C
ompass announced it will acquire Anywhere Real Estate in an all‑stock transaction that values the combined entity at roughly $10 billion, including debt. The deal, approved by both boards, will bring Century 21, Better Homes & Gardens, Coldwell Banker, Corcoran, ERA and Sotheby’s International Realty under Compass’s umbrella. Shares of Anywhere jumped more than 45% after the announcement, while Compass shares fell about 16%.

    Compass operates a CRM and marketing platform for agents and runs its own brokerage and Christie’s International Real Estate. Anywhere, headquartered in Madison, New Jersey, also owns relocation, title and settlement services. The merger will expand Compass’s global agent network from about 40,000 to roughly 340,000 and is expected to add over $1 billion in revenue from escrow, title and related businesses, helping to cut costs and boost cash flow.

    The enlarged network will also allow Compass to extend its platform for pocket listings—exclusive, pre‑market deals—an area currently contested with Zillow. CEO Robert Reffkin said the combination preserves the independence of Anywhere’s brands while creating a long‑term platform for real‑estate professionals.

    Under the terms, Anywhere shareholders receive 1.4 Compass shares per share, valuing Anywhere at $13.01 each. With all outstanding shares, the transaction totals about $1.45 billion, an 84% premium over Friday’s close.

    The deal reflects a broader trend of consolidation in a residential market still hurt by high mortgage rates and rising home prices. Earlier this year, Rocket Companies bought Mr. Cooper for $9.4 billion, and Redfin was acquired by Rocket for $1.75 billion.