Half of Anywhere Real Estate agents say they would consider leaving if Compass acquisition moves forward

Rhea-AI Summary

Anywhere Real Estate (NYSE:Z) survey of agents, fielded in late October 2025, found 53% would leave or might consider leaving if Compass acquires Anywhere, including 18% saying they "definitely will" leave within a year.

Survey highlights: 70% said selling on a private listing network is not in a seller's best interest; 23% expect the acquisition would negatively affect their business; and 98% said private listing networks could cause at least one negative market effect (reduced access for lower-income buyers, reinforced segregation, potential fair housing concerns, and competitive disadvantages for smaller brokerages).

Agent market sentiment cooled through 2025: short‑term optimism on transactions fell from 54% in Q1 to 37% in Q3, while 51% expect prices to rise over the next year.

Positive

• 51% of agents expect home prices to rise over the next year
• 47% of agents expect prices to hold steady in short term

Negative

• 53% of Anywhere agents would leave or might leave if Compass acquisition proceeds
• 18% of agents say they definitely will leave within a year if acquisition occurs
• 23% of agents said the acquisition would negatively impact their business
• 70% of agents say private listing networks are not in sellers' best interest
• 98% of agents identified at least one negative impact of private listing networks

News Market Reaction

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+0.97% News Effect

On the day this news was published, Z gained 0.97%, reflecting a mild positive market reaction.

Data tracked by StockTitan Argus on the day of publication.

About 70% of Anywhere agents surveyed said it is not in a seller's best interest to sell their home on a private listing network

SEATTLE, Nov. 6, 2025 /PRNewswire/ -- About half (53%) of Anywhere Real Estate agents in a new survey say they would leave or might consider leaving their brokerage if the intended Compass acquisition of Anywhere moves forward — a signal of unease within one of the nation's largest real estate networks.

According to the recent Zillow^® survey, 18% of Anywhere agents surveyed say they "definitely will" leave their brokerage in the next year if Compass acquires Anywhere. Another 35% of agents surveyed say they "might consider" leaving Anywhere. Nearly a quarter (23%) of Anywhere agents surveyed said the acquisition would have an overall negative impact on their business.

The survey, fielded in the second half of October, highlights the broad sentiment in the industry over the rise of private listing networks, which Compass uses as a strategy to market homes. While some agents see potential business advantages in keeping listings hidden within a closed, in-brokerage network, including using it to recruit new clients, others worry that limiting transparency through the spread of off-market listings will artificially lower sale prices, reduce access for buyers and erode trust in the marketplace.

About 70% of Anywhere agents surveyed said it is not in a seller's best interest to sell their home on a private listing network. More than half (55%) of Anywhere agents surveyed said the brokerage (34%) or agent (20%) is the biggest beneficiary of private listing networks, followed by sellers (16%) and buyers (12%). Those results point to agents' understanding that private listing networks exist to benefit the brokerage through recruiting and added commissions, and not to help consumers.

Most importantly, an overwhelming 98% of Anywhere agents surveyed sent a clear message that they value openness and fairness in the market, saying private listing networks could have at least one negative impact, such as:

• Reduced access for lower-income buyers
• Reinforcement of racial segregation
• Potential fair housing law violations
• Competitive disadvantages for smaller brokerages and independent agents

Zillow's prior analyses have found that private listing networks have unintended consequences for sellers and communities:

• Homes listed off-MLS sell for less than comparable homes listed publicly
• Sellers who list privately tend to express regret, with many saying they felt they missed out on broader exposure
• Communities of color are disproportionately affected by reduced listing visibility

Amid this debate over listing transparency, real estate agents grew slightly less optimistic about the housing market throughout the year, additional Zillow survey data shows. During the first three months of 2025, 54% of real estate agents expected more home sales in the coming months. Compared with 44% in Q2 (April–June) and 37% in Q3 (July-September).

Looking further ahead, medium-term expectations also softened: only about half of agents (53%) said they expect transactions to increase in the next month, compared with 66% in the first quarter of the year and 59% in the second quarter.

Despite cooling sentiment around sales activity, agents remain cautiously optimistic about home prices. In the short term, 35% expect prices to rise in the next 30 days, while 47% expect them to hold steady. Over the next year, 51% of agents expect prices to increase, and 26% expect them to remain roughly the same — largely unchanged from the previous quarter.

Perhaps reflecting these shifting dynamics, a growing share of agents now see the housing market as tilting toward buyers rather than sellers.

Zillow regularly publishes survey data on agent sentiment, transparency and other topics to empower the marketplace with information. For more of Zillow's research, visit zillow.com/research.

About Zillow Group
Zillow Group, Inc. (Nasdaq: Z and ZG) is reimagining real estate to make home a reality for more and more people. As the most visited real estate app and website in the United States, Zillow and its affiliates help people find and get the home they want by connecting them with digital solutions, dedicated real estate professionals, and easier buying, selling, financing, and renting experiences.

Zillow Group's affiliates, subsidiaries and brands include Zillow^®, Zillow Premier Agent^®, Zillow Home Loans℠, Zillow Rentals^®, Trulia^®, Out East^®, StreetEasy^®, HotPads^®, ShowingTime+℠, Spruce^®, and Follow Up Boss^®.

All marks herein are owned by MFTB Holdco, Inc., a Zillow affiliate. Zillow Home Loans, LLC is an Equal Housing Lender, NMLS #10287 (www.nmlsconsumeraccess.org). © 2025 MFTB Holdco, Inc., a Zillow affiliate.

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SOURCE Zillow

FAQ

What percentage of Anywhere agents say they would leave if Compass acquires Anywhere (Z)?

A Zillow survey in late October 2025 found 53% of Anywhere agents would leave or might consider leaving if Compass acquires Anywhere.

How many Anywhere agents said they would definitely leave within a year if Compass completes the acquisition?

18% of Anywhere agents surveyed said they "definitely will" leave their brokerage in the next year if Compass acquires Anywhere.

What share of Anywhere agents believe private listing networks hurt sellers, according to the Zillow survey?

70% of Anywhere agents surveyed said it is not in a seller's best interest to sell on a private listing network.

What negative market impacts did Anywhere agents cite about private listing networks in the survey?

Agents cited reduced access for lower‑income buyers, reinforcement of racial segregation, potential fair housing concerns, and disadvantages for smaller brokerages.

How did agent sentiment about home sales change through 2025 in the Zillow survey?

Optimism fell from 54% expecting more home sales in Q1 to 44% in Q2 and 37% in Q3 of 2025.