Anywhere Real Estate’s Tim Foley resigns

Departure of executive follows layoffs at the brokerage

Tim Foley is going, Anywhere.

The senior executive at Anywhere Real Estate emailed his colleagues Thursday informing them that today is his last day after just 16 months at the brokerage firm.

Anywhere employs nearly 200,000 independent agents in the U.S. and more than 130,000 abroad. It reported being involved in approximately 1.5 million transactions last year.

Like most big brokerages, Anywhere has been under pressure recently. In August it underwent a round of layoffs. Prior to the pandemic, the company was hit with a securities fraud suit as its stock price fell.

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“We have accomplished many great things as a team, during some of the most volatile years the Real Estate industry has ever experienced,” Foley wrote in his farewell message, which was obtained by The Real Deal. “I am grateful to have been your teammate.”

Foley declined to comment for this story. A representative for Anywhere did not immediately respond to requests for comment.

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Foley was hired by Anywhere, which was then called Realogy, in April 2021, according to his Linkedin profile. The executive vice president had held the same post at Coldwell Banker and previously worked for J.P. Morgan.

Realogy announced its rebranding in May as part of a larger strategy to invest in advances for “consumers who are demanding a more seamless, integrated transaction.” At the time, Chief People Officer Tanya Reu-Narvaez said in a statement that the move “is not only a business and strategic transformation, but also a culture change.”