Compass has agreed to buy Anywhere Real Estate in an all-stock deal worth about $10 billion, combining two of the US’s largest real estate firms to form the biggest residential brokerage platform.
Deal Details & Structure
Compass will acquire Anywhere in an all-stock transaction. Under the terms, Anywhere shareholders will receive 1.436 shares of Compass Class A stock for each share they currently own. The deal values Anywhere at around $1.6 billion, with the combined enterprise value (including debt) estimated at $10 billion. The transaction is expected to close in the second half of 2026, pending shareholder and regulatory approvals.
Scale & Scope Post-Merger
When the deal is completed, the merged organization will represent approximately 340,000 real estate professionals working across roughly 120 countries and territories. Anywhere owns or franchises well-known brands like Coldwell Banker, Century 21, Corcoran, and Sotheby’s International Realty among others. Compass aims to preserve the identity of these brands while integrating operations.
Strategic Rationale & Market Context
Compass says this acquisition is a “monumental step” toward expanding its footprint, especially in luxury real estate, and enhancing its technology, marketing, and ancillary services (title, escrow, relocation). The deal reflects a trend of consolidation in a sluggish residential real estate market, as firms seek scale and diversified revenue streams to weather slow home sales and margin pressures.
Financial Implications & Risks
Anywhere’s valuation includes significant debt, which Compass will assume. The companies expect over $200 million in operational synergies (cost savings) from combining resources. However, potential risks include integrating large numbers of agents and brands, maintaining brand identity, regulatory scrutiny, and ensuring that the merging of tech platforms and operations does not disrupt existing business.
