Compass, a tech-enabled real estate services company that includes the largest residential real estate brokerage in the U.S. by sales volume, is merging with Anywhere Real Estate Inc., a real estate brokerage that includes some of the most recognized names in real estate: Better Homes and Gardens Real Estate, CENTURY 21, Coldwell Banker, Coldwell Banker Commercial, Corcoran, ERA, and Sotheby’s International Realty.
The all-stock transaction is expected to have an enterprise value of approximately $10 billion, including the assumption of debt.
The merger pairs Compass’ years of investment in technology, innovative marketing offerings, and real estate professionals with Anywhere’s leading brands, broader and complementary businesses, and global reach.
The combination of these companies will create a premier real estate platform, enabling agents and franchisees to best serve home sellers and home buyers.
“Today marks a monumental step towards our mission to empower real estate professionals with everything they need to grow their business and better serve their clients,” says Robert Reffkin, CEO and founder of Compass, in a release. “I have deep respect for Anywhere’s leadership, agents, employees, culture, and brands. 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.”
“We are excited to unite our renowned brands, international footprint, and leading businesses to build a better real estate experience in concert with Compass,” adds Ryan Schneider, president and CEO of Anywhere. “We have a unique opportunity to utilize the incredible breadth of talent across our companies, especially our world-class agents and franchisees, to deliver even more value to home buyers and home sellers across every phase of the home buying and home selling experience.”