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October 8, 2020

Compass buys Modus

Compass, a national residential brokerage firm that's been gradually expanding its local presence, has acquired the startup Modus. The latter platform, with a staff of about 60, facilitates the title and escrow process for homebuyers. It was founded two years ago by Alex Day, Jai Sim and Abbas Guvenili. CEO Day said in a statement, “We are incredibly excited to become part of the Compass team at this pivotal time in our industry, and look forward to joining in their mission of building the future of real estate for agents and their clients.” Terms were not announced for the deal. Compass opened a Seattle office last year. It has over 18,000 brokers associated with its platform, and says it did $100 billion in deals last year.




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