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Celebrity broker Ryan Serhant weighs in on his thoughts about Compass
Ryan Serhant
Celebrity broker Ryan Serhant weighs in on his thoughts about Compass.
Serhant said Compass the real estate brokerage firm, which gobbled up market share in the years leading up to its IPO by attracting top agents with cutting-edge technology and financial incentives, has focused on trying to “disrupt the market” as much as it has on selling real estate.
“It’s just like the rich kid who comes into school and he starts breaking everyone’s glass toys,” he said. “People might say, okay, well, he’s rich, I’m gonna go over there, that’s fun and exciting, and he just broke my toy so I guess I got to go play with his toys. But slowly over time, people don’t want to play with that kid anymore.”
Who is Ryan Serhant?
Serhant, who starred in nine seasons of “Million Dollar Listing New York” before Bravo put the series “on pause” in July, said that while the show may be off the air, he won’t be for long.
How can I listen to the Compass podcast?
Catch the whole conversation on the latest episode of “Deconstruct,” now streaming on Apple Podcasts, Spotify and wherever else you get your podcast fix.
What are Ryan Serhant thoughts on Compass burning so much cash?
At the end of the day, Compass is a fundraising company more than anything else, and they executed on that plan perfectly—better than any other real estate firm in the history of the world. Asking them to stop burning cash is like asking a Mack truck to stop burning diesel fuel while it rockets down the highway. Can’t do it. It’s how it was built.
Has Compass changed the real estate industry?
Ryan Serhant believes Compass has changed the real estate industry, especially for agents. It forced the industry to step up its game with technology that works across devices and platforms to “make the very difficult job of being a real estate agent as easy as possible.”
Why do Compass real estate competitors care so much about their success?
Serhant has a theory as to why the real estate industry cares so much about Compass’s apparent inability to turn a profit.
The only reason the industry cares is because Compass came onto the scene like a new rich kid at school and started breaking everyone’s toys. And now that rich kid is a little less rich, and people are eating it up…
What are Ryan Serhant parting words on Compass?
- Focus on the good Compass has done for the real estate industry.
- Stop with the negativity.
- Take what you can use from their example, and move forward.
Compass set out to disrupt the industry, and they’ve done it. “Let’s see what happens,” Serhant is more curious than ever, either positive or negative about their future.
