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The Real Deal Los Angeles

Compass wants to build real estate’s answer to Pinterest

New "Collections" feature targets consumers with pin board concept
By Katherine Clarke | March 21, 2017 09:30AM

Leonard Steinberg and Compass’s new Collections feature

From the New York website: Compass wants to build the Pinterest of real estate.

Its new feature, known as “Collections,” allows consumers to create their own version of the Pinterest pin board for properties they’re interested in, said Leonard Steinberg, president of the firm.

Homebuyers and their agents can organize the properties they’re eyeing in one place and discuss them via a commenting tool. They can also share availability and pricing changes on the board and invite friends and family to weigh in on apartments by posting their opinions on each listing.

In some ways, the Collections feature is the first major public test of Compass’ tech chops. While much of the 1,400-agent company’s reported $1 billion-plus value is said to lie in its technology, most of those offerings have been agent-facing thus far.

Compass agents have already been using the feature for several months behind the scenes with existing clients, but it is now open to the public. Steinberg it “the industry’s answer to the modern way people like to shop.”

“Collections helps the homebuyer feel in control of the process and makes searching for or selling a home less cumbersome and more enjoyable,” he said. “Everyone loves a good mood board.”

The brokerage also hopes the feature will become a strong marketing tool, since agents can create public boards to share with potential clients and on social media.