Disrupters on the Move: Compass and Opendoor

Compass is expanding…

…and this time they’re moving into the Atlanta market with two offices to be located in  Buckhead and Midtown later this year.  These offices will be lead by two well-known agents recruited by Compass: Jim Getzinger, who sold $70 million in 2017, and Jere Metcalf, whose team closed $37 million in sales over the past 12 months both previously associated with Atlanta Fine Homes Sotheby’s International Realty.

What’s Next For Compass?

The company plans to enter more markets before the end of 2018.  We all remember Robert Reffkin’s bold statement where he shared the company’s ambitious goal of grabbing 20 percent of the market share in the 20 largest U.S cities by the year 2020.  And it appears the $1.8 billion-valued company is set on making this goal a reality. As of today, Compass has approximately 90 offices with 4,500 agents in 16 major markets across the country.

“We’re eager to join the Compass family and contribute to their collaborative culture. We’ve felt like a true partner from the beginning and look forward to the impact Compass’ support and technology will have on our business.”

-Jere Metcalf

Speaking of expanding markets

Opendoor announced it will soon launch its online iBuyer services in Sacramento and Riverside, California; Denver, Colorado, and Portland, Oregon. Sacramento and Riverside will be the first markets in California the San Francisco based company will service.  According to an article publish by TechCrunch, Opendoor hopes to keep expanding into other markets much like Compass. Their goal? To be in 50 markets by 2020. However, Opendoor must also compete with other iBuyer companies like Knock, OfferPad, Zillow, etc.