Mark McLaughlin leaving Compass to reboot VC firm

Head of Compass in California to leave firm on Sept. 30

Mark McLaughin leaving Compass to reboot VC firm
Mark McLaughlin split from Compass CEO Robert Reffkin (LinkedIn)

Compass is losing its brokerage head in California.

Mark McLaughlin is leaving the firm on Sept. 30 to reboot his venture capital firm, McLaughlin Ventures, Inman reported, citing an internal email.

McLaughlin joined Compass in 2018, after the New York-based brokerage acquired McLaughlin’s Pacific Union International, one of the largest West Coast brokerages at the time.

He will still serve as a strategic advisor to Compass, but will formally step away from full-time, day-to-day operations.

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In October, he plans to relaunch McLaughlin Ventures, focusing on real estate technology and mortgage industries. Last month, Compass said it was launching a digital mortgage origination business with Guaranteed Rate.

In his email to Compass California employees, McLaughlin said the firm is in the “best shape it has ever been.”

In Southern California, Compass recently lost a nine-agent team to Mauricio Umansky’s The Agency. The company’s also lost as much as $3 billion in share value after going public earlier this year. The stock has since regained some of that value.

[Inman]  — Isabella Farr