SoftBank-Backed Compass Real Estate Brokerage Taps Banks for IPO

Compass, a SoftBank-backed company that’s among the largest real estate brokerages in the U.S., has selected underwriters for a potential initial public offering, according to a person with knowledge of the matter.

The New York-based startup is working with Goldman Sachs Group Inc. and Morgan Stanley ahead of a listing that’s slated for 2021, said the person, who requested anonymity because the information isn’t public.

Representatives for Compass and Goldman declined to comment. A spokesman for Morgan Stanley didn’t immediately have a comment.

Compass was founded in 2012 by Ori Allon and Robert Reffkin, a Goldman alum who ...