Compass Acquires Anywhere for $1.6B in Consolidation Push

Residential real estate’s two largest brokerages are combining.

Compass is acquiring Anywhere Real Estate, the parent company for Corcoran, Sotheby’s International Realty, Coldwell Banker and Century 21, the companies announced early Monday. The all-stock merger agreement values Anywhere at $1.6 billion, and Compass shareholders will own 78 percent of the combined entity.

The transaction is expected to close in the second half of 2026, and the combined company’s enterprise value would be an estimated $10 billion.

The deal combines the two largest brokerages in the country by transaction volume, according to RealTrends. Compass did over $231 billion in transaction volume in 2024, while Anywhere did almost $184 billion.

“We are excited to unite our renowned brands, international footprint, and leading businesses to build a better real estate experience in concert with Compass,” Anywhere CEO and president Ryan Schneider said in a statement.

Compass CEO Robert Reffkin, who would lead the combined firms, called the deal a “monumental step towards our mission to empower real estate professionals” and said Anywhere’s brands will retain their independence.

The deal represents a landscape-shifting agreement between the two firms during a time of rapid consolidation and slow sales growth.

Compass has led much of the dealmaking in the past several years, but the agreement with Anywhere is larger than any of its recent transactions. Last year, it added the country’s eighth-largest brokerage, @properties, as well as Christie’s International Real Estate, which counted more $20 billion in deal volume. It also picked up a number of smaller regional brokerages.

The merger relates to several trends in the industry. Compass seeks to grow its inventory and ancillary revenue services while managing its operating costs. The combined company will have more than 340,000 agents under its umbrella, and Compass expects to add over $1 billion in revenue from Anywhere’s franchise, title and escrow, and relocation operations.

In conjunction with the deal, Compass obtained $750 million in post-closing debt financing from Morgan Stanley.