Profitability has been a sore spot for Robert Reffkin and his brokerage, Compass. In media interviews and on earnings calls, Reffkin is forced to defend Compass’s mounting losses and the underlying strength of its business – in 2022, Compass recorded a net loss of $601 million despite raking in revenue – up 6% to $6.02 billion. 

Reffkin doesn’t shy away from the fact that the brokerage has received billions in venture capital and debt. The funding has allowed the firm to grow exponentially, de-throning residential real estate’s two biggest brokerages—Anywhere Real Estate and Berkshire details ⇒