Robert Reffkin’s Life and Career as an Entrepreneur

Robert Reffkin is the cofounder and CEO of Compass, a multibillion-dollar real estate firm and technology company that supports property buying, selling, and workflow. Robert cofounded Compass with Israeli-born programmer and tech entrepreneur Ori Allon in 2012. From a single office in New York City, Robert built a diverse, nationwide network of nearly 20,000 real estate agents and more than 2,000 full-time employees. With its focus on tech, Compass revolutionized the real estate industry, and the company was listed on the New York Stock Exchange in April 2021.

Robert is also a celebrated author. In his memoir, No One Succeeds Alone: Learn Everything You Can From Everyone You Can, Robert explores various aspects of his life, from his real estate career ascension to his startup experience. He also discusses how he builds relationships and sets himself up for success.

Robert is the youngest Black billionaire in the United States; he landed on the Forbes 30 Under 30 list. Here are a few more facts about Robert:

1. 1. His mother inspired him. Robert was born to an Israeli mother and Black father in Berkeley, California. His mom, Ruth Reffkin, raised him; Ruth started running a daycare when Robert was an infant and, eventually, became a real estate agent. When Robert founded Compass, his mom was one of its network's first real estate agents.
2. 2. He started his first business in high school. Robert tapped into his entrepreneurial skills beginning in high school, where he started a successful DJ business called Rude Boy Productions with savings from his bar mitzvah and babysitting job.
3. 3. He worked on Wall Street. Robert did not set out to work in real estate. He has an undergraduate degree from Columbia University in history and economics-philosophy. After graduating from Columbia Business School, Robert held jobs at the management consulting firm McKinsey & Company, the financial services titan Lazard, the investment banking stalwart Goldman Sachs (where he was chief of staff for President and Chief Operating Officer Gary Cohn), and even the US Department of Treasury as a White House fellow.
4. 4. He founded a non-profit. In 2009, he launched his nonprofit, America Needs You, which provides mentorship and career development for first-generation college students. The program allows young people to explore careers and hone their personal skills while receiving networking opportunities and advice, grants, and other types of support. America Needs You focuses on core values such as integrity, accountability, community, and results to foster positive development and the highest chance of success for youths.
5. 5. He loves to run. In his spare time, Robert raises money for charity through running races. Beginning in 2007, Robert set out to run a marathon in each state to raise money for America Needs You. Over six years, Robert ran a marathon race in all fifty states and raised one million dollars.

Robert is the CEO of one of the largest brokerage firms in the US. You can expect these five highlights and more from his class on buying and selling real estate, available exclusively on MasterClass:

1. 1. Get insight on how to sell your home. When you’re ready to sell your home, it’s not just about immediately putting it on the market. There is an art and science to timing the real estate cycle, so you get the best deal possible. “When you think about timing to sell a home, it is market-dependent in a couple of different ways,” Robert says.
2. 2. Know how to read a real estate listing. Robert will walk you through how to decode a real estate listing and the real estate terminology to know. Here’s one crucial tidbit: “The asking price is not the price of the home. It is just a strategy to get the right buyer to buy the home at the right price.”
3. 3. Learn the questions to ask before buying a home. Robert leads you through the four questions you should ask yourself before purchasing a home: “One is, ‘What is the right home that you want?’ Two is, ‘What is the neighborhood that you want?’ Three is, ‘What is your timing?’ And then four is, ‘How much do you want to spend, and how much do you want to have in your bank after you spend?’”
4. 4. Negotiate properly. Robert will give you strategies to negotiate the price of the home you want to buy. “For any buyer looking to buy a home, you should move incredibly fast to see the homes you want. You should move very fast to put in offers that are realistic,” Robert says. “But you should move slow when it comes to providing a counteroffer.”
5. 5. Pursue a career as a real estate agent. If you want to go from buying and selling your own homes to helping people buy and sell their homes, Robert can guide you to pursue a real estate agent career. He advises: “If you're thinking about starting, I highly recommend that you join someone's team so you can learn under their experience.”

To learn more about entrepreneurship, consider the following classes:

1. 1. Howard Shultz on business leadership: Howard Schultz didn’t have an MBA or an Ivy League degree, but he had a dream of building an enduring company. In Howard’s class the Starbucks CEO shares lessons from nearly forty years of leading one of the world’s top brands, including how to face self-doubt when starting your journey as an entrepreneur.
2. 2. Richard Branson on disruptive entrepreneurship: Sir Richard Branson is an entrepreneur and adventurer. He’s founded or acquired more than 400 companies in various industries for the Virgin Group. Watch Richard’s class to learn how to take risks, solve problems, and support your team.
3. 3. Sara Blakely on self-made entrepreneurship: Sara Blakely was once a door-to-door fax machine salesperson. Now, she’s known as the founder of Spanx, a billion-dollar company. Watch Sara’s class to learn how to develop your ideas, start a business, and hire a team.

If you’re looking for your dream home—or want to help others find their dream home—it’s essential to know the real estate industry. Discover Robert Reffkin’s approach to buying and selling real estate, his process for navigating the market, and tips for becoming a successful entrepreneur when you sign up for the MasterClass annual subscription.