Residential Real Estate Brokers and Non-Competes
By now readers of this blog know our position. We strongly believe that non-compete and non-solicitation clauses are bad. They are bad not only for the unsuspecting/unknowing employee but they are bad for innovation, bad for economic growth and development, and bad for the economy.
It appears that some business owners agree with me. Robert Reffkin is the founder and CEO of Compass, a company providing brokerage services in the residential sector with multiple offices in the United States. Reffkin worked at Goldman Sachs as Chief of Staff to the President & COO following five years working in the firm’s private equity arm. Prior to Goldman Sachs, he worked at Lazard and McKinsey & Company. In short, he is a bright, well-educated, and experienced business man.
What does he have to say about non-competes in his industry? He doesn’t like them. Reffkin just wrote an article for the Commercial Observer titled, “Get Rid of Those Pesky Non-Compete Clauses.” I admire Reffkin’s vision and think you will too after reading his article.