C
ompass’s all‑stock takeover of Anywhere Real Estate for roughly $1.6 billion has sparked a wave of speculation about the future of Zillow, the NAR and MLSs. The deal, valued at about $10 billion, will create the world’s largest brokerage, bringing together 340,000 agents across 120 countries and is slated to close in the second half of 2026.

    Shares reacted sharply. Anywhere’s stock surged nearly 50 % on September 22, trading between $10.30 and $10.40 in late‑day trading after Compass offered $13.01 per share—about 84 % above Anywhere’s September 19 close. Compass shares fell roughly 16 %, dipping below $8 by mid‑afternoon.

    Industry voices have weighed in. Boston broker Anthony Lamacchia praised the move as a “major power play,” crediting Robert Reffkin for the feat. Jack Miller of T3 Sixty said the acquisition “defines the moment” of consolidation. Mike DelPrete highlighted the deal’s strategic leverage for Compass’s push for exclusive inventory and its challenge to the existing MLS, NAR and Zillow dominance. Glennda Baker noted that the merger creates a “real estate Goliath” capable of building its own MLS network. Robert Potashnick warned that the real power lies between Compass and CoStar/Homes.com, aiming to monopolize attention, access and data, with consumers bearing the cost. Russ Cofano predicted that the National Association of Realtors could be a major loser as the industry moves from fragmentation to consolidation. Phillip Cantrell saw the deal as proof that traditional brokerage models are rapidly eroding. Jonathan Miller compared the merger to a “Tesla buying General Motors,” noting that while Compass will inherit debt and an outdated model, it will gain a vast private listing network.

    Consumers face a trade‑off: smoother, more efficient service and broader reach versus reduced competition and potentially higher bundled fees. The ripple effects of this consolidation will shape the real‑estate landscape for years to come.