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Reffkin Says Seller Choice Is Expanding Quickly and Should Hit 90% of MLSs by End of Year
['Claudia Larsen', 'Claudia Larsen Is An Associate Editor For Rismedia.']
RISMedia
In presenting to investors, Reffkin said that “the trend for seller choice is moving quickly,” backing up his point with data from Chicago—where Compass has “the most Coming Soons of any market.”
In Chicago, Reffkin said sessions on Compass.com were up 111% year-over-year, beating out the previously average growth of 34% year-over-year.
Reffkin said that seller choice options are already becoming the “norm,” as currently 60% of Compass’s markets allow its three-phased marketing plan within their rules.
Reffkin also referred to the current MLS system as one of monopolies, as in many markets across the country agents only have one choice of MLS.
Adjusted EBITDA clocked in at $363 million, well up from $61 million last quarter and $125 million last year.