Compass reports 89,000 private listings as it considers joining Open Real Estate

Compass International Holdings reported having 89,000 early listings available on Compass.com, accessible before appearing on public listing portals, according to HousingWire.

CEO Robert Reffkin expressed openness to joining Open Real Estate, a national residential real estate data-sharing initiative founded by four major competitors, aiming to provide fair access to listing data.

Reffkin described the initiative as validating Compass's position over the past two years and welcomed the potential for returning power to homeowners and their agents through a national listing service.

He also noted that in cities without restrictions on public marketing of exclusive office listings, 63% of new Compass listings use a three-phase marketing strategy, with adoption rates exceeding 70% in some areas.

Compass saw a 53.6% annual increase in traffic to its apps and websites during the third quarter, reflecting growing user engagement with its platform.

The company anticipates that as industry restrictions on seller choice are lifted, more listings will start as private exclusives or 'See It First' listings on Compass and its sister sites.