two years after he left focused on his eponymous venture capital fundFormer Compass California President Mark McLaughlin returns to the residential brokerage as chief real estate strategist.
According to McLaughlin’s LinkedIn profile, he holds the same title for most of 2021.
A Compass representative clarified that while the title is the same, McLaughlin’s position is new.
The representative said the new role would involve “balancing local autonomy and standardization, providing guidance and advice to our mortgage and title teams, and streamlining processes and partnerships”, while his previous role focused on “merger and acquisition activity”.
McLaughlin previously served as President of Compass California Acquired Pacific Union in 2018. McLaughlin has been CEO of San Francisco-based Pacific Union since 2009, where he led the company through 12 acquisitions before being acquired by Compass. It was the third largest independent agency in the country at the time and the largest independent firm in the state, with more than 2,000 agents and employees and $14 billion in sales.
Compass founder and CEO Robert Reffkin cited McLaughlin’s “extensive experience and track record in building successful real estate businesses” in a press release announcing his new position.
Compass representatives said McLaughlin Ventures was formed in 2001 and will continue to serve as McLaughlin’s “personal investment entity.” Compass didn’t buy it on his return.
In the press release, McLaughlin described himself as a “performance-based entrepreneur” who could “play an important role in our pursuit of excellence at Compass.”
The firm has endured some difficult times in the two years since McLaughlin exited the venture capital industry, including multiple rounds of layoffs and layoffs. Losses of more than $1 billion.But layoffs may help companies Achieving cash positive goals Rory Golord, President of Growth of the Year and Compass told TRD in May think The company’s spending, particularly on technology, will “help attract and retain the best agents.”
