The companies all debuted within a few slots of established player Realogy and highlight both the role of tech in real estate and the rise of bitter rivalries.
In news that is likely to fuel the fires of real estate’s biggest rivalries, Zillow, Opendoor and Compass all made their debuts Monday on the prestigious Fortune 500 list.
The list, which ranks companies by revenue, awarded the 424th spot to Zillow. IBuying giant Opendoor was one slot, behind at 425, while Compass scored the 495th place. The triple debut comes after an explosive two years in the housing market, with soaring prices and record sales across the U.S., and highlights the ascendency of the real estate industry generally.
In the case of Opendoor and Compass, their debut on the list also comes shortly after the firms went public. Opendoor debuted on the stock market in late 2020, while Compass began selling shares in spring 2021.
Landing on the list also puts the trio of companies in rare company. The only other dedicated brokerage firm on the list was Realogy, which scored the 427th place. The list refers to parent of brands such as Coldwell Banker and Corcoran as Realogy, though the company changed its name to “Anywhere” earlier this month.
The fact that a trio of tech companies are now standing side-by-side with Anywhere is likely to only intensify already bitter rivalries within the business. In particular, Anywhere and Compass are currently locked in a lawsuit, with the former accusing the…