Compass reports $101M 2Q loss, ends agent recruiting equity and incentive programs

After posting a $494 million loss in 2021, Compass lost $289 million in the first half of 2022, of which $101 million was in the second quarter. The fast-growing brokerage, which became the nation’s largest this year with a 2021 sales volume of $254.2 billion, has struggled to secure profits as it looks to establish fundamentals after a decade of whirlwind growth. As part of the recent earnings report, company CEO Robert Reffkin shared that the firm is ending new-agent equity and compensation programs. These programs underpinned its aggressive recruiting and growth strategies. Now, more than ever perhaps, the company will be competing with others to recruit and retain agents based more so on the core brokerage fundamentals of brand, tech and support.