Compass deal a ‘major power play’ that could disrupt the industry 

"Massive." "Incredible." "Goliath." 

Those were just a few of the reactions shared by industry leaders in the wake of today's unprecedented brokerage acquisition announcement. Meanwhile, stock market investors were quickly taking advantage of soaring share prices.

Following the news of Compass' roughly $1.6 billion acquisition of Anywhere Real Estate — an all-stock transaction with a premium price tag — Anywhere's stock jumped nearly 50% on Sept. 22, settling in the $10.30-$10.40 range in late-day trading. 

Compass offered around $13.01 per share in the stock swap, about 84% more than the value of Anywhere's shares as of market close on Sept. 19. Compass's stock took a hit, however, trading under $8 a share by mid-afternoon, down around 16%.

Real estate leaders have also been weighing in on the deal — one that creates the world's largest brokerage enterprise, worth around $10 billion and home to some 340,000 real estate professionals spanning 120 countries and territories. The deal is expected to be finalized in the second half of 2026.

Here's what some industry insiders and observers have been saying:

Boston-based broker/owner Anthony Lamacchia, on Instagram: "This is a major power play, you have to give credit where it's due. I give credit to Robert Reffkin for pulling off such an incredible feat in the real estate industry."

Jack Miller, CEO of real estate consultancy T3 Sixty: "If anybody doubted we were in an era of industry consolidation, this acquisition by Compass defines the moment."

Mike DelPrete, real estate tech strategist, on LinkedIn: "Such a massive deal. The press release leaves out one of the most important strategic factors — and in 10 years time, what I think this deal will be known for — the leverage it now gives Compass in its ongoing push for exclusive inventory, but really its challenge to the existing MLS, NAR and Zillow hegemony. Game on."

Glennda Baker, CEO of Glennda Baker & Associates in Atlanta, on LinkedIn: "Compass acquiring Anywhere Real Estate doesn't just create a bigger brokerage, it creates a real estate Goliath. It's now arguably the most powerful player in the industry, big enough to challenge Zillow, NAR, and essentially the ability to create a viable MLS with their own network."

"For consumers, there's the promise of smoother, more efficient service and broader reach, but also the risk of less competition and higher bundled fees. Either way, the ripple effects will be felt across the industry for years."

Robert Potashnick, Real Estate Intelligence Agency, on LinkedIn: "Let's not sugarcoat this. The real story isn't Compass buying Anywhere. It isn't Coldwell, Century 21, or Sotheby's. Those brands are pawns. The real axis of power is between Robert Reffkin (Compass) — desperate for stock price leverage and growth — [and] Andy Florance (CoStar / Homes.com) — determined to control the buyer portal and funnel."

"And make no mistake: This isn't about agents, firms or even Anywhere. Those are bargaining chips. This is about Compass and Homes.com building a monopoly on attention, access and data — with the consumer paying the price."

Russ Cofano, former CEO of Collabra Technology, on LinkedIn: "There are always winners and losers in large deals like this and it certainly seems that one of the big (eventual) losers will be the National Association of Realtors. NAR formed its historical strength around a fragmented industry of brokers around the country. Those days are over and the power of this combined entity and their progressive attitude around the trade group's practices will be the foundation for major change."

Phillip Cantrell, founder, Tennessee-based Benchmark Realty, on LinkedIn: "The devil's in the details, but my initial thought is WOW. Proof that the traditional model players in our industry are slipping faster than I imagined. All bets are off in the consolidation game of the traditional brokers."

Jonathan Miller, president and CEO, Miller Samuel consultancy, in Housing Notes: "The real estate brokerage industry's Tesla is buying General Motors. Given the gutting of federal regulators by DOGE, the timing seems perfect. Although Compass will inherit a ton of debt, an unwieldy management structure, and an outdated business model, it will get a lot more listings to feed into its private network. Anywhere probably got a 100% premium (a wild guess) for their stock based on today's performance of each company, but this is a long game and Compass may have already won."