On January 9, the residential real estate industry was rocked by the early closing of the Compass/Anywhere merger, a deal announced in September of 2025 and not expected to close until the end of this year. While speculation continues regarding just how the mega acquisition managed to close so quickly—catching even Anywhere executives and top brokers by surprise—leaders among the Anywhere brands brokerage community are starting the new relationship on a largely positive note.
While rumors and doomsday scenarios about the merger play out in the court of public opinion, the internal vibe at Coldwell Banker corporate is that nothing is changing—at least for now. Anywhere brokers on the front lines are also adopting a wait-and-see approach, but many are heading into the merger enthusiastically.
Tim Milam, CEO of Coldwell Banker Seacoast Advantage, in Wilmington, North Carolina—a No. 1 market leader for several consecutive years—is high on the possibilities of joining the Compass fold.
“It’s exciting. I’m very happy about it,” he says. “The Coldwell Banker people I’m speaking to are very positive about it. Agents are happy about it.”
Milam also gives high marks to Compass International Holdings CEO Robert Reffkin for his proactive communication upon the deal’s closing. As soon as he learned that the merger was finalized, he texted Reffkin with congratulations, who then picked up the phone and called Milam. As a leader who lets his people know they can reach out to him personally, seven days a week, this gesture meant a lot to Milam.
In a video released to Coldwell Banker affiliates on the day the deal closed, Reffkin outlined several commitments:
- “We will preserve your brand and its distinct identity; you will continue to have the same independence you’ve always had as a franchisee.”
- “We will make our technology platform available for those who want it.”
- “You will continue to determine your own data policies.”
- “Your agents and your sellers will have the freedom to choose how each of their listings are marketed and sold. There will be no mandates or policies requiring real estate professionals to use private exclusives.”
Like Milam, Jim D’Amico, CEO Brands by Integra, is also enthusiastic about the possibilities of the deal.
“As an owner of both CENTURY 21 and Coldwell Banker franchises, I am personally very excited to see the Compass/Anywhere acquisition close,” he says. “I am optimistic mainly because I feel Compass has been very bullish on industry issues and keeping themselves in the news cycle in a big way. From a distance I believe that Robert Reffkin’s passion for the company will meld perfectly with the dedicated, like-minded, leadership of Mike Miedler, Jason Waugh, Liz Gehringer, Greg Sexton and Dan Firda, to name a few.
Mark Woodroof, CEO of Better Homes and Gardens Real Estate Gary Greene, is also positive about the merger, and adds the perspective that deals like this are inevitable in today’s landscape, referencing last year’s rumor of Compass acquiring Berkshire Hathaway HomeServices and Keller Williams’ move to bring in private equity.
“At the macro level, it was pretty clear that there was going to be some big consolidation,” says Woodroof. “We’re at that stage in the cycle where people are looking for scale. From my standpoint, something was going to happen and this is what happened—two holding companies coming together. Our brand was owned by Anywhere and it’s now owned by Compass International Holdings. I don’t think things will change much in the near-term.”
Seasoned brokers, such as Jim Fite, CEO of Texas-based CENTURY 21 Judge Fite, agree that their firms’ success is not contingent upon a parent company.
“When I purchased my CENTURY 21 franchise 27 years ago, a very wise broker shared with me the following: ‘Jim, you will invest a great deal of money and time into the CENTURY 21 System. Use the tools, training, technology and all the benefits it provides—you grow your business,'” shares Fite. “Over these last 27 years, there have been multiple owners. The one consistent application that I can control is my own businesses. I plan to do just that—to the best of my ability.”
That said, Anywhere brokers are anxious to see how the acclaimed Compass tech stack stands to enhance their business. The timing of accessing Compass’ tools and resources is as of yet unknown.
“I do not expect it to roll out next month,” says Milam. “(Compass has) to wrap their head around what they bought. I prefer that they roll it out in a timely manner and do it right, rather than fast and have a disaster.”
“The tech platform is a good talking point but what does that really mean?” adds Woodroof. “Over what period of time and how does that play with what we already have?”
No stranger to—nor afraid of—change
While on the surface, Compass and the Anywhere brands may appear to be a cultural mismatch, brokers are not concerned.
“I’ve got people who have moved to my market who used to work with Compass in other markets and they say it’s a great company,” says Milam.
Milam emphasized Reffkin’s messaging in the video, ensuring that affiliates will be able to keep their branding.
“My feeling is that Compass is stepping into a role much like Anywhere—different brands operating in different ways,” he explains. “You’re free to operate your firm as you did in the past, but there will be more tools and resources to do that.”
And for many Anywhere brokers, when it comes to welcoming a new parent, it’s not their first rodeo. With Coldwell Banker since 1993, Milam, for example, has operated under several owners, such as Cendant, Realogy and Apollo, to name a few.
“The parent company names—we’ve been through these changes,” says Milam. “It boils down to all real estate is local, and if you can get more tools and resources from the national level, that is a little bit of an advantage. Use the tools and resources that you want, but you’ll have the autonomy to do what’s best for your market.”
D’Amico is encouraged by the potential synergies the merger creates.
“I could envision franchise sales being made up of one team that could effectively sell a menu of brands in all marketplaces that will fit every type of brokerage, which would create enormous cost cuts for the new entity as a whole,” he says. “I have purchased over 150 brokerages over 30 years and I see the biggest opportunity in streamlining the process of franchise growth through franchise sales and mergers and acquisitions.”
“Mergers and acquisitions represent the evolution of our industry over my four decades in the business and define the current landscape,” says Premier Sotheby’s International Realty President & CEO Budge Husky. “Tough competitors become partners when there is a shared vision of something greater by coming together. Compass’ admirable growth as a brokerage company, coupled with Anywhere’s expertise in franchising, under leadership with an entrepreneurial mindset and access to capital, makes for a highly formidable enterprise. What we do daily hasn’t changed, yet the outlook and opportunity over the horizon is decidedly brighter.”
Navigating breakage, instituting calm
According to Milam, within a day of the merger’s finalization, a competing brand blasted emails to his agents in an attempt to lure them away by stoking fear of change post-acquisition. He denounced this type of tactic.
“I’ve told my managers, if another company gets acquired or there’s a merger, don’t call for a few days,” he said. “Don’t prey on someone’s emotions during a time of change.”
For seasoned brokerage leaders, the message to agents during a time of acquisition or merger is to remain calm and tune out the omnipresent chatter.
Milam is frustrated by the amount of negativity circulating about the Compass/Anywhere deal. “Everyone needs to just calm down,” he said. “I told my agents, just keep doing what you’re doing. Just keep doing your job.”
Woodroof concurs, referring to the deluge of posts and opinions about the merger as fear-mongering. He and his leadership team have taken the time to explain to agents what the acquisition means, and allay concerns—something he appreciates Reffkin doing as well.
“I thought Robert did a nice job with the video embedded in the announcement, and a nice job hitting the points that they imagined would be concerns up front,” he says. “As an independent franchise, it doesn’t really change our world…we make independent decisions.”
“You get people out there saying the sky is falling, but I’m an optimist by nature and have been around Robert enough to believe that he didn’t buy this thing to crash land it,” he adds. “I think the main thing is, don’t overreact to the hyperbole and fear mongers. If down the line it doesn’t work for you, there’s options. Take a deep breath and give it a chance.”
“We are optimistic about it,” says Milam. “We don’t expect miracles, but we believe they will bring more tools and resources, ones we’ll use and ones we’ll like. But it’s up to us to make our success, not the franchise.”
Fite follows the wisdom of the serenity prayer. “Every morning, before I get out of bed, I recite the serenity prayer: ‘God, give me the serenity to accept the things I cannot change, the courage to change the things I can, and the wisdom to know the difference.’ Our company is 89 years young. We have structured it to be here another 89 years.”
