therealdeal.com – For investors in Compass, there are no shortcuts to a payday.
The brokerage is looking to raise about $50 million at a $1.3 billion valuation, which would make it the most valuable residential brokerage in the country by a distance — at least on paper. But according to the firm’s CEO Robert Reffkin, profitability isn’t a pressing goal, and investors shouldn’t expect to reap rewards anytime soon.
“They’re making an investment alongside the management team,” Reffkin said. “The luxury of our capital base is that we can think long-term.”
Categories: Real Estate