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Leaning into Structural Advantages to Deliver Outsized Real Estate Growth with Robert Reffkin

Willy was joined by Robert Reffkin, the Founder and CEO of real estate tech company Compass, Inc., live from the 2024 Zelman & Associates Housing Summit. He and Willy discussed topics including Robert’s humble upbringing and how it led him down the path to entrepreneurship, pivotal moments that shaped his career, combatting negativity and lessons learned through hardship, Compass’ investment in technology, intricacies of the real estate market, Robert’s vision for the company and where it will be in twenty years, and much more. Key Points In The Webcast: 00:00 Introduction. 01:14 Running the Boston Marathon. 02:38 Life in Oakland and his family lineage. 05:13 Studying in Columbia and going to McKinsey. 09:11 Becoming a White House fellow. 11:32 Working for Goldman Sachs in the Great Financial Crisis. 16:43 Being a disc jockey in the Bay Area. 17:22 Compass’ tagline and the easiest way to success. 19:30 Building a broker-centric firm. 22:42 How integration becomes innovation. 26:47 Can you build culture with contractors? 28:30 The power of a repeat and referral business. 31:08 Where’s Compass at in terms of scaling? 34:07 What impacts agent retention? 36:17 Investing in tech creates competitive advantage. 37:48 Robert’s 30/30 vision: Explained. 40:21 Everything is culture. 41:25 Making a company feel small at heart. 42:47 How culture is built in-person. 43:45 Robert’s biggest team and the reason for success. 45:55 Will price compression happen in Compass? 49:39 The importance of creating homeowner value. 51:17 The stability of Compass’ business model. 52:31 Analyzing Compass’ competition. 57:02 The future of Compass. GET NOTIFIED about upcoming shows: » Subscribe to our YouTube channel here:    / @walkerdunlop   » See upcoming guests on the #WalkerWebcast here: https://www.walkerdunlop.com/webcasts Related webcasts: Tune in on Wednesdays for fresh perspectives about leadership, business, the economy, commercial real estate, and more! #WillyWalker hosts a diverse network of leaders as they share the wisdom that cuts across industry lines. Check out our previous videos: » Full playlist:    • Walker Webcast   Apple Podcasts: https://podcasts.apple.com/us/podcast... Spotify: https://open.spotify.com/show/1z3wDGM... Follow us: » LinkedIn:   / walker-&-dunlop   » Facebook:   / walkerdunlop   » Twitter:   / walkerdunlop   » Instagram:   / walkerdunlop   POSTING POLICY: Please bear in mind that this is a public and professional platform. We’ll do our best to ensure that our postings on this page comply with our standards, which prohibit content that: • is abusive, defamatory, threatening, or obscene • is fraudulent, deceptive, or misleading • violates the copyright, trademark, patent, trade secret, right of privacy, right of publicity, or other intellectual property right of another • contains or links to any virus, worm, Trojan horse, or other forms of malware or harmful code • contains the personal information of others, such as names, addresses, and telephone numbers • violates any law or regulation • is otherwise offensive. We expect users not to post content that violates our standards. We cannot monitor postings or discussions in advance, but we reserve the right to remove any posting that does not meet our standards.