Anywhere kicks off 2025 with $78M loss, pivot on private listings

Yahoo

29-04-2025

Anywhere Real Estate grew its business to kick off the year, but not enough to offset some hefty losses.
In the first quarter of 2025, the brokerage posted a net loss of $78 million, an improvement of $32 million from the same time last year. Revenue grew by 3 percent to $1.2 billion, driven by increases in closed sales prices.
But perhaps the most noteworthy news covered in its most recent earnings call was its position on private listings.
Anywhere CEO Ryan Schneider, who previously touted the company's ability to take advantage of the industry's shift to favor private listings, switched his tune. Speaking after Zillow and Redfin announced tighter rules for private listings, Scheider said the moves made the company's relatively new strategy 'even stronger.'
'We're leaning in pretty hard to the broad distribution of listings [being] the best for buyers and sellers,' Schneider said.
The chief executive's comments strayed from the firm's previously expressed stance amid the industry's divided camps over private listings. A spokesperson for Anywhere, as recently as earlier this month, pointed to 'significant momentum around private listings' in response to the National Association of Realtors' updated Clear Cooperation Policy, which affirmed the continued use of private listings.
The firm's luxury brands like Corcoran, Sotheby's International Realty and Coldwell Banker Global Luxury all use private listing, but the firm said they represent a 'pretty small share' of listings.
Schendier also took a few veiled shots — without naming names — at brokerage competitors, saying his agents are incentivized to 'only do what's right for the customer, even if a different action is more beneficial to the brokerage.'
Anywhere's growth for much of the last year has been driven by its luxury brands — Coldwell Banker Global Luxury, Corcoran, and Sotheby's International Realty — which continued to be the case in 2025. In the first quarter, its luxury segment grew deal volume by 16 percent, compared to 6 percent for the company overall.
Anywhere improved its quarterly operating EBITDA from a loss of $1 million to a loss of $13 million. This measure excludes, among other things, the $36 million in interest Anywhere paid on its $2.6 billion of debt, which includes $610 million of borrowings from the company's revolving credit facility.
'Deleveraging remains a top priority for us,' CFO Charlotte Simonelli said on the earnings call, adding that the company plans to refinance its upcoming $403 million of maturing debt in 2026.
The company reiterated its projected full-year EBITDA of $350 million.
The brokerage posted a free cash flow of $130 million, an improvement of $15 million from the first quarter of last year. It realized cost savings of $14 million, which puts it on track to realize $100 million in cost savings this year. Last year, the company cut $125 million in costs.
Agent commission splits were 80.4 percent, an increase from around 80 percent in the first quarter of last year. The company's owned brokerage group commission rates, which had fallen through most of 2024, flattened compared to the last quarter at 2.35 percent for the owned brokerage group and 2.41 percent for the franchise group.
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This article originally appeared on The Real Deal. Click here to read the full story.