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ompass Inc., the largest U.S. real‑estate brokerage, is set to become a global powerhouse after announcing a definitive all‑stock merger with Anywhere Real Estate Inc., the second‑largest firm. The combined entity will have an enterprise value of roughly $10 billion, including debt, and will unite about 340,000 agents worldwide across every major U.S. city and 120 countries. CEO and founder Robert Reffkin said the deal “marks a monumental step toward empowering agents with everything they need to grow and serve clients.” He praised Anywhere’s leadership, culture, and brands, noting that the merger preserves the independence of its flagship names while providing resources to sustain long‑term success.
The transaction is slated to close in the second half of 2026. In Miami‑Dade and Key Biscayne, where brand reputation and exclusive listings dominate, the new Compass‑Anywhere umbrella could reshape agent alignment and listing control, intensifying competition with firms such as One Sotheby’s and Coldwell Banker that already vie for luxury properties.
Compass, headquartered in New York and founded in 2012, has rapidly expanded to 33,000 agents in 96 markets and 400 offices, generating $231 billion in transaction volume in 2024. Anywhere Advisors, with 179,200 agents in more than 50 metros, owns Coldwell Banker, Century 21, Sotheby’s International, Christie’s International, Corcoran, and Better Homes & Gardens, and reported $184 billion in 2024 sales. The merger pairs Compass’s investment in technology, innovative marketing, and agent support with Anywhere’s leading brands, complementary services, and global reach to create a premier platform.
Under the agreement, each Anywhere common share will be exchanged for 1.436 Compass Class A shares, valuing an Anywhere share at $13.01 based on Compass’s 30‑day VWAP as of September 19, 2025. After closing, Compass shareholders will hold about 78 % of the combined company on a fully diluted basis, with Anywhere shareholders owning roughly 22 %. This consolidation follows industry trends such as Rocket’s acquisition of Redfin, signaling a shift toward fewer, more powerful players.
