Neda Navab is now president of Compass Real Estate, Chairman and CEO Robert Reffkin announced in a Feb. 9 LinkedIn post.
“In this role, Neda will focus exclusively on leading and supporting our Compass real estate professionals nationwide, and helping them achieve their full entrepreneurial potential,” Reffkin wrote. “Please join me in congratulating Neda as she leads Compass into this next chapter.”
Previously, Navab and Rory Golod were presidents of brokerage operations for the company’s east and west regions, respectively. The change comes as Reffkin takes the role of chairman and CEO of the newly formed Compass International Holdings, created with the finalization of the Anywhere merger. That leaves Navab at the helm of the company’s nationwide residential brokerage.
Reffkin noted in a press release that he and Navab will continue to work together closely, with her presidency focused on “helping Compass agents thrive.”
A graduate of Harvard Business School and former Google staff member, Navab has been with Compass since 2018 when she was hired as Reffkin’s chief of staff.
“Compass real estate professionals are among the most talented and dedicated agents in the industry, and it has been the privilege of my career to build alongside them,” Navab said in a press release. “I have spent years listening to what they want and need from their brokerage, and my commitment to delivering on that has never been stronger.”
Navab recently ranked No. 60 on the Swanepoel Power 200 and was named to HousingWire’s Women of Influence list for 2025.
“As president, I will work tirelessly to protect what makes Compass special while continuing to elevate the experience for our real estate professionals and their clients,” Navab added.
“Given that consumers use multiple online home search platforms simultaneously at little or no cost, Zillow’s brand recognition and related network effect do not appear to have deterred prospective home buyers from cross-shopping amongst competitors or new entrants,” Vargas wrote in her opinion.
She elaborated that even if Zillow possessed a 50% share or more of the market, Compass had not provided enough evidence of a monopoly to warrant a preliminary injunction. Such a court order would have prevented Zillow from enforcing its private-listing ban, which was introduced last May.
A spokesperson from Zillow provided this statement:
Today’s ruling is a clear victory not just for Zillow, but for consumers, agents, brokerages and the real estate industry at large. Zillow believes everyone deserves equal access to the same real estate information at the same time. Compass does the opposite — hiding listings away in its private vault, harming consumers and small businesses to benefit itself.
Compass filed this baseless lawsuit in an attempt to force Zillow to participate in that exclusionary scheme — but today, the United States District Court for the Southern District of New York rejected their effort to reduce transparency for consumers, ruling that Compass failed to show a likelihood of success on the merits. At a time when Americans are struggling to afford a home amid a major housing shortage, hiding listings in private networks only deepens the crisis. While Compass keeps consumers in the dark, Zillow turns on the lights to help people get home.
“Our lawsuit continues forward,” Reffkin told Agent Publishing. “With agents being our clients, we have an obligation to protect our agents from Zillow, which explicitly stated they are trying to ‘punish the agent.’”
Reffkin’s allegation refers to an internal Zillow strategy document that referenced a “punishment list” of agents who don’t comply with Zillow’s listing policies.
That list would presumably be full of Compass agents, seeing as the brokerage’s “private exclusive” listing model delays listing on the broader MLS in favor of its own off-market listing network.
Zillow did not immediately respond to a request for comment regarding the assertion that it will take any retribution against noncompliant agents.
However, Compass reiterated in a statement that the lawsuit “has nothing to do with private exclusives” but with Zillow’s insistence that publicly marketing listings must be publicly available on all listing services — including, of course, Zillow.
Ryan Schneider, former CEO of Anywhere Real Estate, has left the company following its acquisition by Compass, a representative from Anywhere confirmed.
“In accordance with the terms of the merger agreement, Ryan exited the company upon closing last month,” said Dan Ivers, senior director, business communications at Anywhere.
Schneider departed as part of Compass and Anywhere’s all-stock merger, which closed on Jan. 9, forming Compass International Holdings. The transaction followed stockholder approval on Jan. 7 when shareholders of both companies voted in favor of the merger at special meetings.
Compass International Holdings is led by chairman and CEO Robert Reffkin, who said in a Jan. 9 open letter that the combination marks the beginning of an “exciting new chapter” for the industry. Reffkin described the merged company as one built by and for real estate professionals, with a focus on supporting agents and affiliate broker-owners through technology, tools and services designed to help them grow their businesses.
Under the terms of the merger, each brand within the combined organization will continue to operate independently while leveraging a shared technology platform known as the Agent Operating System.
What was your most interesting job before going into real estate? Labor and employment lawyer, but also loved being bartender and waitress in college!
Where did you grow up? New Orleans, and still have my 504 phone number, which is so HUGE in Houston since we have a huge Louisiana client base.
Growing up, what did you want to be? Store clerk with carbon paper when I was little and then history professor once I was schooled!
What do you do to relax when you’re stressed? Walk! I am Your Walking Agent, authentically. It’s my de-stressor and gives me license to learn all the Houston neighborhoods on foot. Win-win.
If you could meet any well-known figure (living or not), who would it be and why? John Denver. His music always makes me happy and weep at the same time, just sentimental. I admire his positivity and love for nature, which I share. On our honeymoon in Jamaica, over 25 years ago, I was joking when the musician asked what song we’d like as he serenaded our dinner, and requested “Sunshine” and low and behold he nailed it. I was crying with happy joy and emotion. Unforgettable moment.
What is Houston’s best kept secret? Ah, there are so many. But for us, it’s BLT, where the servers make you feel like family, the food is excellent but the venue is a laid-back atmosphere. A home away from home.
What do you love most about the industry? People! I love the relationships that last forever and Sending happy gifts to the people who help me thrive.
What is the most difficult aspect of your job? Hours. Some people think they’ll get into real estate so they can work on flexible hours. The truth is, we’re 24/7, and with technology, we’re always on. Worst mom moment — when my son, now 18, was very young and he asserted loudly that he wished he could throw my phone in the pool. It never stops, but that’s just part of the business and has helped teach our kids the value of hard work because they see me in it, unlike most office jobs that your children never witness.
What’s your best advice for generating new leads? I am a referral-based agent and am no good at advice on leads! My sphere is my lead funnel and I’m so happy and appreciative of that.
What are you binge-watching/reading/listening to? I’ve always read true crime and that has carried through with current shows and podcasts. I love being part of a Mystery Mondays book club but have realized I prefer thrillers and true crime over mystery. Up to watch anything that’s well done and entertaining, but favorite, most compelling to me is a good ole Scott Turow thriller or Pat Conroy novel.
What’s your favorite meal in Houston? Pho and ramen at numerous places, plus the hotpot in Bellaire at Sinh Sinh. The Asian food in Houston is crazy good! But I can’t discount our Mexican food too, just abundantly good.
Architecturally speaking, what is your favorite building in Houston? The Historic Heights Firehouse is just so beautiful. We hosted our daughter’s sweet 16 and an epic Mardi Gras party there, not to mention all the time there helping with Houston Heights home tour. The Schoolhouse lighting, metal ceiling work, previous jail and other attributes just make this venue my favorite place to be. Plus, our family has a brick that we donated many moons ago in support of a fundraiser that has our beloved dog Nola inscribed, so it’s fun to walk by that and recollect.
What’s one thing people might be surprised to learn about you? I am an introvert despite an extroverted job. Being with people all day and open houses, my favorite spot is at home cooking dinner with family and hanging on front porch with my Sign Guy, my husband.
What is your favorite vacation spot and why? Mexico, because it’s easy and beautiful, but Sign Guy is not a fan! Still searching, but there has to be a beach and balcony!
In 10 words or less, what is your advice for someone new to the industry? Be yourself, be authentic and reach out to your sphere.
“I wasn’t looking to make a change lightly,” Hearn said in a press release. “Gary Greene stood out for its culture, support and understanding of how established agents operate. It felt like the right long-term fit.”
A resident of The Woodlands for over 40 years, Hearn founded The Hearn Team with his wife, Jenny Hearn, in 2008. Sales Associate Kezia Fredricksen joined the team in 2020.
“Tory is someone other agents know, trust and enjoy working with,” said James Turner, director of growth for Gary Greene. “His reputation in the community and among his peers reflects the values and culture we’re intentional about building.”
After a year of big moves for Compass, Chairman and CEO Robert Reffkin retained his position as the No. 1 most powerful person in real estate, according to the annual Swanepoel Power 200 from T3 Sixty.
Jeremy Wacksman, CEO of Zillow Group, ranked No. 2, following a profitable year for the real estate portal. T3 Sixty also noted Wacksman’s ongoing battle with Compass over exclusive listings.
No. 3 on the list was Rocket Companies CEO Varun Krishna, who oversaw the group’s acquisition of Redfin in July; followed by eXp World Holdings Founder and CEO Glenn Sanford at No. 4 and Anywhere Real Estate President and CEO Ryan Schneider at No. 5.
Also in the top 10 were Andy Florance, founder and CEO of CoStar Group at No. 6; Chris Kelly, president and CEO of HomeServices of America at No. 7; Howard “Hoby” Hanna IV, CEO of Hanna Holdings at No. 8; Nykia Wright, CEO of the National Association of REALTORS® at No. 9; and Leo Pareja, CEO of eXp Realty at No. 10.
Compass, Inc. and Anywhere Real Estate Inc. have officially completed their all-stock merger and will now operate as Compass International Holdings (CIH), led by chairman and CEO Robert Reffkin.
In an open letter to real estate professionals, affiliate partners and employees, Reffkin described the merger as the start of an “exciting new chapter” for the industry. He framed the combined company as one “built by real estate professionals, for real estate professionals.”
Reffkin emphasized the focus on supporting agents and affiliate broker-owners with tools, technology and services to help them save time, grow their business and better serve clients. He stated that the combination is not merely a transaction but a union of respected brands and professionals working together on a single, modern technology platform, the Agent Operating System.
Each brand within the merged company is set to continue operating independently, preserving its identity while leveraging the combined platform’s capabilities. The network will feature brokerage-led sites founded on the principle of “your listing, your lead.”
Reffkin stated that real estate professionals and their sellers will continue to have the freedom to choose how their listings are marketed and sold and that Compass International Holdings will not mandate or require the use of Private Exclusives.
The new Compass International Holdings unites approximately 340,000 real estate professionals and affiliate broker-owners operating in every major U.S. city and across 120 countries and territories. Reffkin emphasized that this extensive network enhances both local expertise and global reach for agents and clients alike.
Reffkin’s letter outlines several commitments for the merged company, including:
Preserving the distinct identities of major brands such as @properties, Better Homes and Gardens Real Estate, CENTURY 21, Christie’s International Real Estate, Coldwell Banker, Compass, Corcoran, ERA, and Sotheby’s International Realty.
Making the unified technology platform available to company-owned brokerages and affiliates, allowing them to choose the tools that best support their businesses and clients.
Ensuring that real estate professionals retain control of their data and client relationships, including the ability to take their client database and communications with them.
On Jan. 7, stockholders of both Compass, Inc. and Anywhere Real Estate Inc. overwhelmingly approved all proposals tied to the companies’ $1.6 billion merger.
Compass and Anywhere Real Estate are one step closer to becoming a single company. Stockholders of both Compass, Inc. and Anywhere Real Estate Inc. have overwhelmingly approved all proposals tied to the companies’ previously announced merger, signaling strong investor support for the $1.6 billion deal. With the required votes now secured, the transaction is expected to close on Jan. 9, 2026, pending the satisfaction of customary closing conditions.
As previously reported by Chicago Agent magazine, the deal brings Anywhere’s portfolio of well-known brands, including Better Homes and Gardens Real Estate, CENTURY 21, Coldwell Banker, Coldwell Banker Commercial, Corcoran, ERA, Guaranteed Rate Affinity and Sotheby’s International Realty under the Compass umbrella.
Compass said the transaction will unite its roughly 40,000 agents with Anywhere’s 300,000 agents in a single network, broadening agent-to-agent referral opportunities and combining Compass’ technology with Anywhere’s title and escrow, mortgag and relocation services. The combined footprint will cover all 50 states, nearly every major U.S. market and 120 countries and territories worldwide.
“We are pleased with the strong support from our and Anywhere’s stockholders in approving this transaction,” said Robert Reffkin, founder and chief executive officer of Compass. “Today’s outcome reflects confidence in our shared vision to empower real estate professionals with everything they need to grow their business and better serve their clients.”
At Compass’ special meeting, about 99% of votes cast approved issuing Class A shares to Anywhere stockholders as part of the merger. At Anywhere’s meeting, roughly 72.4% of outstanding shares voted in favor of adopting the merger agreement.
The residential real estate brokerage world was rocked Monday with news of the industry’s largest-ever consolidation.
Compass announced a $1.6 billion deal to acquire Anywhere Real Estate in an all-stock transaction.
The acquisition will make Compass the world’s largest residential real estate firm with an enterprise value of about $10 billion, according to a joint statement from the two publicly traded companies.
Once the transaction is completed in the second half of 2026, Compass, which also owns Christie’s International Real Estate, will take over Anywhere’s brands, including Better Homes and Gardens Real Estate, Century 21, Coldwell Banker, Coldwell Banker Commercial, Corcoran, ERA and Sotheby’s International Realty.
With the merger of the two real estate giants, Compass will have 340,000 real estate professionals globally serving about 120 countries and territories. The company, which was already the top brokerage firm before the acquisition, reported 2024 revenue of $5.629 billion.
Compass CEO and founder Robert Reffkin said he has “deep respect” for Anywhere’s leadership, agents, employees, culture and brands.
“By bringing together two of the best companies in our industry, while preserving the unique independence of Anywhere’s leading brands, we now have the resources to build a place where real estate professionals can thrive for decades to come,” Reffkin, who will continue to lead the combined companies, said in the statement.
The consolidation of Compass and Anywhere is expected to cut combined operating costs by about $255 million a year by combining operations and eliminating redundancies. Compass projects it will complete 1.2 million home sales annually as a result of the merger and add more than $1 billion in sales from Anywhere’s established franchise, title and escrow, and relocation operations, according to the statement.
Here on Long Island, where most of the brands involved in the merger are prominent, brokers differ on the local significance of the deal.
Joseph Sabella, owner of Oakdale-based RealPro Consulting, said the Compass/Anywhere merger isn’t likely to have any major implications for the Long Island real estate market.
“Our market is largely driven by local inventory, pricing, and relationships,” Sabella told LIBN. “Where we may see ripple effects is on a national level, particularly in how the combined company positions itself against major players like Zillow and even the National Association of Realtors. It’s a strategic move, but its influence will be felt more broadly across the industry than here at home.”
Peter Morris, founder and co-owner of Huntington-based Signature Premier Properties said the Compass acquisition of Anywhere is a bold but risky deal.
“They are taking on significant debt, and Wall Street‘s immediate response has not been favorable, with their stock falling following the announcement,” Morris said in a written statement. “Growth and consolidation on this scale always comes with challenges. We know firsthand that agents do not like change and for those at Coldwell Banker, Corcoran, or other Anywhere brands, change is inevitable. The forecast of $255 million in savings points to layoffs, office consolidations, tech platform shifts, and leaner marketing departments.”
After the Federal Reserve closed July by maintaining the benchmark Fed funds rate at 5.25% to 5.5%, where it’s been for over a year, investors have been clamoring for a do-over.
The S&P 500 plunged 6% over the first three trading days of August as a raft of downbeat economic data convinced investors that the economy was weakening faster than expected and the Fed had erred in not lowering rates.
Stocks plunged on Monday as a surprise interest rate hike in Japan led to the unwind of a global “carry trade” in which investors had borrowed low-interest yen to invest in risky assets in the U.S. like the “Magnificent Seven” stocks.
As a result of the sharp three-day sell-off, economists now expect the Fed to cut rates by 50 basis points in its September meeting and at least another 50 basis points before the year’s over.
The economy is likely to remain uncertain, but one thing is clear. Lower interest rates will help to revive a struggling housing market, breathing new life into stocks that depend on real estate transactions.
That industry has been hit hard by the slowdown in the housing market, but a turnaround could be near. One stock that could soar in the recovery is Compass (NYSE: COMP), the nation’s No. 1 real estate brokerage by sales volume.
Image source: Getty Images.
Can Compass get back on track?
Compass went public in the spring of 2021 when the real estate market was booming, and mortgage rates were around 3%. However, that boom did not last long, and by the time 2022 rolled around, revenue was sliding, and the stock was flailing.
With the housing market remaining on ice, Compass has focused on realigning its cost structure, investing in technology, and growing its base of agents, which has helped drive revenue higher even in a challenging market.
Revenue increased 14% to $1.7 billion in the second quarter, and Compass’s number of principal agents rose 24% to nearly 17,000 as it’s luring new agents with an attractive technology platform and a steady marketing push. After two years of declines in total transactions, the business has returned to growth, a sign that the industry is starting to turn around.
Compass is also targeting positive free cash flow this year and is making progress in profitability as adjusted earnings before interest, taxes, depreciation, and amortization (EBITDA) jumped from $30.1 million to $77.4 million in the seasonally strong second quarter.
The real estate brokerage industry is in flux after a lawsuit against the National Association of Realtors forced brokerages to amend their business model with more disclosures and information that makes it clear that traditional 3% commissions are negotiable. As a part of the settlement agreement, Compass agreed to pay $57.5 million.
Compass has also assuaged concerns that the agreement would dramatically change the industry, noting in May that in the initial weeks after the settlement, 99% of new listings included offers to pay the buyers agent, and 96% included commission offers of 2% or more. Compass believes the settlement will have little impact on professional full-time agents.
What lower interest rates would mean for Compass
The housing market will probably never return to the heady early days of the pandemic when Americans in cities were plucking up second homes and suburban plots with yards, and mortgage rates fell to less than 3%.
However, there is substantial pent-up demand from homebuyers looking for falling rates to effectively lower prices by bringing down monthly payments and from potential home sellers who may not want to give up their low mortgage rates when current rates are so high.
In June, existing home sales fell to a seasonally adjusted annual rate of 3.89 million, down from a peak of 6.6 million in 2021, a decline of 41%. Reversing that loss would mean a surge in existing home sales of 70%.
Compass doesn’t need that to happen, but even getting back to pre-pandemic levels would mean a 50% increase from current existing home sales, and that should make a significant difference on the bottom line. CEO Robert Reffkin told investors this spring, “We believe when rates come down it will create a massive surge in transactions,” and he predicted lower rates would mean hundreds of millions in adjusted EBITDA and free cash flow, assuming normalized annual home sales of 5.4 million-5.6 million homes.
The business is already moving in the right direction, with revenue up double digits, and growth is likely to accelerate substantially as mortgage rates come down and the housing market picks up again.
Compass stock has already more than doubled from its low last November, trending with hopes of a recovery in the housing market and stabilization in its own business. Down 79%, Compass doesn’t have to recoup those losses to be a winner. The stock could double by only retracing a quarter of those losses.
If the Fed cooperates and the housing market shows signs of life, a double for the real estate brokerage stock from here certainly seems within reach.
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Jared Ringel is joining One Sotheby’s International Realty’s office in Boca Raton.
Ringel and his business partner, Erin Omiatek, are moving from Compass to launch their Modern Group team with One Sotheby’s, according to a press release. The agents joining their team include Marc Coriaty, Chris Scoppettone, Noah Rosenthal, Joshua Gold, Paola Forero, Abigail Bromberg, Brooke Bogart, Jamie Jaeger, Lisa Valko, Perry Dubinsky, Lina Zelman, Erin Pierce, Paris Davis and Silvia Machado.
Ringel previously led the Atlas team at Compass’ Boca Raton office, which at one point included 60 agents, he said. With that team, Ringel closed more than $1 billion in deals in the past five years, according to the release.
Ringel said he was “always very happy at Compass” and not looking to leave when he struck up a friendship with One Sotheby’s Senior Vice President Chris Anthony.
“We played a little golf, went to a couple concerts,” he said. It turned into lunches to discuss a possible move, and then the decision to move. Ringel liked One Sotheby’s international reach and national network of agents, he said.
“I want to be… the people [Sotheby’s agents] call when they have a deal they want to do in South Florida,” he said.
Daniel de la Vega, president of Coconut Grove-based One Sotheby’s, said the brokerage will continue to recruit in Palm Beach County as it expands its operations there. The firm recently took over sales and marketing from Douglas Elliman of BGI Capital and Blue Road’s planned Alba Palm Beach condominium in West Palm Beach. It marks One Sotheby’s first new development sales project in Palm Beach County.
“The Palm Beach [County] market is very important to us,” de la Vega said.
Ringel anticipates more growth in Palm Beach County, noting a recent “drift north” as prices surge in Miami. One Sotheby’s joins other South Florida brokerages in following buyers in this northward move, adding agents and offices in Broward and Palm Beach counties.
“Everyone wants to be in Florida,” Ringel said. “I think there’s going to be another pop.”
LONDON, December 8, 2022 (Newswire.com)
– PD EDC is hoping its new keychain navigational compass The Bugeye continues the company’s unbroken run of Kickstarter success stories. This time, the team has turned its considerable design skills on the humble pocket compass.
“Now that the world is open again and people are once again travelling and hitting the trails, we thought why not take another look at the traditional compass. We found that compasses haven’t changed much over the years, and there seemed to be only one style. Then we knew what we had to do,” said Andrew Lee, the product designer.
The Bugeye is the result of months of design work and the brief was to create a practical, capable, and functional compass that’s easy and fun to use.
Its base is made of durable Grade 5 titanium or solid brass, often referred to as timeless materials.
The result is a tool that is:
Shockproof
Waterproof
Sand-resistant
Impervious to extreme temperatures
The compass itself is known as a globe compass because its spherical dial floats in a glass bubble. This design is achieved using high-sensitivity encapsulation technology.
The clever design means that the compass can be read in two different ways, offering higher functionality over some traditional compasses.
Viewed from above, the top dial lets the user view the so-called “cardinal points” like North and South but when the compass is held at eye level, the user can use a second lower dial to discern the actual direction they are travelling.
The Bugeye is a quality piece of equipment that could, in an emergency, prove to be a lifesaver. It’s the perfect backup for GPS. Even if you have a handheld GPS unit, it’s always a great idea to have an old-school backup.
The Bugeye is ideal for adults:
Ramblers
Hill Walkers
Mountaineering
Search and Rescue
Star Gazing
Ornithologists
Adventurers
Explorers
Divers
Anyone living in GPS or Wi-Fi black spots
The Bugeye just launched on Kickstarter and savvy backers can grab one for the early-bird better-than-retail price at up to 35% off.
To find out more about the product, the project or the team behind the project, please check the live campaign on Kickstarter: http://kck.st/3P9FbjH.
