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- Sales training on its platform and support for agents.
- Co-branded advertisements.
- Preferred Agent Program compensation.
- Live back-office agent chat, text, and phone support.
“We see this relationship with Compass through our Preferred Agent Program as amazingly, mutually beneficial,” said Benjie Buford, VP of Sales of Welcome Homes. “It establishes relationships with thousands of experienced local sales professionals and helps them overcome the huge inventory shortage issues by building the homes their buyers want and need.”
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The Compass relationship announcement comes on the heels of the success Welcome Homes has seen in the Tri-State area, with plans to expand across the East Coast in the coming months, and nationally over the next 24 months to provide agents across the country with more inventory and options for their clients.
The collaboration was partly prompted by the housing shortage. Welcome Homes officials cite research from Realtor.com that estimates the US is currently short some 5.8 million single-family homes, whereas before the pandemic the gap was 3.8 million. Realtor.com estimates it would take five to six years for that gap to close even if builders were to double the current pace of construction.
Depending on whose data you read, there is a shortfall of between five million single family homes, according to the National Association Realtors, and the National Association of Home Builders’ more conservative estimate of about one million. According to the NAHB, there has been a reduction in the number of household formations, due to the fact that the share of 25- to 34-year-olds living with their parents had doubled to roughly 20% in the last 20 years.
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