Two years after he left to focus on his eponymous venture capital fund, former Compass California President Mark McLaughlin has returned to the residential brokerage as its chief real estate strategist.
That’s the same title McLaughlin held for most of 2021, according to his LinkedIn profile.
McLaughlin’s position is new even though the title is the same, a Compass rep clarified.
The new role will involve “balancing local autonomy and standardization, coaching and advising our mortgage and title teams, and streamlining processes and partnerships,” according to the representative, while his previous duties centered on “M&A activities.”
McLaughlin previously served as president of Compass California after Compass bought Pacific Union in 2018. McLaughlin was CEO of San Francisco-based Pacific Union beginning in 2009 and, under his leadership, it went through 12 mergers and acquisitions before Compass bought the company. It was the third-largest independent agency in the country at that time, and the largest independent firm in the state with more than 2,000 agents and employees and $14 billion in sales volume.
Compass Founder and CEO Robert Reffkin cited McLaughlin’s “deep experience and track record building successful real estate businesses” in a press release announcing his new role.
McLaughlin Ventures started in 2001 and will continue to be McLaughlin’s “personal investment entity,” according to the Compass rep. It was not acquired by Compass in conjunction with his return.
In the release, McLaughlin called himself a “performance-based entrepreneur” who can “make a difference in our pursuit of greatness at Compass.”
The company has faced some difficult times in the two years since McLaughlin exited to the VC sector, including several rounds of layoffs and losses of more than $1 billion. But the downsizing may help the company reach its goal of being cash positive this year and Compass President of Growth Rory Golod told TRD in May that the company’s expenditures, especially on technology, would “help attract the best agents and retain them.”
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