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ompass, a New York‑based real‑estate platform, will acquire Anywhere Real Estate in an all‑stock deal that values the combined entity at roughly $10 billion, including debt. The transaction, approved by both boards, will bring Century 21, Better Homes and Gardens, Coldwell Banker, Corcoran, ERA and Sotheby’s International Realty under Compass’s umbrella.
Shares of Anywhere jumped more than 48% in Monday afternoon trading, while Compass shares fell about 16%. Compass operates a CRM and marketing platform for agents, its own brokerage, and Christie’s International Real Estate. Anywhere, headquartered in Madison, New Jersey, also runs relocation, title and settlement services.
The merger will expand Compass’s global agent network from roughly 40,000 to about 340,000. Compass expects to add over $1 billion in revenue from Anywhere’s escrow, title and ancillary businesses, and anticipates cost reductions and improved cash flow. Analysts project the combined brokerage will hold about 18% of the U.S. market share.
With a larger agent base, Compass can extend its platform to market listings on a limited basis before they appear publicly—a practice known as pocket or office exclusive listings. This has sparked a legal dispute with Zillow over listing practices.
CEO and founder Robert Reffkin said, “By uniting two of the industry’s leaders while preserving the independence of Anywhere’s flagship brands, we now have the resources to create a thriving environment for real‑estate professionals for decades.”
Under the deal, Anywhere shareholders receive about 1.4 Compass shares per Anywhere share, valuing each Anywhere share at $13.01. This equates to roughly $1.5 billion in total, an 84% premium over Anywhere’s Friday closing price.
The acquisition reflects a broader trend of consolidation in residential real estate, which has been strained by a multi‑year U.S. housing slowdown, high mortgage rates and rising home prices that have limited buyer activity. Earlier this year, Rocket Mortgage announced an all‑stock purchase of Mr. Cooper for $9.4 billion, and a few weeks prior it had acquired Redfin for $1.75 billion.
An earlier version of this story mistakenly reported the acquisition value as $10 billion in the headline; that figure refers to the enterprise value of the combined companies.
