Overview
- The New York Attorney General’s antitrust office confirmed an ongoing investigation and agents have contacted leaders at several top New York City brokerages for information, according to multiple reports.
- Compass closed its $1.6 billion acquisition of Anywhere Real Estate in early January, creating the largest U.S. residential brokerage with more than 340,000 affiliated agents and franchisees.
- Federal antitrust staff had sought a deeper review late last year but then-Deputy Attorney General Todd Blanche declined an extended probe after Compass appealed and hired outside counsel to press its case.
- Independent analyses of brokerage data show the combined firm can exceed common federal concern thresholds in some local markets, with estimates topping 30% in several metros and reaching more than 80% in places such as Manhattan and Newport Beach.
- The inquiry knocked roughly 12% off Compass’s share price and raises the prospect of state litigation or divestitures and scrutiny of practices like private internal listings that critics say can limit buyer and seller access.