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ompass has announced it will acquire Anywhere Real Estate in an all‑stock transaction valued at roughly $1.6 billion, creating the world’s largest residential brokerage. The combined entity will be worth about $10 billion, with a network of approximately 340,000 agents operating in 120 countries and territories. Together, the firms closed an estimated 1.2 million deals last year.
Robert Reffkin, Compass’s founder and CEO, will head the new company. He described the deal as a “monumental step” that will empower agents by merging Compass’s tech‑driven platform with Anywhere’s global brands—Coldwell Banker, Sotheby’s International Realty, Century 21, and others—while preserving each brand’s independence. Ryan Schneider, Anywhere’s president and CEO, said the partnership will combine Compass’s technology with Anywhere’s reach to deliver greater value to buyers and sellers throughout the transaction process.
After the merger, Compass shareholders will own about 78 % of the combined firm, with Anywhere shareholders holding the remaining 22 %. Both boards have unanimously approved the transaction, which is expected to close in the second half of 2026, subject to shareholder and regulatory approval.
Compass began in 2012 as a venture‑backed tech startup in New York City and expanded into the Bay Area a decade later. A 2019 acquisition of Alain Pinel Realtors made it the region’s largest brokerage, doubling its headcount overnight. From May 2024 to May 2025, Compass’s Bay Area offices generated nearly $28 billion in sales volume, earning the top spot for volume in the market.
The merger will add thousands of Bay Area agents from Anywhere’s subsidiaries. Golden Gate Sotheby’s International Realty has about 400 agents across 21 offices, including five in Santa Clara County and one in San Mateo County. Coldwell Banker boasts over 1,600 agents in Santa Clara and a similar number in San Mateo, while Century 21 contributes another 1,586 agents in Santa Clara alone.
Expanding its agent base also allows Compass to grow its use of “pocket listings,” which market homes privately before public exposure. The practice is central to a lawsuit Compass filed against Zillow in June, alleging that Zillow’s “Ban” prevents properties from being listed if they were first advertised elsewhere for more than a day. Compass argues that the ban stifles competition and limits seller choice, a claim echoed by Redfin and eXp Realty.
Pocket listings appeal to sellers because they conceal a home’s time on market and price changes, information that can weaken negotiating power. Compass reportedly lets sellers share listings only within its network or post them exclusively on its own website, keeping details hidden from major third‑party portals.
The merger will extend Compass’s technology to a broader agent base, enabling professionals to serve clients more effectively and grow their businesses. The company will continue investing in tools that enhance the services agents provide to buyers and sellers.
