CLICK HERE TO READ THE FULL ARTICLE. From Inman News: MoxiWorks CEO claims Compass agents become 16% less productive when they move to the company.
MoxiWorks, an open real estate tech platform funded by two of the top three regional brands in the country, took a sharp jab at Compass this week, claiming its agents report a 16-percent decline in productivity shortly after moving to the New York City-based national brokerage.
The charge comes on the heels of a June CNBC interview with Robert Reffkin, in which the Compass CEO made several claims that drew ire from many in the real estate industry, including a bold statement that agents at the tech-forward brokerage net a 24.9-percent boost in transactions in their first year.
“We’re the only company that is empowering agents,” Reffkin said during the interview. “Our only customer is the agent.”
The remark drew the suspicion of MoxieWorks Chief Executive York Baur, who promptly dug into the first six months of Compass’ agent productivity.
MoxiWork’s data scientist, according to a spokesperson for the company, took data from all listings sold on or after Jan. 1, 2016. The analysis only included agents who stayed with Compass at least six months and had “substantial” transaction records before or during their Compass tenure, but the company did not elaborate on what it considered “substantial.” The same six-month period was used year-over-year to adjust for seasonal market shifts.