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Compass is planning to get into the mortgage business – RealtyBizNews: Real Estate News (realtybiznews.com)

Compass raised a massive $450 million when it went public last month, but the company remains unprofitable and is now looking to generate extra income in order to please its new backers.

Compass is a tech-powered real estate brokerage that sets itself apart from its rivals by providing a suite of digital tools its agents can use to better market themselves and their listings. Its customer relationship management platform provides, among other things, tools to make videos, ads and newsletters.

The company said last week during its first ever earnings call that it lost a net $212 million in the first quarter ending in March, compared to a $133 million loss in Q1 2020.

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