It’s already November, which means we’re heading into Thanksgiving and our Winter Season. In Realtor terms, this is when inventory begins to dry up, and properties that haven’t gone pending are likely to come off the market and reemerge next Spring, with hopefully, better results.
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The personal stories of one Realtor’s battles and triumphs in the highly-competitive Bay Area Real Estate Market, seeking to illuminate and humanize the very real ups-and-downs of homeownership.
Of course, no one has a crystal ball, and things could be decidedly different in 2025 depending on the outcome of the presidential election, the interest rates, supply & demand, and consumer confidence, but for now, the 4th quarter has been surprisingly brisk, and we hope next year brings much of the same . . . .Consumer confidence seems to carry a great deal of weight in my experience. Regardless of the interest rates, if Buyers are worried about their properties losing, rather than gaining value, they’re unlikely to put their hard-earned cash down on a house. The simple fact is we won’t know the health of next year’s market until it arrives.
Moreover, with new rules in place around the bifurcation of commissions, not to mention the insertion of Buyer Representation Agreements that must be signed BEFORE Buyers can step over a threshold, there’s been some significant shifting of the sands with respect to how Agents now practice their craft, AND how both Sellers and Buyers have responded to the changes. So we’re adapting . . . (the jury is still out.)
This includes the understanding that prices have softened in many marketplaces, interest rates that were supposed to come down actually went up, insurance rates tripled or quadrupled in some areas, and there are far fewer offers being submitted come the offer date, which is beginning to feel like a Buyers’ Market. As such, pricing correctly is more critical than ever. Get that wrong, and your home will be twisting in the wind. Remember, your property is worth what a willing and qualified Buyer will pay you for it – and not a penny more.
But on the good news front, the Agents of COMPASS outperformed all other brokerages, according to Robert Refkin, our intrepid CEO and founder (and a remarkable human being beyond that). At the risk of tooting our own horns, here’s what the numbers had to say:
- COMPASS grew 18% faster than the market, powered by Compass Agents closing 55,872 transactions in Q3 2024, an increase of 16.1% year-over-year while the market declined 1.9% for the same period.
- Our national quarterly market share increased to 4.80% during Q3 2024, up from 4.31% in Q3 2023.
- COMPASS was free cash-flow positive in Q3 2024, marking the third quarter in a row and five of the last six quarters of positive free-cash flow.
- COMPASS grew our sales volume by 13.4% year-over-year, delivering $57.7 billion.
- We grew Adjusted EBITDA significantly year-over-year to $52 million in Q3 2024, an improvement of 139% from the same period of the prior year.
- Which is to say, we rock (thus, the photo).
Finally, COMPASS will also announce a new Client Dashboard in 2025 that will allow Buyers and Sellers to track their journey from beginning to end with more agency, input, and inside knowledge. (Transparency is a good thing.)
So if you’re serious about Buying or Selling in the coming months, you’ll want to align with a company that’s beating the odds on all fronts, and continues to grow and improve the industry overall. To quote Martha Stewart, “That’s a good thing.”
How can we help you?
Julie Gardner & Sarah Abel | Compass Realty
Not just Realtors, but consultants in all things house and home, we’re here to educate, explore, examine and refer . . . In short, you may count on us to take care of your home as if it were our own and anyone who knows us, knows we take pretty darn good care of our homes.
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