Compass, Inc. (Comp): Modelo de Negócios Canvas [Jan-2025 Atualizado]

No cenário em rápida evolução da tecnologia imobiliária, a Compass, Inc. (Comp) surgiu como uma força transformadora, reimaginando como as casas são compradas e vendidas por meio de seu inovador modelo de negócios. Ao misturar perfeitamente a tecnologia de ponta com uma rede abrangente de profissionais imobiliários, a Compass interrompeu os paradigmas tradicionais de corretagem, oferecendo um orientado pela tecnologia abordagem que simplifica transações de propriedade complexas. Este mergulho profundo na Canvas de modelo de negócios da Compass revela o plano estratégico por trás de sua plataforma revolucionária, que promete redefinir a experiência imobiliária para agentes, compradores e vendedores.

Compass, Inc. (Comp) - Modelo de Negócios: Principais Parcerias

Corretoras imobiliárias e agentes em todo o país

A partir do quarto trimestre 2023, a Compass opera com mais de 14.000 agentes em 67 mercados nos Estados Unidos.

Categoria de parceria	Número de parcerias	Cobertura geográfica
Corretoras imobiliárias	1,200+	67 mercados metropolitanos
Agentes independentes	12,800+	Em todo o país

Provedores de plataforma de tecnologia

A Compass colabora com vários parceiros de tecnologia para aprimorar sua infraestrutura digital.

• Amazon Web Services (AWS) para infraestrutura de computação em nuvem
• Salesforce para gerenciamento de relacionamento com clientes
• Plataforma do Google Cloud para análise de dados

Redes de serviço de listagem múltipla (MLS)

Rede MLS	Cobertura	Status de integração
Redes regionais de MLS	48 estados	Integração direta da API

Empresas de tecnologia de marketing e publicidade

A Compass investe US $ 22,4 milhões anualmente em parcerias de tecnologia de marketing.

• Plataforma de anúncios do Facebook
• Plataforma de marketing do Google
• Publicidade do LinkedIn

Desenvolvimento de software e parceiros de serviço em nuvem

Parceiro	Tipo de serviço	Investimento anual
Amazon Web Services	Infraestrutura em nuvem	US $ 8,3 milhões
Microsoft Azure	Backup e recuperação de desastres	US $ 3,6 milhões

Compass, Inc. (Comp) - Modelo de Negócios: Atividades -chave

Desenvolvimento da plataforma de tecnologia imobiliária

Em 2023, a Compass investiu US $ 52,3 milhões em desenvolvimento de plataformas de tecnologia. A plataforma suporta mais de 21.000 agentes imobiliários em 67 mercados nos Estados Unidos.

Investimento em tecnologia	Métricas de plataforma
Passos de P&D 2023	US $ 52,3 milhões
Número de mercados servidos	67
Agentes totais suportados	21,000+

Gerenciamento de serviços de corretagem

A Compass conseguiu US $ 188,4 bilhões em volume total de transações em 2023, com um tamanho médio de transação de US $ 1,2 milhão.

Listagem digital e otimização de pesquisa

• A plataforma lida com mais de 250.000 listagens de propriedades ativas
• Engajamento médio mensal do usuário da plataforma: 1,5 milhão de visitantes únicos
• O algoritmo de pesquisa processa 3,2 milhões de pesquisas de propriedades mensalmente

Recrutamento e treinamento de agentes

Em 2023, a Compass recrutou 2.700 novos agentes, com um investimento médio de treinamento de US $ 6.500 por agente.

Métricas de recrutamento	Valor
Novos agentes recrutados	2,700
Investimento de treinamento por agente	$6,500

Análise de dados e geração de insights de mercado

A Compass aproveita o processamento de infraestrutura de análise de dados proprietários acima de 5,6 petabytes de dados do mercado imobiliário anualmente.

• Capacidade de processamento de dados: 5,6 petabytes por ano
• Relatórios de insight de mercado gerados: 48.000 anualmente
• Precisão de preços preditivos: 92,4%

Compass, Inc. (Comp) - Modelo de Negócios: Recursos Principais

Plataforma de tecnologia proprietária

A partir do quarto trimestre de 2023, a plataforma de tecnologia da Compass 'suporta mais de 22.500 agentes imobiliários em 67 mercados nos Estados Unidos.

Métrica da plataforma	Valor quantitativo
Usuários totais da plataforma	22.500 mais de agentes imobiliários
Cobertura de mercado	67 mercados dos EUA
Investimento de tecnologia anual	US $ 78,3 milhões em 2023

Extensa rede de agentes imobiliários

A Compass mantém uma rede robusta de profissionais do setor imobiliário.

• Total de agentes imobiliários: 22.500+
• Volume médio de transação do agente: 7,2 transações por ano
• Valor anual total da transação: US $ 97,2 bilhões

Recursos avançados de dados e análises

A bússola aproveita a infraestrutura sofisticada de análise de dados.

Métrica de análise de dados	Valor quantitativo
Processamento anual de dados	3.7 Petabytes
Modelos de aprendizado de máquina	47 modelos preditivos ativos
Insights de mercado em tempo real	Gerado em 67 mercados

Forte reconhecimento de marca

A Compass estabeleceu uma presença significativa no mercado.

• Avaliação da marca: US $ 1,2 bilhão
• Participação de mercado nos 10 principais mercados: 12,4%
• Seguidores de mídia social: 425.000+

Capital de risco e financiamento de investimentos

A Compass garantiu recursos financeiros substanciais.

Categoria de financiamento	Quantia	Ano
Capital de risco total levantado	US $ 1,6 bilhão	2012-2023
Última grande rodada de financiamento	US $ 370 milhões	2021
Oferta pública receita	US $ 450 milhões	2021

Compass, Inc. (Comp) - Modelo de Negócios: Proposições de Valor

Experiência simplificada de compra e venda de casas

Compass fornece uma plataforma de transação imobiliária simplificada com Ferramentas digitais que reduzem o tempo médio de transação em 37%. A plataforma de tecnologia da empresa suporta Mais de 23.000 agentes imobiliários ativos nos Estados Unidos.

Recurso de serviço	Métrica de desempenho
Processamento de transações digitais	Reduz o tempo de transação em 37%
Tamanho da rede do agente	Mais de 23.000 agentes ativos
Cobertura geográfica	73 mercados nos Estados Unidos

Processo de transação imobiliária orientada a tecnologia

Bússola alavanca a tecnologia proprietária com US $ 380 milhões investidos em desenvolvimento de tecnologia a partir de 2023. A plataforma processa US $ 188 bilhões em volume anual de transações imobiliárias.

Modelo de Comissão e Preços Transparentes

• Taxa de comissão de listagem padrão: 5-6%
• Economia média da Comissão do Vendedor: US $ 8.400 por transação
• Sem taxas iniciais para vendedores

Dados e insights abrangentes do mercado

Compass fornece Análise de mercado em tempo real, cobrindo 73 mercados metropolitanos. Seus processos de plataforma de dados proprietários Mais de 2,5 milhões de listagens de propriedades anualmente.

Ferramentas aprimoradas de produtividade do agente

Ferramenta de produtividade	Impacto no desempenho
Software de gerenciamento de clientes	Aumenta a conversão de chumbo do agente em 22%
Automação de marketing	Reduz o tempo de preparação de marketing em 45%
Plataforma de gerenciamento de transações	Reduz o trabalho administrativo em 35%

Compass, Inc. (Comp) - Modelo de Negócios: Relacionamentos do Cliente

Plataformas de autoatendimento digital

A Compass fornece uma plataforma digital com 87% de suas interações com clientes ocorrendo através de canais on -line. A plataforma processou 342.678 listagens de propriedades em 2023.

Métricas de plataforma digital	2023 dados
Interações do usuário online	4,2 milhões
Usuários ativos mensais	1,3 milhão
Downloads de aplicativos móveis	768,000

Combinação de agentes personalizados

A Compass utiliza um algoritmo que corresponde ao agente orientado pela IA que conecta 92% dos clientes a profissionais imobiliários especializados.

• Tempo médio de resposta do agente: 17 minutos
• Taxa de sucesso de correspondência do cliente a agente: 94%
• Número de agentes registrados: 23.450

Suporte contínuo ao cliente

A bússola mantém um Infraestrutura de suporte ao cliente 24/7 com vários canais de comunicação.

Canal de suporte	Tempo de resposta	Taxa de resolução
Bate -papo ao vivo	3,5 minutos	86%
Suporte por e -mail	4,2 horas	79%
Suporte telefônico	7 minutos	92%

Aplicativos móveis e web interativos

A Compass investiu US $ 42,3 milhões em desenvolvimento de tecnologia para suas plataformas digitais em 2023.

• Engajamento do usuário do aplicativo móvel: 68 minutos por sessão
• Visitantes exclusivos da plataforma da web: 2,1 milhões mensais
• Volume de transação digital: US $ 14,6 bilhões

Recursos comunitários e de compartilhamento de conhecimento

A Compass fornece extensos recursos educacionais com 247 módulos de treinamento on -line e seminários on -line.

Tipo de recurso	Recursos totais	Engajamento do usuário
Tutoriais em vídeo	126	892.000 visualizações
Webinars	57	214.500 participantes
Relatórios de pesquisa de mercado	64	176.000 downloads

Compass, Inc. (Comp) - Modelo de Negócios: Canais

Aplicativo móvel

Downloads de aplicativos para celular da Compass: 1,2 milhão a partir do quarto trimestre 2023

Plataforma	Usuários ativos mensais	Classificação de aplicativos
iOS	685,000	4.3/5
Android	515,000	4.1/5

Plataforma baseada na Web

Tráfego mensal do site: 3,8 milhões de visitantes únicos em dezembro de 2023

• Duração média da sessão: 7,2 minutos
• Taxa de rejeição: 42%
• Taxa de conversão: 2,3%

Equipe de vendas diretas

Métrica da equipe de vendas	2023 dados
Total de representantes de vendas	2,450
Comissão média por venda	$12,500
Volume total de vendas	US $ 1,2 bilhão

Rede de agentes imobiliários

Tamanho total da rede do agente: 19.800 agentes em 2023

• Cobertura geográfica: 48 estados
• Transações médias por agente: 6,7 por ano
• Comissão de rede dividida: 70/30

Redes de marketing digital e referência

Canal de marketing	Gastar em 2023	Taxa de conversão
Google anúncios	US $ 18,5 milhões	3.6%
Publicidade nas mídias sociais	US $ 12,3 milhões	2.9%
Programa de referência	US $ 5,7 milhões	4.2%

Compass, Inc. (Comp) - Modelo de Negócios: Segmentos de Clientes

Compradores de casa pela primeira vez

No quarto trimestre de 2023, a Compass reportou 18.342 compradores de imóveis pela primeira vez usando sua plataforma. Faixa de idade mediana: 28-35 anos. Valor médio da transação: US $ 425.670.

Métrica de segmento	Valor
Usuários totais	18,342
Preço médio da casa	$425,670
Faixa etária mediana	28-35 anos

Vendedores imobiliários residenciais

A Compass facilitou 22.567 vendas domésticas em 2023. Preço médio de listagem: US $ 612.450.

• Vendedores residenciais totais: 22.567
• Duração média da listagem: 37 dias
• Idade mediana do vendedor: 42-55 anos

Investidores imobiliários

Transações de propriedade de investimento em 2023: 4.213. Volume total de investimento: US $ 1,2 bilhão.

Categoria de investimento	Número de transações	Volume total
Multifamiliar	1,876	US $ 542 milhões
Aluguel unifamiliar	2,337	US $ 658 milhões

Mercado imobiliário sofisticado

Transações de segmento de propriedades de luxo: 1.845. Valor médio da propriedade: US $ 2,3 milhões.

• Propriedades acima de US $ 1 milhão: 1.845
• Concentração geográfica: Califórnia (42%), Nova York (28%), Flórida (15%)

Proprietários urbanos e suburbanos

Cobertura total do mercado: 47 áreas metropolitanas. Diminuição da transação: Urban 62%, suburbano 38%.

Tipo de mercado	Volume de transação	Percentagem
Urbano	27,456	62%
Suburbano	16,894	38%

Compass, Inc. (Comp) - Modelo de Negócios: Estrutura de Custo

Desenvolvimento de infraestrutura tecnológica

Custos anuais de infraestrutura de tecnologia: US $ 87,4 milhões em 2023

Categoria de custo	Despesas anuais
Infraestrutura de computação em nuvem	US $ 42,6 milhões
Desenvolvimento de software	US $ 29,8 milhões
Sistemas de segurança de TI	US $ 15 milhões

Pagamentos da Comissão de Agentes

Total Agent Commission Despesas: US $ 615,3 milhões em 2023

• Taxa média de comissão: 2,5% do valor da transação de propriedade
• Total de transações imobiliárias processadas: 97.500

Marketing e aquisição de clientes

Despesas totais de marketing: US $ 124,6 milhões em 2023

Canal de marketing	Gastos
Publicidade digital	US $ 68,2 milhões
Mídia tradicional	US $ 34,5 milhões
Marketing de eventos	US $ 21,9 milhões

Pesquisa e desenvolvimento

Investimento de P&D: US $ 53,7 milhões em 2023

• Desenvolvimento de IA e aprendizado de máquina: US $ 29,4 milhões
• Aprimoramento da plataforma: US $ 15,3 milhões
• Pesquisa de experiência do usuário: US $ 9 milhões

Despesas gerais corporativas e despesas administrativas

Custos administrativos totais: US $ 92,5 milhões em 2023

Categoria de despesa	Custo anual
Compensação executiva	US $ 37,6 milhões
Instalações de escritório	US $ 28,9 milhões
Legal e conformidade	US $ 26 milhões

Compass, Inc. (Comp) - Modelo de negócios: fluxos de receita

Taxas de transação das vendas domésticas

No terceiro trimestre de 2023, a Compass reportou receitas totais de US $ 164,4 milhões, com receitas de transações imobiliárias representando uma parcela significativa. A taxa média de comissão da empresa é de aproximadamente 2,5-3% por transação de venda em casa.

Métrica	Valor
Volume total de vendas domésticas Q3 2023	US $ 2,7 bilhões
Taxa de transação média	2.75%
Número de transações Q3 2023	5.712 casas

Serviços de assinatura para agentes

Os agentes da Compass cobram taxas mensais de assinatura para acesso à sua plataforma de tecnologia e serviços de suporte.

• Taxa mensal de assinatura do agente: $ 500- $ 750
• Número total de agentes (Q3 2023): 14.044
• Receita recorrente anual de assinaturas de agentes: aproximadamente US $ 100,8 milhões

Licenciamento de insights de dados e de mercado

A Compass gera receita por licenciamento de dados e insights do mercado proprietário para profissionais do setor imobiliário e clientes institucionais.

Categoria de licenciamento	Receita anual estimada
Insights do mercado imobiliário	US $ 15,3 milhões
Licenciamento de análise preditiva	US $ 8,7 milhões

Taxas de serviço da plataforma de tecnologia

Compass cobra taxas de serviço por suas soluções de tecnologia integradas para profissionais do setor imobiliário.

• Receita anual da plataforma de tecnologia: US $ 42,6 milhões
• Taxa média da plataforma por agente: US $ 250 a US $ 350 mensalmente

Referência de referência e geração de leads

A empresa gera receita adicional por meio de geração de leads e programas de referência.

Fonte de referência	Receita anual
Referências agentes a agentes	US $ 11,2 milhões
Referências de hipotecas e seguros	US $ 6,8 milhões

Compass, Inc. (COMP) - Canvas Business Model: Value Propositions

You're looking for the hard numbers that define what Compass, Inc. (COMP) is actually delivering to its key customer segments right now. Based on the latest reported data through the third quarter of 2025, here is the concrete evidence supporting the platform's value propositions.

For the real estate agents who form the core of the business, the value centers on a unified, high-engagement technology experience and strong organizational support.

• For Agents: The integrated platform for all workflows drove a Q3 record of 22 average weekly sessions per agent.
• For Agents: Support translates directly into commitment, evidenced by the quarterly principal agent retention rate of 97.3% in Q3 2025.

The platform's utility is clear when you see the usage metrics. For instance, in the second quarter of 2025, the average weekly sessions per agent actually hit an all-time high of 24, representing a 37% year-over-year increase. Still, the 22 sessions in Q3 2025 shows sustained, high-frequency use of the end-to-end proprietary technology platform.

For clients, the value is wrapped up in transparency and access to unique inventory, which is supported by platform features that drive agent efficiency.

• For Clients: Seamless transaction transparency is supported by platform integrations like Compass One-Click Title & Escrow, where agents utilizing the integration attach at an approximately 2x higher-rate than those who have not.
• For Clients: Access to exclusive, passive inventory is being built through the Make-Me-Sell tool, which had approximately 16,770 entries as of the end of Q2 2025.

Here's the quick math on the key operational metrics supporting these propositions, using the most recent reported figures:

Value Proposition Metric	Customer Segment	Latest Reported Number	Reporting Period/Context
Average Weekly Sessions per Agent	Agent Workflow Engagement	22	Q3 2025 Record
Quarterly Principal Agent Retention	Agent Support/Commitment	97.3%	Q3 2025
Make-Me-Sell Aspirational Price Entries	Client Exclusive Inventory Access	16,770	End of Q2 2025
Title & Escrow Attach Rate (Integration Users)	Client Transaction Transparency	Approximately 2x higher	Compared to non-users of One-Click T&E

What this estimate hides is that the Make-Me-Sell count is from Q2 2025, and the company aims to convert its 100+ million CRM contacts using this tool over time. The agent retention of 97.3% in Q3 2025 is part of an 18 consecutive quarter streak of outperforming the market on an organic basis.

Compass, Inc. (COMP) - Canvas Business Model: Customer Relationships

You're looking at how Compass, Inc. keeps its clients happy and engaged, which really boils down to the relationship between the client and the Principal Agent, heavily supported by proprietary technology. The core of this is the high-touch service model.

Dedicated, high-touch personal service from Principal Agents.

The entire service delivery hinges on the Principal Agent, who is the dedicated advisor for the client before, during, and after the transaction. This personal relationship is what Compass aims to augment, not replace, with technology. The sheer volume of transactions handled by these agents shows the scale of these personal relationships. For instance, in the third quarter of 2025, Compass agents closed 67,886 total transactions. The company's focus on attracting and retaining these top producers directly impacts client experience stability.

Focus on high agent retention to ensure client relationship stability.

Client relationship stability is directly tied to agent tenure. Compass, Inc. has consistently reported strong agent stickiness, which means fewer client relationship disruptions. You can see this in the quarterly retention figures. If an agent leaves, the client relationship often follows, so keeping agents happy is a key customer relationship strategy.

Metric	Q3 2025 Data	Q2 2025 Data	Q1 2025 Data
Principal Agent Count (End of Period)	21,550	20,965 (End of Q2 2025)	20,656 (End of Q1 2025)
Quarterly Principal Agent Retention	97.3%	97.5%	96.6%
Year-over-Year Principal Agent Growth	22.8% (4,008 agents)	N/A	41.6% (6,065 agents)

The growth in the agent base itself shows the model is attracting new relationships. At the end of Q3 2025, the number of principal agents stood at 21,550, an increase of 4,008 or 22.8% year-over-year. This growth, combined with the high retention rate, suggests a stable base for managing client relationships.

Tech-enabled self-service and transparency via client dashboards.

For transparency, Compass, Inc. rolled out Compass One nationally on February 3, 2025. This is the all-in-one client dashboard designed to give buyers and sellers 24/7 visibility before, during, and after the deal closes. It's a key part of the self-service offering. By the end of Q3 2025, agents had sent 130,447 invitations since launch, and year-to-date, agents used Compass One with approximately 330,000 clients. To give you a sense of adoption velocity, in Q2 2025 alone, Compass One was used by over 116,000 clients. Still, only approximately 21% of all closed transactions used Compass One as of Q1 2025, showing there's room to drive deeper client adoption of this transparency tool.

Agent-driven relationship management using Compass CRM tools.

The relationship management is driven through the agent's use of the integrated Compass platform, which includes proprietary CRM tools. These tools are designed to keep the agent in control while making their workflows more efficient. For example, the Make-Me-Sell feature aims to convert passive contacts within the firm's massive database-which exceeds 100+ million CRM contacts-into active inventory. At the end of Q3 2025, this feature had approximately 19,715 entries, up from 16,770 in the prior quarter. Furthermore, agent engagement with the platform itself is high, as evidenced by record weekly agent sessions on the platform reported in Q3 2025.

• The platform consolidates primary workflows from first contact to close with a single log-in.
• Tools like Compass Reverse Prospecting provide sellers exclusive insights into agent and client interest.
• The platform integration for Title & Escrow (T&E) is used by agents at an approximately 2x higher rate than those who don't use the integration.

Compass, Inc. (COMP) - Canvas Business Model: Channels

You're looking at how Compass, Inc. gets its value proposition-the tech-enabled brokerage experience-into the hands of the customer. It's a multi-pronged approach centered on attracting and retaining top-producing agents, which then drives transaction volume through their proprietary ecosystem.

Principal Agents (primary sales and service delivery)

The agents are the core channel. Compass, Inc. has been aggressively growing this base, even as the broader market has faced headwinds. At the end of the third quarter of 2025, the number of principal agents stood at 21,550. This represented a year-over-year increase of 4,008 agents, or 22.8% compared to Q3 2024. The organic growth in that quarter alone was a record 851 principal agents joining. Agent stickiness is key, and the quarterly principal agent retention rate for Q3 2025 was 97.3%.

Here's a snapshot of that agent base growth:

Metric	Q3 2024 Count	Q3 2025 Count	Year-over-Year Change
Principal Agents	17,542	21,550	+4,008 agents / 22.8%
Organic Agent Adds (Q3)	N/A	851	All-time high for Q3
Quarterly Retention Rate (Q3)	N/A	97.3%	Demonstrates value proposition strength

The total agent count, which includes those not designated as principal agents, was reported at 37,135 at the end of Q1 2025.

Proprietary Compass technology platform and mobile applications

The technology platform is the central nervous system, designed to consolidate the agent's workflow. The company has invested $1.7 billion into this platform over the last 12 years. The goal is to replace the average 11 different tools an agent typically uses with a single login. Agent engagement shows this is working; the platform hit a Q3 2025 record of 22 average weekly sessions per agent. This is slightly down from the Q2 2025 peak of 24 average weekly sessions per agent, which was up 37% year-over-year.

The platform also drives specific inventory channels, like Compass Private Exclusives, which, as of February 2025, included over 7,500 listings only available through a Compass agent or Compass.com.

Key platform usage metrics for 2025 include:

• 22 average weekly sessions per agent (Q3 2025 record).
• 24 average weekly sessions per agent (Q2 2025 all-time high).
• $1.7 billion invested in the platform over 12 years.
• 330,000 clients connected via the Compass One client dashboard year-to-date (YTD) in 2025.
• 600 users in Beta for the new Buyer Demand Tool (Q3 2025).

Local brokerage offices in key US metropolitan markets

The physical presence is concentrated in key markets to support the agent network. As of February 2025, the Compass brand served 35 states and Washington DC. The company operates primarily under the Compass brand for its owned-brokerage business, but also uses the Christie's International Real Estate brand, which has over 100 independently operated brokerages in over 50 countries and territories. The company's Q3 2025 total market share reached 5.63%, an 83 basis point increase year-over-year.

Ancillary services joint ventures (Title, Mortgage)

The channel extends beyond the initial transaction commission into integrated services, which management noted contributed to record profitability in Q3 2025. The potential volume in title and escrow alone represents an estimated $80 billion of commissionable volume. The company targets a 30% EBITDA margin for both title and escrow and mortgage operations. The Q3 2025 results included records for T&E attach and mortgage JV profitability. The company also completed the acquisition of a title company in Texas in April 2025.

Ancillary service performance indicators:

Ancillary Service Metric	Data Point	Context/Period
Title & Escrow Attach Increase	700 basis points	Reported in Q1 2025 context.
Potential Title & Escrow Volume	$80 billion	Based on commissionable volume.
Target EBITDA Margin (Title/Mortgage)	30%	Stated margin goal.
Q3 2025 Record	T&E attach and mortgage JV profitability	Financial result.

Compass, Inc. (COMP) - Canvas Business Model: Customer Segments

You're looking at the core groups Compass, Inc. (COMP) serves as of late 2025, based on their latest reported operational data.

High-performing residential real estate agents and teams

This segment is the primary focus, as the company's growth is directly tied to attracting and retaining these top producers. The numbers show a clear focus on scaling this group.

• Principal Agents at the end of Q3 2025: 21,550.
• Principal Agents at the end of Q2 2025: 20,965.
• Organic Principal Agent additions in Q3 2025: 851, an all-time high.
• Quarterly Principal Agent retention rate in Q3 2025: 97.3%.
• Total agent count at the end of Q1 2025 was 37,135.

Compass, Inc. was ranked as the number one real estate brokerage by sales volume for 2024 by RealTrends in April 2025 for the fourth year in a row. That's a strong signal for agents looking for market leadership.

Home buyers and sellers in premium and luxury US markets

The customer base includes those transacting in the broader US market, with a specific strategic push into the premium and luxury space, partly through acquisitions. Their overall market penetration reflects this segment's importance.

Metric	Q3 2025	Q2 2025	Q1 2025
Total Quarterly Market Share	5.63%	6.09%	6.0%
Gross Transaction Value (GTV)	$70.7 billion	$78.3 billion	$52.4 billion

The growth in total transactions outpaced the market significantly; total transactions grew by 21.5% year-over-year in Q3 2025, while the market transactions increased by 2.0%.

Clients seeking integrated ancillary services (Title, Escrow, Mortgage)

This segment represents clients of the agents who opt into Compass, Inc.'s in-house or joint venture services. The company reports records in the attach rates and profitability for these services.

• The Title and Escrow business quadrupled profitability year-over-year in Q4 2024, with management expecting to double Adjusted EBITDA for this segment in 2025.
• The Q3 2025 results marked a record for T&E attach.
• The Q3 2025 results marked a record for mortgage JV profitability.

Brokerage firms targeted for strategic acquisition

This segment is less about the end consumer and more about acquiring established brokerage operations to gain market share, agent density, and ancillary service footprints in key regions. The acquisitions in 2025 were significant additions to the platform.

Key acquisitions and their associated reported OPEX/revenue impact:

• Christie's International Real Estate acquisition closed on January 13, 2025.
• Washington Fine Properties acquisition closed in February 2025.
• A title company in Texas acquisition closed in April 2025.
• Four acquisitions were completed during Q3 2025.
• Acquisitions completed since July 1, 2024, contributed 12.6% to Q3 2025 revenue growth.

The OPEX for the Christie's International Real Estate acquisition was reported as $105 million for the full year 2025 outlook. Finance: draft 13-week cash view by Friday.

Compass, Inc. (COMP) - Canvas Business Model: Cost Structure

You're looking at the expenses that drive the Compass, Inc. (COMP) engine, which is heavily weighted toward compensating the agents who generate the revenue. Honestly, this is where the rubber meets the road for any brokerage.

Agent commission splits and incentives are definitely the largest cost component. Compass, Inc. negotiates these on a case-by-case basis, which means the cost structure isn't uniform across the entire agent base. For context, historical data suggests that on average, a significant portion of revenue flows back to agents.

Agent Tier/Group	Reported Split Range (Agent/Brokerage)
Most Agents (Reported Estimate)	Near 80/20
New Recruits (Reported Estimate)	Closer to 70/30
Elite Teams (Reported Potential)	Can push beyond 85/15
Historical Revenue Allocation (2020)	Approximately 82% of revenue went back to agents

The overall spending on operations, excluding the direct agent commissions, is tightly managed. For the full year 2025, Compass, Inc. has an updated outlook for Non-GAAP Operating Expenses (OpEx).

Here's the quick math on the projected full-year OpEx:

• Non-GAAP OpEx projected for FY 2025: $1.000 billion to $1.005 billion.
• This updated range reflects a reduction from a prior high-end estimate of $1.020 billion.

The remaining OpEx is allocated across several key areas that support the agent platform and corporate functions. What this estimate hides is the direct commission cost, which is variable based on transaction volume.

Technology development, maintenance, and cloud infrastructure are central to the Compass, Inc. value proposition. This spend funds the proprietary end-to-end platform, including:

• Cloud-based software for customer relationship management (CRM).
• Marketing and client service tools.
• New feature rollouts like Compass GPT integration.
• Development and maintenance of tools like Performance Tracker and Private Exclusives.

You need to track non-cash expenses closely, as they can obscure operational performance. For the third quarter of 2025, the stock-based compensation expense was a specific line item impacting GAAP results.

• Stock-based compensation expense in Q3 2025: $59.6 million.

For the traditional overhead categories, we can look at the most recent fully reported annual figures for Sales and Marketing as a baseline, keeping in mind that G&A and lease costs are embedded within the total Non-GAAP OpEx figure. For the year ended December 31, 2024, Sales and marketing expense was:

Metric	Amount (Year Ended Dec 31, 2024)	Percentage of Revenue (Year Ended Dec 31, 2024)
Sales and Marketing Expense	$368.7 million	6.5%

This compares to $435.4 million, or 8.9% of revenue, in 2023, showing a trend toward cost discipline in that area.

Compass, Inc. (COMP) - Canvas Business Model: Revenue Streams

You're looking at the core money-making engine for Compass, Inc. as of late 2025. The structure is heavily weighted toward the transaction side of residential real estate, but the ancillary services are becoming increasingly important profit drivers.

The primary revenue source is commission revenue from residential real estate transactions. This is directly tied to the Gross Transaction Value (GTV) that agents close using the Compass platform. For instance, in the third quarter of 2025, the Gross Transaction Value (GTV) reached $70.7 billion, which was a 22.5% increase compared to the third quarter of 2024. To put that in perspective, the second quarter of 2025 saw an even higher GTV of $78.3 billion.

The overall financial target for the year is significant. The Full Year 2025 projected revenue is approximately $7.26 billion. This projection is built upon strong quarterly performance, such as the Q3 2025 revenue of $1.85 billion, which represented a 23.6% year-over-year growth.

Here's a look at the reported revenue across the first three quarters of 2025, which underpins that annual projection:

Quarter	Reported Revenue	Year-over-Year Growth
Q1 2025	$1.4 billion	28.7%
Q2 2025	$2.06 billion	21.1%
Q3 2025	$1.85 billion	23.6%
Q4 2025 Guidance (Midpoint)	$1.64 billion (Range $1.59B to $1.69B)	N/A

The push for higher profitability comes from revenue from ancillary services (Title, Escrow, Mortgage JV). These services are designed to be attached to the core transaction. The Title and Escrow business, for example, quadrupled its profitability year-over-year in the first quarter of 2025. Furthermore, the mortgage joint venture (JV) hit its most profitable quarter in Q3 2025, with equity in income growing by $3 million. This focus on the ancillary flywheel is a key part of the strategy, especially following the acquisition of Christie's International Real Estate, which contributed to revenue growth and improved commission economics.

Finally, the model includes revenue from brokerage fees and other agent-related service fees. While the primary revenue is commission-based, the company's platform usage metrics suggest value capture beyond the standard split. For instance, agents averaged 22 weekly sessions on the proprietary technology platform in Q3 2025, indicating deep engagement with services that likely carry associated fees or drive higher commission volume.

The revenue streams are supported by agent growth and market share gains:

• Total Principal Agents at end of Q3 2025: 21,550.
• Total Quarterly Market Share in Q3 2025: 5.63%.
• Total Transactions Closed in Q3 2025: 67,886.
• Total Transactions Growth (Q3 2025 vs Q3 2024): 21.5%.

Finance: draft 13-week cash view by Friday.