Founded by Ori Allon and Robert Reffkin in 2012, Compass is one of the wealthiest real estate brokers in America today.
Headquartered in New York City, the real estate giant is known for introducing cutting-edge technology into the real estate sector. Compass is the first company to start a mobile app for real estate agents.
The company aims at disrupting the real estate industry by introducing futuristic technologies, and so far, it has been successful! However, several media outlets have questioned if the company is “just an old-fashioned brokerage with good branding and a lot of cash.”
Compass: A Brief History
The founding fathers of Compass have an illustrious history when it comes to their work experience. Reffkin worked in the White House along with being the chief of staff to the president of Goldman Sachs, while Allan was a Director of Engineering at Twitter. Together, they raised a seed funding of $8 million from companies such as Goldman Sachs, Founders Fund and several other individual investors from top companies like American Express and ZocDoc.
Compass has also acquired several companies since its inception, among others, Conlon, Northwest Group Real Estate and The Hudson Company.
Compass: The Logo
If you have been following our previous blogs, you already know what this section deals with. If you are new, let me take you on a quick tour.
Here, we analyze the logo and try to decode what it is trying to convey. Four categories within the section, namely meaning, evolution, color palette and font will help you understand the logo better.
Let’s quickly dive in.
Meaning
The Compass wordmark evokes the feeling of purpose and direction. The diagonal line within the letter “O” appears like a compass which is an important instrument for navigation. The compass in the middle of the wordmark evokes a sense of progress and advancement which is aligned with the company’s ambition to integrate top technology with the real estate industry.
The compass also symbolizes luck and motivation, especially for the ones who have lost their way. The real estate giant has beautifully used the symbol to convey diverse messages. The symbol is also in line with the real estate industry since geometry and precision are always involved in the business.
Apart from the compass, the color palette and the font accurately convey what the company deals with—pioneering technology in the real estate industry.
Evolution
Compass has only used its current logo since the company’s foundation in 2012. Since this section deals with how a logo has adapted and changed over the years, there is not really much to talk about. However, the logo has all the makings of an iconic insignia!
Color palette
The logo has been executed in two variants: black and white. Compass is very particular about the use of their visual identity in the media. Their official site mentions, “Whether in print or digital the logo should only be reproduced in black or white.”
The color black symbolizes sophistication, mystery and power; while white portrays purity and innocence. Both the colors are aligned with the company’s vision, mission and values.
A proper branding will allow you to tell the world about your company’s vision, mission and values. Here is an interesting read on how rebranding could help your company in various ways eventually setting your brand apart from the crowd.
Related: 17 game changing real estate branding ideas for the smart realtor
Font
The font appears to be custom designed; however, it is very close to the future medium typeface.
Compass: Logo Evaluation
From a logo being relevant to timeless, we test logos under four categories to find out if it truly stands the test of time.
Relevant
A logo’s relevancy is put to the test when it has to deliver accurate messages to the targeted markets. A logo may be brilliant in terms of its design, but what use is it if it fails to communicate its brand identity? A logo becomes relevant when it accurately and effectively communicates the brand identity. A brand uses a combination of various design elements such as colors, symbols and fonts to make the visual identity as relevant as possible.
The Compass logo uses black and white color schemes along with using the compass symbol to accurately communicate what the brand does. The real estate giant has a relevant logo that is easily recognizable and aligned with the brand identity.
Memorable
One of the most important elements of a great logo is its memorability quotient. A logo becomes memorable when it is easy to remember or stands out from the crowd. Again, a designer achieves this through the above-mentioned design elements.
Why is a memorable logo essential? The answer is very simple: a memorable logo helps the consumers to easily recall a brand.
The Compass logo stands out from the crowd which in turn helps consumers recall the brand. The logo has achieved a balance between textual and visual elements increasing its memorability quotient.
Simple
The world today is defined by pace! Whether it is the food we consume or the entertainment we seek, everything needs to be quick. Therefore, one must strive to be simple.
Take a look at the best logos around you. From Apple to Gucci, simplicity has really been the reason behind their success. Simple logos really need not be bland: the world of minimal designs have opened up new avenues for brands to convey their messages fast and as effectively as possible.
The Compass wordmark is simple and minimal. Along with effectively communicating the brand message, the slick design never fails to attract the consumers.
Timeless
A logo designed to follow current trends may not always be the best decision because, like time, trends change. While it is tempting to follow the latest fads, the longevity of a logo is put at stake in doing so. The most striking quality of a logo is its longevity and its ability to connect with its audience, regardless of the time it is being used.
Compass is a young company but the logo appears to have all the elements that make a logo timeless. The following reasons can make the Compass real estate logo timeless:
- Simple design
- Unique
- Relevant
- Quickly grabs attention
- Well balanced design
- Minimal
- Aligned with the company’s mission, vision and values
Here is an interesting video on ‘CEO Robert Reffkin Vision for Real Estate’s Future’:
The result
With all the right elements in place, the Compass logo really belongs right at the top with the very best.
Compass: A Technologically Driven Company
Technology is at the core of this real estate giant. Integration of futuristic technologies has set the brand apart from its pears.
From “AI-Driven Renovation Visualization” to “AI-Driven Client prospecting Recommendations,” Compass has integrated a range of technology tools that has proved beneficial for both agents and clients.
Compass: Is the Company Really What it Claims?
A licensed real estate brokerage, Compass is a legitimate company that operates in major markets in the US. The company has established itself on the basis of technological innovations introduced in the real estate industry for the first time. However, sections within the media have mixed reviews as far as the company is concerned.
An article published on Curbed mentions, “While all of these companies have promised to disrupt the home-buying industry in one way or another, none has dramatically changed the business. Compass is no exception. Unless you care about selling your home through a broker who hands out sleeker-than-average business cards, the consumer-facing process of working with Compass is scarcely different from that of any other brokerage.”
While people may have different views about the company, it has a logo that can go a long-long way.
Conclusion,
The biggest brands in the world today use visual identities that have become synonymous with their businesses. The Compass logo can do what the Coca-Cola or the Apple logos have done for their companies. However, only time will tell if the new age brokerage will survive the steep competition that lies ahead.
Business Development Manager with a demonstrated history of working in the Media and Digital marketing sector, Passionate about innovation and bringing the future into new business solutions.
