Compass Hyderabad centre building mobile-first interface for realty sector
Hyderabad: The US-based Compass’ India Development Centre (IDC) located at Hyderabad’s Financial District represents the only development centre of the real estate tech company outside the US and is playing a key role in the company’s tech development bringing in artificial intelligence, mobile applications, and data analytics capabilities to the global team. Compass Inc provides […]
Hyderabad: The US-based Compass’ India Development Centre (IDC) located at Hyderabad’s Financial District represents the only development centre of the real estate tech company outside the US and is playing a key role in the company’s tech development bringing in artificial intelligence, mobile applications, and data analytics capabilities to the global team.
Compass Inc provides an end-to-end platform that empowers residential real estate agents to deliver service to seller and buyer clients.
Joseph Sirosh, CTO, Compass told Telangana Today in an exclusive interview, “The Compass IDC at Hyderabad complements the company’s tech hubs in New York City, Seattle and Washington DC. The IDC is tasked with making advancements across the technology stack, working across technology verticals, which include mobile applications, cloud computing, artificial intelligence & data analytics for Compass’ client base.”
“The IDC has over 200 employees, with agile, highly-skilled software engineers and product teams who have developed multiple cloud-based services since launching the centre in March 2020. The entire Android app has been built here. Hyderabad team is playing a big role in creating mobile-first features for real estate and is a first-class development centre,” he added.
Spread of operations
The company’s India headcount is about 240, with over 200 employees in product and engineering. With a large centre in Hyderabad, the company is now expanding to cities such as Bengaluru (artificial intelligence centric) and Gurugram. New hiring will happen in India adding up to 200 employees, with about 100 new jobs in Hyderabad in the next 12 months.
Compass has a global technology talent pool comprising 1,500 product and engineering professionals, including in India. In addition to strengthening its base in the US, Compass is eyeing Canada and other English-speaking markets, following which other markets will be explored.
“We hold six per cent market share in the US with $6.4 billion in revenues. We have been looking at acquisitions of proptech companies within different States of the US. Compass is trying to create a LinkedIn like platform for agents globally, through the Bengaluru centre” Sirosh added.
Addressing digital gaps
Digital transformation has happened across sectors, but the real estate sector has largely been lagging. To address the gap, in the US, Compass came with the first technology platform to serve the needs of real estate agents, who carry out almost 90 per cent of residential transactions. The market is worth $2 trillion and the real estate agents connect to several other stakeholders in the sector.
The company’s platform provides an integrated suite of cloud-based software for customer relationship management, marketing, client service, brokerage services, and other critical functionalities, all custom-built for real estate.
He further added, “We are using artificial intelligence to be able to predict the potential of properties going to market and arriving at appropriate valuation of properties to aid real estate agents. We have built a platform in the cloud and will be able to customise to meet the needs of emerging real estate classes. Compass has enabled 15 per cent of the properties on its platform with 3D virtual reality technology for better digital experience. The platform also has a video messaging feature.”
Regulatory compliance
The platform developed by Compass helps in meeting all regulatory compliance needs including title and escrow to smoothen transactions. For agents, the platform acts as an end-to-end solution helping them from marketing until the successful closure of transactions.
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