Shortly after Compass publicized its plan to acquire fellow brokerage giant Anywhere Real Estate, the company’s leaders sent emails to its agents and broker/owners, and spoke with investors about the details of the transaction and the benefits it expects to realize once the deal is approved.
In a Sept. 22 letter to agents, Compass CEO Robert Reffkin emphasized the continuing independence of each company and its “brands, platforms, and cultures,” while assuring broker/owners under the @properties Christie’s International Real Estate umbrella — now part of the Compass ecosystem following an earlier acquisition — that “@properties will continue to operate with the same distinct identity we hold today.”
Reffkin also sought to reassure investors during a Monday conference call, touting the industry-shaking move as one that “evolves Compass into a unified operating system for residential real estate” and outlining four beneficial outcomes for the company.
Reffkin and CFO Scott Wahlers addressed potential concerns about the financial implications for the mega-firm, though investors still appeared to be a bit rattled as Compass’ share price fell nearly 16% by the close of trading on Monday.
Read the complete news on the source website - Real Estate News
Author: Amie Fisher
