Zillow's Legal Rival, Compass Acquires Competitor in $4.2 Billion Deal

The U.S. brokerage firm Compass has agreed to acquire rival brokerage group Anywhere in an all-stock merger valued at about $4.2 billion, the companies announced Monday.

Compass CEO Robert Reffkin will lead the combined company.

“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,” Reffkin said. “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.”

The merger will bring together around 340,000 agents across the U.S. and nearly 120 countries. Compass also stands to gain Anywhere's relocation services and insurance businesses.

Anywhere, which owns the well-known brands Better Homes and Gardens Real Estate, CENTURY 21 and Coldwell Banker, is one of the largest brokerage businesses in the United States, while Compass is the biggest in the country by transaction value.

Anywhere shareholders will receive 1,436 shares of Compass Class A stock for each Anywhere share, valued at $13.01 based on Compass’s 30-day average price as of Sept. 19, 2025. Upon completion, Compass shareholders will own nearly 80% of the combined company and Anywhere shareholders just over 20%.

The transaction, for which Compass secured $750 million in financing from Morgan Stanley Senior Funding,  is expected to close in the second half of 2026, subject to shareholder approval.

New York-based Compass is embroiled in a bitter dispute with Zillow over private listings. The potential ramifications of a June lawsuit brought by Compass against the portal operator could entirely reshape how residential properties are marketed in the United States.

While the debate about private listings continues and the outcome of the legal case remains uncertain, Compass has just acquired even more industry clout.

Below: Compass SVP of Growth & Communications, Rory Golod explains why Compass is suing Zillow on a recent episode of the PPW Pod.