In its first financial report since being acquired by Compass in September, Anywhere Real Estate, in a Nov. 4 Q3 earnings call, showed $1.6 billion in revenue—a 6% increase from the previous year. The company said it is focused on achieving $100 million in cost savings for 2025 and has already identified all necessary savings.
Due to the merger not having been finalized, Anywhere took no investor or media questions following the presentation. “As is typical in situations where there’s a pending merger, the company’s suspending its forward guidance, and we will no longer provide an update on how it’s tracking towards its prior guidance,” explained Anywhere Vice President Tom Hudson.
“Our proposed merger with Compass will create the premier platform where agents, franchisees and employees can thrive as we drive meaningful innovation across the real estate experience,” said Ryan Schneider, Anywhere’s president and CEO. He detailed how the luxury segment had positive results in the quarter.
“Our industry leading luxury businesses anchored by Sotheby’s International Realty, Corcoran and Coldwell Banker Global Luxury continue to be a strategic growth engine,” he said. “Luxury delivered 12% year-over-year volume growth in the quarter driven by a 9% increase in units and a 3% increase in price. We sold 345 homes priced $10 million or higher in Q3, a 30% increase from the prior year.”
Anywhere is also advancing its AI initiatives. The company claimed it is leveraging AI to streamline operations, improve customer service and drive growth.
“We remain focused on accelerating our aggressive AI agenda, deploying generative AI at scale across many parts of our business to drive better experiences faster and at lower costs,” said Schneider. “Since we last spoke (Q2 report), we launched an AI-powered tool that extracts and inputs listing agreements directly into our systems, reducing the time it takes agents to enter a new listing from 10 to 15 minutes to under 60 seconds.
“This not only saves time, but also optimizes workflows, allowing agents to focus more on serving their clients and closing deals. Building on that success, we are leveraging the same technology in our buyer agreements to streamline data entry and automate primary service lead generation.”
Q3 highlights
- Compass and Anywhere jointly announced the signing of a definitive merger agreement to combine in an all-stock transaction. The merger is expected to close in the second half of 2026, subject to approval by both companies’ shareholders, and satisfaction of customary closing conditions, including receipt of regulatory approvals.
- Generated revenue of $1.6 billion, an increase of $91 million year-over-year.
- Reported net loss attributable to Anywhere of $13 million, a decline of $20 million year-over-year. Adjusted net income decreased $16 million to zero versus third quarter of 2024.
- Operating EBITDA of $100 million, inclusive of the $24 million expense related to mark-to-market cash-settled restricted stock unit awards, driven by the 193% advance in third quarter stock price.
- Combined closed transaction volume for the quarter increased 7% year-over-year, with units up 2% and price up 5%.
- Continued strength in luxury with Coldwell Banker Global Luxury, Corcoran and Sotheby’s International Realty brands significantly outperforming the market, with closed transaction volume increasing 12% year-over-year.
- September open volume increased 9% year-over-year. This upward trend continued into October, with closed volume increasing by 9% and open volume increasing 6%, as of October 27.
- Welcomed 13 new U.S. franchisees and one new international expansion to its high-margin franchise network in the third quarter.
- Realized cost savings of $28 million in the third quarter of 2025 and on track to deliver $100 million for full year 2025. Separately, implemented additional temporary cost controls that generated $6 million in savings in the third quarter of 2025.
- Free cash flow of $92 million in the third quarter of 2025 versus $99 million for the corresponding quarter last year.
