that higher prices have something to do with the locked-in effect, and that home sellers have to move to where it’s much cheaper to make it worth moving. For those who pay cash for their next home, having a 3% mortgage didn’t keep them from moving today – or any day.

I think my +15% to +20% inventory prediction is looking pretty good:

Some segments of the U.S. residential real estate market started to thaw in January after December’s deep freeze, with a growing number of homeowners listing their homes for sale in a sign that the stubborn “lock-in” effect is finally beginning to ease.

The “lock-in effect” refers to homeowners’ reluctance to sell because they have a low mortgage rate and would have to take out a mortgage at a higher rate when they buy a new home.

Even though the 30-year fixed mortgage rates continue to be high, hovering at just below 7%, homeowners seem to have accepted this new normal and are not letting it stop them.

“While rates remain elevated, it is possible that we might be seeing that chiseling effect starting as sellers may grow tired of waiting for significant changes in rates,” says Realtor.com® Chief Economist Danielle Hale in her January monthly housing report.

“Further, while the lock-in effect remains a factor for many sellers, the strength of the effect is gradually waning,” Hale adds.

Realtor.com projects that home sales will rise by 1.5% in 2025, thanks in large part to the passage of time and slowly decreasing mortgage rates chipping away at the lock-in effect that has been hampering home sales for months.

The latest available data shows that newly listed homes were up 10.8% year-over-year, making it the busiest January in terms of new listing activity since 2021.

What’s more, freshly listed homes shot up 37.5% compared with December, marking the largest month-over-month spike in five years.

“Time and natural turnover could be leading some sellers to make a move this year despite higher rates,” explains Hale.

Looking at the big picture, overall home inventory across the U.S. was up 24.6% compared with the same time last year, a 15th consecutive month of growth. In terms of raw numbers, there were 829,376 active listings in January, plus 314,545 under-contract listings, also known as pending listings.

While home sellers are eager to sell, it seems that homebuyers are still hesitant to buy.

The average home lingered unsold for 73 days, making this January the slowest since 2020. Homes spent five days more on the market than last year and three days more than last month.

https://www.realtor.com/news/trends/mortgage-lock-in-effect-january-housing-report/

Thank You!

Last year was a record for us, and we are very grateful for your support!

We were also in the Top 2% of the Compass agents in San Diego County.

Thank you, and let’s do it again this year!

Money Will Fix This

This should be a piece of cake!

We had five offers to purchase this 1979 custom home, but because it is hard to look at, buyers expect a BIG discount. Here I review a simple plan to bring it into this era. The comp that just closed this week for $2,895,000 is a three-story house – have you ever seen a decent 3-story? Me neither – they are usually two great floors with a converted attic or basement, so the effective square footage would be about the same as this house. But we’re way off the busy street and right on the 4th hole at La Costa! Only $1,995,000.

Home Buyer Tips

What can home buyers do to simplify their search?

Being realistic is a great place to start. Virtually every realtor promises to find you a ‘dream home’, and it’s easy to believe that there must be a perfect home out there, no matter the price range.

The perfect homes start at $10 million though. If you are in that range, I will find you a dream home!

Everyone else will have to kiss a few frogs to help narrow the search to homes that are suitable.

Here are a few quick ideas to help qualify the homes you see:

  • You will be considering older homes that could use some work. Only consider buying the homes that have at least HALF of the necessary remodeling already completed. Unless it has a spectacular location or other premium feature, then make sure the seller has given you a quality head start on the remodeling.
  • Expect to spend $25,000 to $50,000 on any house you buy. It changes the mindset from searching for the perfect home to a realistic hunt for where you will spend the money to add your personal touches to someone else’s home.
  • If this purchase might be your forever home, then insist on at least 2,000sf.
  • Compromise is part of the package. But limit your compromises to one or two only. If you find yourself seeing more than two things you don’t like, then this home ain’t for you. Importantly, this isn’t the last home for sale – there will be othesr!

The preferred features to consider in your search: location, private, sunny backyard, interior with natural light, larger functional kitchen, one-story, view or visual openness, 3-car garage, bedroom suite downstairs, possible forever home.

Get Good Help!

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