Happy New Year: A Year in Review

2019 was called “a transition year” or “a buyer’s market” or just plain “dead” by many of my colleagues. Fortunately, The Hoffman team saw strong numbers for the year, including over 90 closed sales deals in 2019 (plus another 29 in contract set to close in January) and a listing volume of closed deals totaling more than $100 million (again).

I believe — and our team results bear out — that there is always opportunity in every type of market. The Hoffman Team worked especially hard to find and close deals for our clients this year. We helped sellers leverage the advantages of a landscape rife with buyers with smart pricing and presentation, and we assisted them in realizing the equity they thought had washed away in what the press called the “bottom of the market” in New York City. For buyers, we navigated the bountiful listings to locate the perfect home at the perfect price. Over and over, we turned negatives into positives, giving our clients opportunities where others told them no. Therefore, this newsletter is dedicated to the clients who trusted The Hoffman Team to fulfill their needs. Thank you for taking the leap with us when most wouldn’t dare to skate out onto the ice!

Also, I need to give props and accolades to Compass. Without this company and its innovative approach and support, The Hoffman Team wouldn’t be able to care for clients as well as we do. Smart moves by the brokerage have propelled Compass to 40 percent market share in San Francisco and over 20 percent in New York City. Overall, Compass met or exceeded its goal of entering 20 major real estate markets with a 20 percent market share by 2020 in each market! Congratulations to Robert Reffkin and the rest of the executive management team that made that challenging objective a reality.

For The Hoffman Team, 2020 will start with a bang with over 30 listings set to release after New Year’s and almost 35 set to close. Through the end of this year and into the next, we will continue to exceed expectations by capitalizing on opportunities for our buyers, sellers, renters and investors. That’s been The Hoffman Team’s recipe for success since the day we began — Focus on client needs and desires and make them the center point of our flywheel.

From everyone at The Hoffman Team, we wish you a wonderful holiday season and an auspicious New Year.

COMPASS News

Compass agents now operate out of 325 offices (87 more than last year) across 135 cities.

Compass agents have earned close to or exceed 20% market share in some of the most important markets in the country (eg, Manhattan, San Francisco, Marin, Danville, multiple Silicon Valley sub-markets, Beverly Hills, Malibu, Santa Monica, Cambridge, Washington D.C.).

We announced a raise of over $350 million of new capital at a $6.4 billion valuation this summer from a handful of investors, bringing our total capital raised to over $1.5 billion. As has always been true, we have $0 in debt. This lets us invest more in building tools and support for agents than any other company.

We hired more than 850 new employees out of 144,000 applicants. That makes our acceptance rate just 0.6% — more selective than Harvard. Check out our open roles to recommend great people.

We received some nice recognition for our culture and technology, like LinkedIn’s “Top 50 hottest U.S. startups to work for right now” (we were #9), Fast Company’s “Best Workplaces for Innovators”, Glassdoor’s “Best Places to Work 2020” and the Webby Award for Best Real Estate Website.

Local Events

No Pants Subway Ride Day | Jan. 12

One of the best and most amusing NYC events in January is the No Pants Subway Ride created by Improv Everywhere’s Charlie Todd. In 2002, the event had only 150 participants in its first year, but now the prank is an international sensation with over 25 countries involved. More information

NYC Restaurant Week | Jan. 21 - Feb. 9

With prix-fixe meals at over 360 of the city’s finest establishments, the highly-anticipated Restaurant Week is back! From January 21st through February 9th you are invited to sample the incredible array of eateries that make up NYC’s culinary culture. Book your table here and get ready for some delicious eats!

NYC Broadway Week | Jan. 21 - Feb. 9

One of our city's greatest traditions returns! NYC Broadway week only happens twice a year and will be running from January 21st - February 9th 2020. Get your 2-for-1 tickets starting on January 8th, and enjoy many of NYC’s best Broadway shows. Learn more here.