(NEW YORK, NY) — Compass is launching a new, no-interest loan program sources are calling the “Agent Betterment Fund.”
The new program will provide the company’s brokers with capital for hiring, coaching, and training staff and growing their business.
“I often hear from agents that they need to wait until their business grows to afford to bring on additional people. Unfortunately, not having those people is creating the barrier to that growth. It is my hope that this program will help alleviate the initial financial pressure that comes with looking to grow your teams,” Compass CEO, Robert Reffkin, wrote in a companywide email.
Compass continues on its venture to gain 20 percent market share in the top 20 metro markets by 2020.
Last year, the company raised $550 million in venture capital funding and has since launched digital real estate signs and made strides toward licensing its technology platform.
This new no-interest loan program has yet to be attempted and will continue to set Compass apart from its competitors.
Compass has yet to comment or provide details on the new program’s terms of individual funding, borrowing rates, and re-payment plan.