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Compass this week announced that it is debuting a new network to connect agents who work with people buying secondary properties and vacation homes.
The company calls the network Compass Resort. According to the network’s website, it’ll help agents share referrals, collaborate and “elevate the second home experience for our clients.” The site adds that members of Compass Resort “serve over 30 different second home markets,” and that some “generate as much as 70 percent of their business through referrals from other Compass brokers.”
A statement Compass provided to Inman Tuesday further explains that Compass Resort is “tailored to the needs of agents serving vacation markets and clients seeking second, third, or even fourth homes.” The statement adds that Compass will not just focus on “glamorous” destinations, but also on “smaller feeder markets like the San Juan Islands in Washington and Lake Geneva in Wisconsin.”
Compass is officially announcing the project Wednesday during the company’s annual retreat in Charleston, South Carolina.
The debut of Compass Resort comes as companies across the industry work to diversify their offerings and as conventional home sales have remained sluggish in the face of persistently elevated mortgage rates. Companies have responded to those conditions in a variety of ways, for example by accelerating overseas expansion or evolving their recruiting practices.
For its part, Compass has opted to focus on resources it argues will benefit its agents. The Compass Resort network is one iteration of that concept, but the company also recently announced plans to lean into a private listing network — meaning the firm’s agents should theoretically have access to a growing number of exclusive listings. The brokerage’s advocacy on issues such as Clear Cooperation could also potentially grow resources such as private listings that give its agents an edge.
Compass’ statement on the new second-home network further notes that the project’s launch “is timely as ultra-high-net-worth buyers continue to seek properties beyond luxury hotspots.” The statement further points to the rise of remote and hybrid work as factors driving people “to rethink the concept of ‘home,’ with many now looking for weekend escapes or investment properties.”
Jordie Karlinski
According to the statement, Compass agents Jordie Karlinski, Jack Pearson, Jen O’Hanlon and Steve Springer will lead Compass Resort. O’Hanlon, who works out of Martha’s Vineyard, said in the statement that many higher-end homebuyers see “their second homes as part of their broader wealth portfolio,” with agents acting “more like wealth managers.” Meanwhile, Karlinski — who works in Aspen, Colorado — expressed excitement to better serve that demographic.
“We’re excited to introduce a new level of service for second-home buyers and their agents,” Karlinski said in the statement. “We’ve got the white-glove approach dialed in, but this is really about tailoring that service to this sector’s unique needs and priorities.”
