Compass-Anywhere Real Estate merger set to reshape market

The merger of Compass and Anywhere Real Estate would create a company valued at about $10 billion, with a network of roughly 340,000 real estate professionals across 120 countries and territories. Photo courtesy Getty Images.

In a move set to reshape the housing market, two real estate giants are joining forces to form the largest residential brokerage of its kind. 

Compass announced Monday that it will acquire rival Anywhere Real Estate in an all-stock deal, combining its technology-focused brokerage with Anywhere’s globally recognized brands, including Coldwell Banker, Sotheby’s International Realty and Century 21.

The merger would create a company valued at about $10 billion, with a network of roughly 340,000 real estate professionals across 120 countries and territories. Together, the firms closed an estimated 1.2 million transactions last year, according to Compass.

Compass CEO and founder Robert Reffkin, who will lead the combined company, called the agreement a “monumental step” toward empowering real estate professionals.

“By bringing together two of the best companies in our industry, while preserving the unique independence of Anywhere’s leading brands, we now have the resources to build a place where real estate professionals can thrive for decades to come,” Reffkin said.

Anywhere President and CEO Ryan Schneider said the merger will combine Compass’ technology platform with Anywhere’s reach to “deliver even more value to home buyers and sellers across every phase of the home buying and home selling experience.”

The value of the all-stock acquisition of Anywhere is reported to be around $1.6 billion, according to Real Estate News. 

Once the merger closes, Compass shareholders will own about 78% of the company, and Anywhere shareholders about 22%, Compass said. The boards of both companies have unanimously approved the merger, which is expected to close in the second half of 2026, pending shareholder and regulatory approval, according to Monday’s announcement.

The Peninsula market 

 Founded in 2012 as a venture-backed real estate technology startup in New York City, Compass opened its first Bay Area office nearly a decade ago and quickly shook up the local market through a string of rapid acquisitions. In 2019, the company cemented its dominance as the region’s largest residential brokerage after acquiring Peninsula powerhouse Alain Pinel Realtors, nearly doubling its headcount overnight.

Between May 2024 and May 2025, Compass’s Bay Area offices had a total sales volume of almost $28 billion, and the company was named the No. 1 brokerage in the Bay Area for sales volume, according to Compass.

With its latest deal, Compass stands to add thousands more Bay Area real estate professionals from Anywhere’s subsidiaries. Golden Gate Sotheby’s International Realty employs about 400 agents across 21 Bay Area offices, including five in Santa Clara County and one in San Mateo County. Coldwell Banker has an even larger footprint, with more than 1,600 agents in Santa Clara County and nearly the same number in San Mateo County. Century 21 adds another 1,586 agents in Santa Clara County alone.

A bigger tech strategy

By expanding its agent network, Compass also could broaden its use of “pocket listings” — homes marketed privately before appearing on public sites. The practice is at the center of a lawsuit  Compass filed against Zillow in June, alleging the platform blocks properties if they were first advertised elsewhere for more than a day. In the lawsuit, Compass contends the so-called “Zillow Ban,” also used by Redfin and eXp Realty, stifles competition and limits seller choice, according to the  Associated Press.

Pocket listings is a strategy that appeals to sellers because they avoid the digital trail on multiple listing services, which shows how long a home has been on the market and any price cuts — signals that agents say can weaken a seller’s negotiating position. 

To address this, Compass reportedly lets sellers share listings only within its network or post them exclusively on its own website, where such details are hidden and the homes remain invisible on major third-party portals.

Compass said the merger will extend its technology to more real estate professionals, helping them serve clients more effectively and grow their businesses. The company added it will continue investing in tools that enhance the services agents provide to buyers and sellers.

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