Compass cites “progress” on 2020 by 2020 goal — but not there yet

In the fall of 2017, Compass announced an ambitious plan to grab 20 percent market share in the country’s top 20 cities by 2020. As the deadline approaches, CEO Robert Reffkin told agents the firm still had some ways to go.

In a year-end letter to agents on Tuesday, Reffkin said Compass had exceeded 20 percent market share — or come close — in cities like San Francisco and Washington, D.C., as well as Silicon Valley submarkets. It hit 10 percent market share in “many more markets, which is major progress towards our 2020 by 2020 target.”