But he left the storied Wall Street firm in 2012 to start his company. Subscribe to Inman Select for Breaking News and Exclusive Industry Content. During his Thursday appearance on CNBCs Squawk on the Street, Compass CEO Robert Reffkin gave a cautiously optimistic assessment of the real estate market as the industry continues to wade through inflation, rising mortgage rates, and the return to a more normal sales pace. Compass co-founder and CEO Reffkinis the son of an Israeli immigrant who was disowned by her parents when she had a mixed-race baby. Reffkin is African American and Jewish and grew up in Berkeley, California. All Rights Reserved. Agents who speak different languages and can relate to diverse clientele will become increasingly important. Robert Reffkin (1979- ) - BlackPast.org In a LinkedIn post Thursday after his company went public on the New York Stock Exchange, Reffkin said, "I started Compass because of my mom, Ruth, a single mom who embodies the entrepreneurial spirit.". As of His mother was Israeli and his father was (Courtesy In a surprise twist, Compass CEO Robert Reffkin revealed Tuesday that his company is exploring the possibility of franchising as it works toward profitability. 11 tools for neophytes, 23 video content ideas real estate agents can't afford to miss, New-home sales soar to 1-year high in March as purchases leap 9.6%. Inman has reached out to Compass for more details and will update this story with any information the company provides. Compass dashboard shows neighborhood real estate data and a Pinterest-like app for organizing home listings. Get the week's leading headlines delivered straight to your inbox. Breaking news as it happens. Some of the most talented and successful agents Ive met are those whove seen the industry through multiple housing downturns and can leverage that experience, Reffkin wrote. Thursday appearance on CNBCs Squawk on the Street,, market back in line with historical norms, havent been able to make that same mental shift, stratospheric for-sale and rental price growth, asking their employees to come back to work, Compass CEO Robert Reffkin calls home offices 'the killer of culture', Real estate leaders see signs of market thawing, NYC rent soars to all-time high and it's not done yet, analysts warn, The Great Reshuffling is more complex than we realized, Troubled real estate eyed as JP Morgan takes over First Republic, 'Trailblazer and icon': Real estate reacts to Sherry Chris' retirement, What agents need to know as the complex mortgage fee hike kicks in, Totally not tech-savvy? Compass recruited her with promises of transformative technology and generous commissions, Bloomberg reported. The new funding is a sign that Compass is headed for a public offering, The Real Deal reported. Sign up for Individual Select membership today. It looks like youre already a Select Member! Today, the firm has franchises spread out across multiple U.S. regions. Reffkin started his first business when he was just 15 years old, according to an article from Columbia College Today. Reffkin had previously served as the chief of staff to the president of Goldman Sachs and worked in the White House. How Robert Reffkin went from being a C-average student to the Forgot your username? CEO Robert Reffkin floated the idea of a franchise brand during an earnings call Tuesday, describing it as a 'more profitable' method of growing the business. His father was an African American man from Louisiana, who already had two children, and shortly after Reffkin was born abandoned him and his mother. Now her son is the CEO of Compass, a New York real estate tech startup that just scored a $1.8 billion valuation. Robert Reffkin grew up in Berkeley, CA, with his mom, who is now a Compass agent.

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