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Editor’s note: Which direction does the Compass point?

Stuart Elliott
Stuart Elliott

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From the December issue: These days, every conversation about real estate seems to wind up on the same topic: “What do you make of Urban Compass? I don’t get the whole thing. What’s the business model there?” The brokerage startup has famously raised more than $70 million, with investors including New York real estate names like Bill Rudin and Jared Kushner. It’s now valued at $360 million. It has lured big brokers, including Leonard Steinberg and most recently, Brown Harris Stevens’ Kyle Blackmon. [more]