Compass Real Estate News July 30th, 2019 ...

Good morning,

Not unlike any other day at Compass, today is gonna be yuuuuuuuuuge!  

Our Series G financing round of $370 million in new capital was just announced by Robert on CNBC. This round includes new investor Dragoneer Investment Group, (which has invested in companies like Slack, Uber and DoorDash), as well as long-time partners, such as the Canada Pension Plan Investment Board (CPPIB) and the Softbank Vision Fund, who are reaffirming their continued belief in our strategy and success. This investment brings our total capital raised to over $1.5 billion. Thanks so much to everyone in the Compass Family - those who have been here since DAY 1, those who have joined us recently, and everyone who joined  somewhere inbetween - who continue to do extraordinary work every day, who help us build this wonderful place we call home, who strive daily to improve our world as well as our profession. THANK YOU!

DID YOU KNOW? The average rate on a 30-year, fixed-rate mortgage was 3.75% last week, down from 4.94% in November. It's possible mortgage rates have already factored in a Fed rate cut. Lenders made $565 billion of mortgage loans in the second quarter, the most in more than two years, as falling rates encouraged homeowners to refinance. At that pace, originations could exceed $2 trillion for only the third year since the financial crisis, according to the industry research group Inside Mortgage Finance. If you want to reach out to your clientele with a favor, maybe let them know this factoid as they may benefit by refinancing a mortgage they took out a year ago..... (WSJ)

DID YOU KNOW? For anyone scratching their head about low government inflation figures as they see rent prices, food prices, healthcare prices, etc rise, know you are not alone.....


Compass Catch

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Humility is one human attribute I seek most in others. I have found that most truly successful and accomplished people are humble about their achievements, don't brag relentlesly and often mix in some self-deprecating humor to demonstrate to the world that thay are not nearly as important as some might believe.

It is true that success and great achievements have the capacity to erode humility. It is at these times especially that we need our inner triggers - and friends, family and colleagues - to nip what can be a rather ugly human trait in the bud. So with to-day's new funding announcement, pat yourself on the back and know this is an enormous achievement, but be humble about it. Be elegant about it. Roar and yell with glee.....but do so behind closed doors.

Some may argue that all Compass' success could be attributed to our large pool of capital. That may be partly true, yet we should remind ourselves that our competitors - and those who want humans out of the real esatet profession altogether - are equally well funded. Some are far richer with multiple alternative sources of income. We have to compete on the same level. And we will.

In this world, no-one can ever stop learning, growing, improving and learning from their mistakes. Let's all continune to live by our Compass Principles and continue to SOAR!

No warranty, express or implied, is made or should be assumed regarding the accuracy, adequacy, completeness, legality or reliability of any information, in part or whole, contained herein. All data and information provided herein is for informational purposes only and does not represent or constitute a legal analysis or financial advice. The opinions expressed herein are those of Leonard Steinberg and do not necessarily reflect the views of Compass. Furthermore, this information may contain copyrighted material the use of which has not always been specifically authorized by the copyright owner. Such material is made available to advance understanding of general real estate market conditions, which should constitute a "fair use" of any such copyrighted material as provided for in section 107 of the US Copyright Law.

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