"After the merger, The Capitol Forum's analysis showed that Compass would control 30% or more of local brokerage markets across the U.S. from Seattle, San Francisco and Los Angeles on the West Coast to Boston, parts of New York City and Washington, D.C. on the East Coast. The combined brokerages would have market dominance in markets like Honolulu, Fort Lauderdale, Florida, Greenwich, Connecticut, Newport Beach and Los Gatos, California, Denver, St. Louis, Houston and Austin."
"The Capitol Forum argues that this 30% market share threshold is imperative because anything above that number is presumptively illegal according to Merger Guidelines published by the Department of Justice (DOJ) and the Federal Trade Commission (FTC) in 2023. Prior to announcing the proposed merger, Compass CEO Robert Reffkin had widely discussed his firm's goal of achieving 30% market share in the brokerage's top-30 cities. The Anywhere acquisition would accelerate this plan in many metro areas."
"According to the publication's analysis of RealTrends Verified data, Compass's proposed acquisition of Anywhere could create market share concentrations well above presumptively illegal thresholds, in at least a dozen states. The analysis is based on the total sales volume of individual agents and brokerage teams in 2024, who submitted their data for the 2025 RealTrends Verified Rankings."
RealTrends Verified 2024 sales-volume data for individual agents and brokerage teams submitted for the 2025 rankings indicate that combining Compass and Anywhere would produce high local market shares. Regions with more than 100 ranked agents or teams and including both Anywhere’s owned and franchise brokerages show combined shares of 30% or higher across many metros from Seattle, San Francisco and Los Angeles to Boston, parts of New York City and Washington, D.C. A combined Compass and Anywhere would hold roughly 40% in Los Angeles and roughly 46% in Raleigh. Compass and Anywhere are expected to argue that franchised brokerages should be excluded from market-share calculations because franchisees operate as separate businesses. A 30% share exceeds the DOJ/FTC 2023 Merger Guidelines’ presumptively illegal threshold and would accelerate Compass’s previously stated goal of 30% market share in top cities.
Read at www.housingwire.com
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