Compass Rolls Out ‘Compass Resort’ to Meet the Rising Demand for Vacation and Second Homes

New York, NY - November 12, 2024 - Compass, Inc. (NYSE: COMP) ("Compass" or "the Company"), the largest residential real estate brokerage in the United States by sales volume, announces the launch of Compass Resort, a new network tailored to the needs of agents serving vacation markets and clients seeking second, third, or even fourth homes. As demand grows among buyers looking to expand their property portfolios in luxury and lifestyle destinations, Compass Resort is positioned to offer the expertise and personalized service that both agents and clients require. The initiative is led by Compass agents Jordie Karlinski, Jack Pearson, Jen O'Hanlon, and Steve Springer.

"We're excited to introduce a new level of service for second-home buyers and their agents," said Karlinski, Co-Founder of Compass Resort and a Compass agent in Aspen. "We've got the white-glove approach dialed in, but this is really about tailoring that service to this sector's unique needs and priorities."

The launch of Compass Resort is timely as ultra-high-net-worth buyers continue to seek properties beyond luxury hotspots. In 2022 alone, ten U.S. markets saw homes priced at $10 million or more sell for the first time, according to a Compass report. In Colorado, Aspen remains a premier market for luxury homes, but nearby communities like Basalt and Carbondale are attracting increasingly high-net-worth buyers who prefer quieter, community-oriented destinations while maintaining access to world-class amenities.

Meanwhile, the shift toward hybrid and remote work has prompted more individuals to rethink the concept of "home," with many now looking for weekend escapes or investment properties.

"COVID turned the real estate world upside down," said Springer, a Compass Agent in San Diego. "Suddenly, people were buying homes in unexpected places, and younger buyers started thinking about vacation properties much earlier than ever before. Whether it's a third or fourth home or a first foray into vacation real estate, our clients are navigating decisions like beach house versus mountain cabin, which brings a whole new set of considerations."

For Compass Resort, the focus is not just on glamorous vacation homes in well-known destinations but also on smaller feeder markets like the San Juan Islands in Washington and Lake Geneva in Wisconsin.

According to O'Hanlon, a Compass agent in Martha's Vineyard, the agent's role in these transactions goes far beyond matching clients with pretty properties.

"These buyers see their second homes as part of their broader wealth portfolio," explained Pearson, Co-Founder of Compass Resort and a Compass agent in the Hamptons. "Agents become more like wealth managers, helping them evaluate investment potential, seasonal rental opportunities, and resale value. There's much more to consider-like insurance regulations or local zoning laws-making having an expert in this space crucial."

Compass Resort will officially debut on November 13th during Compass' annual company retreat, which will take place in Charleston, South Carolina, this year. The network of agents will take center stage, hosting an exclusive launch party. The party will connect Compass agents from 30+ second-home and vacation markets across the country to share insights on trends, foster referral opportunities, and elevate the second-home experience.

"Compass is fully committed to supporting our agents and their clients with this new network," said Will Hardy, Chief of Staff at Compass. "At Compass, we're working with our agents and their clients to create a company that better serves homeowners and are excited to see how we can further elevate the client experience in this specialized market."

For more information on Compass Resort, visit https://compass-resort.com/ and follow their Instagram account.