Compass Announces Combination with Anywhere Real Estate in All-Stock Transaction
“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,” said Compass CEO & Founder Robert Reffkin. “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.”
I haven’t fully digested this news yet, but here is my first take. Compass didn’t end up as a “technology company.” In the end they became just an old school brokerage. Buying the brands of the old guard seems to confirm it.
Also, isn’t all the agent growth happening in the so-called cloud based brokerages like eXp and Real that also provide additional “revenue sharing” opportunities?
Looking back at Brian Boero’s prediction of 2 million real estate agents by 2030 he says:
“Second, the explosion of recruiting residual brokerage models in the past decade ensures that there will now always be lots of people who jump into the biz because they want to build a downline, not sell real estate.”
Rob Hahn and I are recording later today, so our Industry Relations podcast will drop soon.
The consolidation continues…
