NEW YORK, NY, MARCH 14, 2022 – Compass, Inc., a leading technology-enabled residential real estate brokerage, today announced that it has expanded its presence in Northern California with the opening of a new office in Sacramento. More than 30 agents will be joining the new hub of operations, which is located at 1610 R Street, Suite 300, in Midtown Sacramento.
The expansion into the state’s capital will bolster the company’s rapid growth in Northern California as technology-backed agents continue to redefine the home buying and selling process. Within the past year, Compass has launched in a number of major markets, including New Hampshire, Wisconsin, Minnesota, Indiana, Missouri, North Carolina, and Delaware, further boosting Compass’ leading agent referral network from coast to coast.
“We’re seeing a lot of people from the Bay Area moving into the Sacramento region because consumers are getting a lot more value for their dollar,” said Kathy Murphy, Sales Manager for Compass in Sacramento. “There’s so much demand here right now that homes in some areas of the Sacramento Valley sell after just two to three days on the market.”
“Sacramento is the natural bridge between our presence in Lake Tahoe and the Bay Area, and is one of the largest metropolitan areas in California. I am absolutely thrilled to be part of such a monumental launch, and our Compass offerings will help our agents drive more efficiencies to the market,” said Kathy Murphy.
These efficiencies include programs such as Compass Concierge - an exclusive program through which Compass will front the cost of home improvements for sellers to both sell their home faster and for more money. Home improvements can consist of landscaping to increase curb appeal, interior or exterior painting, flooring, decluttering, staging, and more.
Compass also provides agents with a customer relationship management platform, highlighted by a Likely To Sell feature, which, powered by artificial intelligence, provides agents with a detailed list of their clients who are likely to sell. Especially in today’s low inventory market, it’s a proactive way for agents to generate listing opportunities and provide supply to the market.
Today, Compass is home to over 26,000 agents in 69 markets covering nearly half of the United States population. In 2021, Compass agents across the country sold over a quarter of a trillion dollars in real estate, closing approximately 225,000 transactions, which resulted in $6.4 billion in 2021 revenue for the company.
Cautionary Note Regarding Forward-Looking Statements
Statements contained in this press release that refer to future events or other non-historical facts are forward-looking statements that reflect Compass' current perspective on existing trends and information as of the date of this release. Statements containing words such as "plan," or similar expressions constitute forward-looking statements. These forward-looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Actual results may differ materially from Compass' current expectations depending upon a number of factors affecting Compass' business, including, but not limited to, expansion into new markets, prevailing market conditions, the impact of general economic, industry or political conditions in the United States or internationally, and any future risks related to the impact of the ongoing COVID-19 pandemic. The foregoing list of risks and uncertainties is illustrative, but is not exhaustive. For information about other potential factors that could affect Compass' business and financial results, please review the "Risk Factors" described in Compass' Form 10-K for the year ended December 31, 2021 filed with the Securities and Exchange Commission (the "SEC") on February 28, 2022, and Compass' other filings with the SEC. Except as may be required by law, Compass undertakes no obligation, and does not intend, to update these forward-looking statements after the date of this release.
