Dealmakers who opted into Compass’ much-heralded agent equity program last year are staring at sobering losses — at least on paper. The program incentivizes agents to defer commissions in exchange for stock, plus a sweetener: a 10 percent match from Compass. To compensate agents who deferred sales commissions in 2021, Compass logged a $100 million expense in connection with its agent equity program, according to public filings, suggesting that agents forgoed some $90 million in

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