NEW YORK, Nov. 30, 2021 /PRNewswire/ -- Compass, Inc. (NYSE: COMP), a leading technology-enabled residential real estate brokerage, today announced the appointment of Frank Martell to its board of directors. Martell is President and Chief Executive Officer of CoreLogic, where he leads efforts to provide real estate data and analytics services to real estate professionals, financial institutions, insurance carriers, government agencies, and other housing market participants to help people make their dream of homeownership a reality.
"I am thrilled to welcome Frank to Compass' board of directors," said Robert Reffkin, Founder, Chairman and CEO of Compass. "Frank's deep real estate industry experience at a company that powers the most prominent MLSs in the country, and his focus on the use of data and analytics platforms to empower real estate professionals to better serve their clients, make him a strong addition to our board. I look forward to working with him to deliver on our mission of helping everyone find their place in the world."
Martell has over 30 years' executive leadership experience in the marketing, financial services and business information industries. In August 2011, he joined CoreLogic, where he served consecutively as Chief Financial Officer and Chief Operating Officer before his appointment to Chief Executive Officer in March 2017. He was named by the Orange County Business Journal as the 2013 Outstanding CFO of a Public Company in Orange County. In 2016, he received the HousingWire Vanguard Award in recognition of his distinguished leadership in the housing industry.
"I could not be more excited to join the Compass board," said Martell. "Compass' focus on helping real estate agents succeed through the company's technology platform and support put it at the forefront of the digital transformation in the real estate industry, and I look forward to contributing to the company's continued success as a member of the board."
Martell serves on the global board of directors of Operation HOPE, a best-in-class provider of financial literacy empowerment for youth, financial capability for communities, and financial dignity for all. He chairs the West Coast Scarlet & Gold Committee of the Marine Corps Scholarship Foundation and is on the board of directors of Bank of the West. Until October 2021, he was also on the board of directors of the Mortgage Bankers Association (MBA).
Compass is home to over 25,000 agents operating in over 60 markets in the U.S. Last quarter Compass agents once again outperformed in a highly competitive real estate market delivering $69.1 billion in Gross Transaction Value1 and revenue of $1.74 billion. In the third quarter Compass agents saw a 36% increase in transactions, outperforming the industry where transactions decreased 1% during the same period.2
Founded in 2012, Compass is a leading technology-enabled residential real estate brokerage, providing an end-to-end platform that empowers its residential real estate agents to deliver exceptional service to seller and buyer clients. The platform includes an integrated suite of cloud-based software for customer relationship management, marketing, client service, brokerage services and other critical functionality, all custom-built for the real estate industry. Compass agents utilize the platform to grow their business, save time and manage their business more effectively. For more information on how Compass empowers real estate agents, one of the largest groups of small business owners in the country, please visit www.Compass.com.
1 Gross Transaction Value is the sum of all closing sale prices for homes transacted by agents on the Compass platform (excluding rental transactions). We include the value of a single transaction twice when our agents serve both the home buyer and home seller in the transaction.
2 We calculate Total Transactions by taking the sum of all transactions closed on the Compass platform in which our agent represented the buyer or seller in the purchase or sale of a home (excluding rental transactions). We include a single transaction twice when one or more Compass agents represent both the buyer and seller in any given transaction. (1)% figure based on NAR (National Association of Realtors) data as of September 2021.
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