Compass Launches Proprietary ‘Reverse Prospecting’ Tool for Home Sellers

New York, NY - October 28, 2024 - Compass, Inc. (NYSE: COMP) ("Compass" or "the Company"), the largest residential real estate company in the United States by sales volume, introduces Compass Reverse Prospecting. This powerful new tool enables agents and home sellers to identify which of the 33,000+ Compass agents and their millions of buyers have viewed, shared, favorited, or commented on their listing. With these insights, the listing agent can develop an informed outreach strategy to bring interested buyers to the transaction. The tool is powered by Compass Collections, the company's interactive home search platform that helps Compass agents organize, monitor, and collaborate on curated property portfolios with their clients. The Compass technology platform now reflects $1.7 billion of investment.

"People's homes are their most valuable financial asset, and they deserve the best return when they sell it so they can buy their next home, feel secure in their retirement, or pay for their child's education," said Compass Founder and CEO Robert Reffkin. "How the most well-known real estate websites have built their business model hurts home sellers by providing negative insights such as days on market and price drops to buyers to help them negotiate against home sellers. The Compass Reverse Prospecting tool provides home sellers insights to help them negotiate with buyers, make smarter pricing decisions, and access a wider buyer pool. At Compass, we believe selling your home should be done on your terms, with control over how it's marketed and how your data is used. Your Home. Your Choice."

Developed by Compass' in-house technology team in response to agent feedback, Compass Reverse Prospecting enhances agents' ability to make data-driven decisions that benefit their clients. Over time, the tool will integrate further with other Compass platform offerings to provide deeper insights into buyer behavior and market trends.

Compass Reverse Prospecting is available for all listings on the Compass platform as part of the company's multi-phased marketing plan. This approach mirrors the world's most successful retailers and real estate developers, focusing on building interest and anticipation before launch.

By first listing a home as a Compass Private Exclusive, home sellers can extend the marketing runway without accumulating 'days on market' or negative public price drops before launching their home on the MLS and public portal sites, where it will start accruing days on market, show price drop history, and where the listing agent's name is taken off the listing, diverting inquiries away from the listing agent who knows most about the home and therefore can serve the seller better.