The latest on Compass

Revenue dipped, but Compass managed to gain more than 1,000 agents in 2023 and cut losses for the year nearly by half.

In the Q3 earnings call, Robert Reffkin said Sitzer/Burnett probably won't lower commission splits, highlighted the company's strength despite continued losses.

The brokerage lost $48 million in Q2 — an improvement after substantial losses in Q1 — and the company emphasized its free positive cash flow.

With the rollout underway for its end-to-end transaction platform, and agent count up, Compass projects that it will be cash-flow positive next quarter.

Revenue was $1.1 billion, down 31% compared to Q4 2021, but cost-cutting measures may be stemming the tide of losses.

CEO and founder Robert Reffkin said that lower sales volumes are creating “significant challenges” for the housing industry as mortgage rates climb.