Compass rolls out healthcare, retirement support for agents
The brokerage has partnered with health and financial providers who can offer free, concierge-style guidance, and it plans to introduce more benefits next year.
More than 250,000 agents under the Compass International Holdings banner will now have access to free support when navigating the healthcare system and planning for retirement.
Compass today introduced the new "concierge" benefit, which it said will provide participating agents with expert guidance on finding the right health plan, dealing with claims, understanding tax credits and setting up Solo(k) or Team 401(k) retirement plans, among other topics.
Easing the burden: While the brokerage company isn't offering health or retirement benefits directly, it says the concierge program will include "opportunities for meaningful savings and preferred pricing," according to a news release.
The firm is partnering with Stride, TouchCare, Morgan Stanley and Vestwell, whose representatives will be available 365 days a year, to support agents in "areas that are historically burdensome and complex for independent contractors," Compass added.
Helping agents 'succeed as entrepreneurs': The goal of the program is to offer personalized guidance and answers for agents so they can make more informed decisions, Compass said.
"One of the top requests I hear from our real estate professionals is better support and access for healthcare and retirement," Compass International Holdings CEO and Chairman Robert Reffkin said in the announcement. "Our job is to provide everything they need to succeed as entrepreneurs, and that includes helping them care for themselves and their families."
More benefits coming: Reffkin noted that Compass plans to introduce other offerings next year, including life and disability coverage, more retirement savings options and vendor discounts.
"In the years to come, Compass International Holdings will continue to work towards a goal of providing every member of our network with better resources to obtain higher-quality, lower-cost healthcare and retirement planning options, built specifically for the way independent real estate professionals work," he said.
Broader industry efforts: Healthcare was one of the National Association of Realtors' advocacy priorities when its leaders convened in Washington, D.C., over the summer. NAR noted that 14% of its members don't have health insurance, largely due to high costs, and pushed for rule changes that would allow independent contractors to access association health plans.
Some brokerages have taken it upon themselves to give their agents more affordable access to healthcare. Large firms including eXp and REMAX began offering health plan options for agents in 2021, and The Real Brokerage and United Real Estate introduced programs in 2023.
Also that year, Real rolled out Real Retirement, which allows agents who are no longer representing clients to continue collecting revenue share payments, and WealthPlan, a collection of financial tools geared toward education and planning.
Just last month, California-based brokerage Equity Union announced it was offering a healthcare program for agents and their families.