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nywhere Real Estate's 2024 financials paint a picture of resilience in the face of industry-wide challenges. Despite a net loss of $128 million, the brokerage giant recorded revenue of $5.7 billion, up $56 million year over year. This growth was fueled by a 7% increase in average sale price to $497,494, offsetting a 3% decline in transaction count.
CEO Ryan Schneider attributes this success to cost-saving initiatives that generated $125 million in savings last year. These efforts will continue in 2025, with the company aiming for an additional $100 million in cost reductions. To achieve this goal, Anywhere will focus on new technologies and automation, building on its existing use of artificial intelligence.
Schneider highlighted the benefits of AI, citing a 40%-plus improvement in conversion rates for leads processed through the system. The company's generative AI capabilities have also streamlined document processing, reducing error rates to as low as one in 5,000 documents.
Anywhere's growing franchisee count is another area of focus, driven by the value proposition offered to franchisees following commission lawsuit settlements. Schneider emphasized that the company's scale and resources provide a unique advantage in navigating industry changes.
As the real estate market continues to evolve, Anywhere is poised for growth in 2025. The company has launched Reimagine 25, a transformative initiative leveraging emerging technologies like generative AI to deliver better experiences for customers at lower costs. This effort will serve as the foundation for continued cost reductions and innovation.
Schneider also noted that Anywhere is well-positioned to explore M&A opportunities in 2025, driven by industry-wide consolidation and the company's liquidity. The CEO expressed enthusiasm for augmenting growth through strategic acquisitions, citing the company's unique assets and technology capabilities.
In addition to its business strategy, Anywhere is taking a proactive stance on industry issues, including the National Association of Realtors' Clear Cooperation Policy. Schneider advocated for reforms rather than a blanket repeal, emphasizing the importance of transparency and access to all available inventory for consumers.
