Compass Says It's Well-Positioned to Face Real Estate Industry Change.

REAL estate business; CONTRACTS; BUSINESS revenue

Comments by Chief Executive Officer Robert Reffkin on Monday were the first by Compass since a jury in Missouri awarded $1.8 billion to home sellers who alleged that the industry had conspired to keep agent commissions high. (Bloomberg) -- Real estate brokerage Compass Inc. said it's well-positioned to negotiate any changes in the industry that may result from legal challenges to how agents are paid. Along with a class-action suit in Illinois and a potential antitrust investigation by the US Department of Justice, the actions are likely to compel real estate companies to reinvent how they earn revenue from buyers and sellers. [Extracted from the article]

Copyright of Bloomberg.com is the property of Bloomberg, L.P. and its content may not be copied or emailed to multiple sites or posted to a listserv without the copyright holder's express written permission. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.)