Compass Resort aims to provide referrals, partnerships and other services to agents working with clients specializing in vacation rentals and second homes.
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Compass this week announced it is launching a new network to connect agents working with people buying second homes and vacation homes.
The company calls the Compass Resort network. According to the network’s website, it will help agents share referrals, collaborate and “promote a second home experience for our clients.” The site adds that Compass Resort members “serve more than 30 different second home markets,” and that some “generate nearly 70 percent of their business through referrals from other Compass dealers.”
A statement Compass provided to Inman on Tuesday also explained that Compass Resort “fits the needs of agents serving the vacation market and clients looking for second, third, or fourth homes.” The statement added that Compass will focus not only on “good” locations, but also on “smaller feeder markets such as the San Juan Islands in Washington and Lake Geneva in Wisconsin.”
Compass officially announced the project Wednesday during the company’s annual retreat in Charleston, South Carolina.
The launch of Compass Resort comes as companies across the industry work to diversify their offerings and as real estate sales remain sluggish due to persistently low mortgage rates. Companies have responded to those conditions in a variety of ways, for example by accelerating overseas expansion or changing their hiring practices.
Compass, on the other hand, has chosen to focus on services it says will benefit its agents. The Compass Resort network is one iteration of that concept, but the company recently announced plans to rely on a private listing network — meaning the company’s agents should have access to a growing number of exclusive listings. A brokerage’s representation in matters such as Clear Cooperation may also increase services such as private listings that give its agents an edge.
Compass’ statement on the new second home network also notes that the launch of the project is “timely as high-end buyers continue to seek more than luxury properties.” The statement also points to the increase in remote and hybrid work as factors that prompt people “to rethink the concept of ‘home,’ many now want to escape for weekends or investment locations.”
Jordie Karlinski
According to the statement, Compass ambassadors Jordie Karlinski, Jack Pearson, Jen O’Hanlon and Steve Springer will lead the Compass Resort. O’Hanlon, who works on Martha’s Vineyard, said in a statement that many high-end home buyers see their “second homes as part of their broader wealth portfolio,” with agents acting as “wealth managers.” Meanwhile, Karlinski — who works in Aspen, Colorado — expressed excitement to better serve that population.
“We are excited to introduce a new level of service to second home buyers and their agents,” Karlinski said in a statement. “We have a white-glove approach, but this is about tailoring that service to the industry’s unique needs and priorities.”
Email Jim Dalrymple II
