{"id":3747,"date":"2022-12-06T14:33:11","date_gmt":"2022-12-06T14:33:11","guid":{"rendered":"https:\/\/preprod.realtrends.com\/blog\/2022\/12\/06\/lasting-impact-compasss-robert-reffkin-for-scaling-talent-attraction-for-rapid-growth\/"},"modified":"2025-03-13T02:48:12","modified_gmt":"2025-03-13T02:48:12","slug":"lasting-impact-compasss-robert-reffkin-for-scaling-talent-attraction-for-rapid-growth","status":"publish","type":"post","link":"https:\/\/preprod.realtrends.com\/blog\/2022\/12\/06\/lasting-impact-compasss-robert-reffkin-for-scaling-talent-attraction-for-rapid-growth\/","title":{"rendered":"Lasting Impact: Compass&#8217;s Robert Reffkin for scaling talent attraction for rapid growth"},"content":{"rendered":"\n<p><strong>Lasting Impact: Robert Reffkin, co-founder and CEO of <a href=\"https:\/\/profiles.realtrends.com\/broker-details\/compass\/r\/rec77S4Jop25LAg5B\" target=\"_blank\" rel=\"noreferrer noopener\">Compass<\/a>, founded a new brokerage from scratch with a focus on attracting and acquiring the practices of over 26,000 agents in its first 10 years in business.\u00a0He took the tactic of building a national brokerage business from acquiring brokerage firms to directly acquiring agents and teams through the use of upfront bonuses, stock options and marketing allowances.<\/strong><\/p>\n\n\n\n<p>While Reffkin wasn\u2019t the first leader of a brokerage firm to use financial incentives to attract the practices of top agents and teams, (think <strong>RE\/MAX<\/strong> 40 years ago) he was the first to do so on a scale never imagined before.\u00a0 <\/p>\n\n\n\n<p>In doing so, he opened two doors \u2014 that top agents and teams realized that their practices had value. And, that one could build a large brokerage through the acquisition of agent and team businesses as opposed to using capital to buy brokerage firms.<\/p>\n\n\n\n<p>In addition, his use of <a href=\"https:\/\/preprod.realtrends.com\/blog\/articles\/compass-chasing-profitability-makes-another-round-of-cuts\/\" target=\"_blank\" rel=\"noreferrer noopener\">equity in the brokerage firm<\/a> on a large scale as a part of the financial incentive to attract agents opened the door for others to do so, as well. While one can argue that <strong><a href=\"https:\/\/profiles.realtrends.com\/broker-details\/exp+realty\/r\/recZYWXHFDsGcNPnG\" target=\"_blank\" rel=\"noreferrer noopener\">eXp<\/a><\/strong> began to use shares of a brokerage firm to attract and incentivize agents to join a team, Reffkin certainly used that equally to good effect.<\/p>\n\n\n\n<p>Reffkin also built what has become the largest brokerage in the U.S. in less than 10 years.\u00a0The only firm to do so as quickly was today\u2019s <strong><a href=\"https:\/\/profiles.realtrends.com\/broker-details\/realogy+brokerage+group\/r\/recb6TtvHdtVSq0jJ\" target=\"_blank\" rel=\"noreferrer noopener\">Anywhere Real Estate<\/a><\/strong>, which had its roots when <strong>HFS<\/strong> (its predecessor) acquired the owned brokerages of <strong>Coldwell Banker<\/strong> back in 1996 and began to aggressively acquire other brokerage firms. By the late 1990s, it became the largest brokerage in the company, then known as <strong>NRT<\/strong>.\u00a0 <\/p>\n\n\n\n<p>One may debate which path was more effective, buying brokerage firms or agents, regardless Reffkin has changed the landscape of brokerage forever.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Robert Reffkin, co-founder and CEO of Compass, founded a new brokerage from scratch with a focus on attracting and acquiring the practices of over 26,000 agents in its first 10 years in business.<\/p>\n","protected":false},"author":15802,"featured_media":4822,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[3255],"tags":[],"coauthors":[27],"class_list":["post-3747","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-archive"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v25.4 (Yoast SEO v26.8) - 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