Compass launches app that provides customized housing market reports

Knowledge is power. We all know this.

Technology is everywhere – people use their mobile devices more and more and not just for fun or “useless” activities as some might argue.

It appears that Compass, the technology-driven real estate platform understands the importance of using technology to have market advantage and to be useful, relevant to clients and agents. The company recently launched an iOS app, for iPhones and iPads, that offers consumers and their agents the possibility to make informed decisions based on quarterly reports.

The data provided covers housing statistics on active, pending and sold listings – including the median price, total dollar volume, days on market, etc. The app provides information even about median negotiation, which is quite interesting (and useful!)
„Compass Markets” is of use, for now, to New Yorkers or those interested in buying/selling something here. The app creates market comparisons in Manhattan and Brooklyn and provides both the latest activity and long-term trends from five years of transaction history. Of course, the information can be easily accessed wherever you are.

The app allows its users to customize market searches by neighborhood, housing type, number of bedrooms, and price range. Real estate agents can thus use the app to create customized reports based on clients’s requests and interests, produce them in a PDF form and send it to them from the app.

“Wall Street doesn’t have to wait for once a quarter updates of the Dow Jones Index, and the real estate community shouldn’t have to wait that long for housing information either. “Compass Markets” will provide a moving picture of the market so that consumers and their agents can work together to make better, more informed decisions on their real estate journeys,” stated Robert Reffkin, Compass Founder & CEO.

This launch comes after the recent $50 million raise in new funding in September and also follows the opening of the first branch in Miami in August.

Since its launch, Compass generated a lot of interest and had many materials dedicated to it, including on Fast Company – and I even read in an article that there were some lawsuits discussions regarding this app.

All in all, it seems that the money raised in September are already being put to good use and now it only remains to see how much will this app be used by the brokers and their clients.