Compass

A Compass program that enticed agents to forgo sales commissions in exchange for stock has lost $74 million in value, according to a TRD analysis.

[Ronita Kalra, who joined Compass from Douglas Elliman](https://therealdeal.com/2020/12/10/ellimans-ronita-kalra-jumps-to-compass/) in 2020. Compass CEO Robert Reffkin noted in an August earnings call that agents had become less willing to subscribe to the equity program. When agents defer sales commissions, Compass can pay them more slowly — and in stock rather than cash. But investors have taken a dim view of the company after hype about its technology products fizzled, and seem pessimistic about the residential brokerage space overall, with many of Compass’ rivals also taking big hits to their stock price. But the material impact of Compass’ plummeting stock price on its foot soldiers — the agents that bought into the dream — was less understood. 27, an analysis of public filings by The Real Deal suggests.