Robert Reffkin, CEO and founder of Compass, discusses caffeination strategies, how Compass became #1, learnings about building tech, 3 things agents care about most, what makes smart people stupid, sending messages back in time, and culture as a competitive advantage.
Culture is essential for maintaining strong connections and fostering collaboration within a company.
Compass differentiates itself by combining technology with a personal touch to meet the needs of real estate agents.
Deep dives
Challenges in Building and Maintaining Company Culture
Robert Refkin, CEO and founder of Compass, discusses the most challenging aspect of running the company: bringing culture back to pre-COVID levels. He defines culture as the presence of laughter, smiling, and non-work-related conversations in the office. Refkin emphasizes the importance of culture in maintaining a strong connection between employees and fostering collaboration. He also shares the lessons he learned, highlighting that connectivity is more important than productivity and that trust is best built through in-person interactions.
The Importance of High Tech and High Touch in Real Estate
Refkin explains that Compass aims to be both a technology company and a people company, combining high tech and high touch. This unique approach positions Compass to differentiate itself from competitors. Refkin recognizes that the real estate industry benefits from technology but also requires a personal touch. He notes that many other companies are giving up on culture and connection, providing Compass with the opportunity to stand out by prioritizing these aspects.
Building Technology for Real Estate Agents
Refkin shares his insights on building technology for real estate agents. He learned that agents want to learn how to grow their business, not just about technology itself. Therefore, Compass focuses on training agents on how to use technology as a tool to expand their business. Refkin highlights the importance of listening to agents' needs and ideas when developing new technology. He also emphasizes that existing technology in the industry is already robust, and Compass aims to build solutions based on agents' current preferences and behaviors.
The Power of Culture and Community in Real Estate
Refkin reflects on the significance of culture and community within the real estate industry. He notes that Compass views real estate agents as their clients and works to support them in growing their businesses. Refkin also discusses the industry's entrepreneurial nature, the importance of connections, and his own personal journey of searching for community and belonging. He highlights the value of agents' hard work, creativity, and talent, and how Compass strives to be a part of their dream of creating a better life for themselves and their clients.
Robert Reffkin, CEO and founder of Compass, and I discuss caffeination strategies, connectivity > productivity, how Compass became #1, learnings about building tech, 3 things agents care about most, what makes smart people stupid, sending messages back in time, and culture as a competitive advantage.
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