Could Compass Redesign The Real Estate Game?

Compass’s acquisition of Anywhere Real Estate isn’t just about size—it could redefine the entire real estate ecosystem.

Today, agents create the intellectual property, i.e., listings, and place them on local multiple listing services (MLS) controlled by the National Association of Realtors (NAR). MLSs package and sell that data to Zillow. Zillow, the largest and most popular real estate search portal, then sells buyer leads back to agents. What the What??

Two years ago, Compass seemed to be on life support. Yet in the toughest markets in history, it doubled down, expanded, and kept attracting agents faster than anyone else. This move solidifies its strategy, focusing on scale, technology integration, and growing industry dominance.

However, Compass now controls the largest share of brokerages, agents, and listings.

This isn’t simply building the biggest company. It’s a calculated play for leverage and influence. With brands like Coldwell Banker, Sotheby’s International Realty, Century 21, Better Homes & Gardens, and Christie’s International now under its umbrella, Compass has instantly become a real estate Goliath—the largest agent network in the world.

And here’s the bigger question:

• With control over 340,000 agents and the listing data they generate, could Compass bypass MLSs altogether—building a private system that sidelines NAR and even rewrites membership requirements?
• Given that Compass would like to have private listings and will now own the lion’s share of agents, brokerages, and listings, does Zillow’s business model even survive without becoming a competing brokerage?

This isn’t just an acquisition—it’s a power grab. A strategic reshaping of who owns the data, who controls the agents, and who sets the rules.

It’s not just about sales anymore. It’s about leverage.
With this move, Compass may have positioned itself as the new leader to follow.