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ompass, the New York‑based real‑estate platform, has agreed to acquire Anywhere Real Estate in an all‑stock deal that will create a combined enterprise worth roughly $10 billion, including debt. The transaction, approved by both boards, will merge Compass’s 40,000‑agent network with Anywhere’s 300,000‑plus agents, bringing the total to about 340,000 worldwide. Compass also expects to add more than $1 billion in revenue from Anywhere’s escrow, title and relocation services, and anticipates lower operating costs and higher cash flow.
Shares in Anywhere jumped over 48 % in Monday’s afternoon trade, while Compass shares fell about 16 %. Under the terms, Anywhere shareholders receive 1.4 Compass shares for each Anywhere share, valuing each Anywhere share at $13.01 and totaling roughly $1.5 billion—an 84 % premium to Friday’s close.
Compass operates a cloud‑based platform for agents that handles customer relationship management, marketing and other tasks, and runs its own brokerage and Christie’s International Real Estate. Anywhere, headquartered in Madison, New Jersey, owns several leading brokerage brands—Century 21, Better Homes & Gardens, Coldwell Banker, Corcoran, ERA and Sotheby’s International Realty—and also runs relocation, title and settlement businesses.
The merger will give Compass an estimated 18 % share of the U.S. brokerage market, according to UBS analyst Chris Kuntarich. By expanding its agent base, Compass can also widen the use of its platform for pocket listings—off‑market deals that are currently at the center of a legal dispute with Zillow.
“By uniting two of the industry’s best companies while preserving the independence of Anywhere’s flagship brands, we now have the resources to build a thriving ecosystem for real‑estate professionals for decades,” said Compass founder and CEO Robert Reffkin.
The deal reflects a broader trend of consolidation in residential real estate, as the sector struggles with a multi‑year housing slump driven by high mortgage rates and rising home prices. Earlier this month, Rocket Companies completed an all‑stock acquisition of Mr. Cooper for $9.4 billion, and had recently bought Redfin for $1.75 billion.
Note: The headline previously misstated the acquisition value; the $10 billion figure refers to the combined enterprise value.
