Show me the Waze: Compass partners with navigation app as part of tech push

New ad program will display listings on navigation app

New York /
Sep.September 07, 2018 05:30 PM

Compass’ new partnership with Waze

Imagine hopping in your car, plugging an address into Waze and driving down the street — only to see an ad for a real estate listing pop up on the navigation app.

Thanks to a paid advertising engagement with Compass, that will be possible starting in October.

“Compass ads will show up as branded pins within the Waze app pointing people to a listing and the Compass sign — like a digital billboard,” a spokesperson for the New York-based brokerage confirmed Friday, after Compass tweeted out the news.

It’s certainly not the first ad program for Waze, the community-based map tool owned by Google that is hugely popular in the suburbs. But it is the first of its kind in real estate, Compass said.

The program is a paid opportunity for agents who choose to buy Compass’ new, illuminated signs, which are also equipped with QR codes. Compass unveiled the futuristic signs in July. The Waze ads are not included in the cost of the signs, which can run agents around $700.

Compass, which has raised nearly $800 million from investors — including $450 million from SoftBank — is on an ambitious trajectory to capture 20 percent market share in 20 cities by 2020. It is also targeting $1 billion in revenue this year, up from $370 million in 2017.

“The investments have allowed us — and let us — accelerate our growth in marketing and support, in technology and [in new geographic] regions,” Reffkin told The Real Deal last month.


Related Articles

arrow_forward_ios
Eric Gordon
Eric Gordon on the evolution of the residential data game — and how to stay competitive in the new world
Eric Gordon on the evolution of the residential data game — and how to stay competitive in the new world
Big Tech locations in NYC
MAP: Here’s a look at all the Big Tech locations in NYC
MAP: Here’s a look at all the Big Tech locations in NYC
What will proptech look like in 2019 and beyond?
What will proptech look like in 2019 and beyond?
What will proptech look like in 2019 and beyond?
Houston House at 298 East 2nd Street and Matt Lee (Houston House, LinkedIn)
Developer Matt Lee to auction off East Village condo
Developer Matt Lee to auction off East Village condo
Robert Reffkin (Getty)
Compass lost $270M in 2020, revenue up 56% : IPO filing
Compass lost $270M in 2020, revenue up 56% : IPO filing
Michael Stern and Walker Tower unit 15B (JDS, Google Maps)
Michael Stern’s Walker Tower pad sells for 24% under ask
Michael Stern’s Walker Tower pad sells for 24% under ask
Homebuilding is largely responsible for the increase in construction spending. (Getty / Photo Illustration for The Real Deal)
Construction spending hits new record in January
Construction spending hits new record in January
A Columbus Circle apartment once owned by Tom Brady and Gisele Bundchen  went into contract last week, helping the Manhattan luxury home market finish February on a high note. 551 West 21st Street on the right. (Photos via Compass, Getty, Foster and Partners)
Manhattan luxury market has best month in six years
Manhattan luxury market has best month in six years
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...