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August Moon (listen) August Moon, laid just for you, steady, ready, smile like his, until it's out of sight Don't undo the true chance that chooses you Face to face with a new day. -Meredith Godreau |
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Compass in the News |
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Did You Know? 6 years ago this week I joined Compass and the honeymoon phase continues ♥️ My enthusiasm for this incredible co grows daily and I'm so excited for what the future will bring! |
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CONGRATULATIONS to everyone at COMPASS for another spectacular quarter. While we are still facing big challenges as the market evolves and adjusts, our Q2, 2022 results revealed that COMPASS agents sold 66,852 total transactions, UP 2% compared to 2021 (a record year).....while overall transactions in the real estate markets declined 10%. BRAVO! |
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THE NUMBERS |
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The Q2 Earnings revealed important insights into COMPASS. Here's the breakdown with some context: Firstly, the GREAT news: $76.8 BILLION - That's the total sales volume for Q2, April, May and June, 2022. That's about flat compared to 2021. (For context, Douglas Elliman sales volume dipped almost 10% in the same period according to the REAL DEAL) 66,846 - That's the number of total transactions in just 3 months in Q2....up 2% year-over-year. 734 - That's the number of transactions COMPASS agents did per day around the USA, 7 days a week. $2 BILLION - That's the number for company revenue - in one quarter - UP 4% compared to 2021, and the highest ever in company history. 10% - That's the decline in transactions in the US overall in Q2..while COMPASS transactions rose 2%! 4.6% Yes, that is COMPASS' national US market share now, up from 4.1% in 2021. (Q2) 71 - That's the number of markets COMPASS is in now, compared to 62 a year ago.....up 14.5%. That's a lot of investing, not spending. $900 million - That's the number invested in COMPASS tools, services, software and technology. 400 - That's the number of principal agents that joined COMPASS in just one quarter. WELCOME to COMPASS! 500 plus - That's the number of super-luxury $5 million-plus exclusive listings represented by COMPASS agents in just 10 of the markets we are in. COMPASS sells luxury.....LOTS of it! LOSSES: Of the $101 million loss that was reported, $59 million was stock based compensation for employees and agents. Therefore the cash loss is far less than reported. CASH: At the end of Q2 we had over $430M in cash, and over $300M in untapped credit and virtually no debt.......that is more cash than any other publicly traded brokerage. Compare this to (as of end Q2):
*ANYWHERE (Coldwell Banker, Century 21, Corcoran, Better Homes and Gardens, Sothebys, etc) has about $262 million in cash *EXP has about $241 million in cash *Douglas Elliman has about $ 209 million in cash. Debt: COMPASS has virtually ZERO long term debt. Compare this to: *ANYWHERE, about $2.5 billion in debt as of end Q2. *EXP, about $2.7 billion in debt as of end Q2. *Douglas Elliman, about $164mm in debt as of end Q2. *Redfin has about $1.24 billion in debt. |
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Real Estate in the News |
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A Little Comic Relief? |
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v*v*v*v*v*v*v*v*v*v |
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Local News |
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Mystery Billionaire Comes to the Rescue of The Central Park Boathouse Restaurant A secret donor has swooped in with a $6 million offer to save the beloved Loeb Boathouse, which was slated to close in October. Operator Dean Poll previously said he had no choice but to shut down because of the skyrocketing costs of labor and goods, with all 163 employees at the restaurant set to be laid off. More @ NY4. |
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New York City Removes the Last Payphone From Service It's the end of an era: The boxy enclosures were once an iconic symbol across the city. But the rise of cellphones made the booths obsolete. Workers remove the final New York City payphone near Seventh Avenue and 50th Street in Midtown Manhattan, It will be displayed at the Museum of the City of New York as part of an exhibit looking back at life in the city before computers. CNBC |
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The MTA Is Bringing Cellphone Service to New York’s Subway Tunnels “Bringing cell connectivity to the tunnels between stations and Wi-Fi to above-ground stations is a major step forward in enhancing transit riders’ experience,” MTA Chair & CEO Janno Lieber said in a statement. “And the deal will also help the MTA’s bottom line – a major concern as the pandemic winds down.” |
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Local Events |
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Black Is Beautiful: The Photography ofAugust 19, 2022 - January 15, 2023 |
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From the Archives |
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Downtown Alleys of Old New York |
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The dark alley ways of NYC were breeding grounds of crime, prostitution, outhouses, and worse. Before they were lit, you really couldn't use it as a backyard. They still exist somewhat in certain NYC areas. It was where garbage was thrown for pick-up. While NYC has had Murder Alley(Doyer St), Deadpan Alley, and Dungeon Alley. In the 1920's, alley's were places where danger grew. |
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Manhattan’s Lower East Side, particularly the wretched areas known as Mulberry Bend and Bone Alley were teeming with poverty, violence and disease. The whole district was a maze of narrow, often unsuspected passage ways 59½ Mulberry Street(pic), a back alley in Manhattan, better known as “Bandit’s Roost” due to being the most dangerous area in Mulberry Street, 1888. Photo by JACOB RIIS. |
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Health & Fitness |
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My NYC TRIATHLON |
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My 1st endurance race in 4 years was very challenging at times but exhilarating. I am glad to be back but still have a ways to go. Wet suits were not permitted as, the water temps shot up to 80°. Without the buoyancy, the swim in the Hudson River was a lot more work. The bike and run portions of the event were shortened because of the heat and definitely manageable. |
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Really Interesting (to me) Corner |
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Future of Fashion: Mushroom Clothing When Stella McCartney launched 20 years ago, they brought a conscience to the fashion industry as the 1st luxury house to never use leather, feathers, fur or skins. Lab-grown Mylo mushroom leather is a state-of-the-art process designed to have a minimal environmental impact helping to save on water, greenhouse gas emissions & protects vital ecosystems like the Amazon from deforestation. Stella McCartney. |
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Nation's Only Retailer of Lost Luggage Over 99.5% of domestic airline’s checked bags are picked up at the carousel. After airlines conduct an extensive 3-month tracing process there are still a small percentage of bags left unclaimed. Unclaimed Baggage buys orphaned bags and gives them a second life by selling, donating, and recycling their contents. Unclaimed Baggage. |
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