Latest news with #RyanSchneider
Yahoo
15-05-2025
- Business
- Yahoo
Anywhere to Participate in the KBW Virtual Real Estate Finance & Technology Conference
MADISON, N.J., May 15, 2025 /PRNewswire/ -- Anywhere Real Estate Inc. (NYSE: HOUS), a global leader in residential real estate services, today announced that Chief Executive Officer and President Ryan Schneider will participate in the KBW Virtual Real Estate Finance & Technology Conference on Tuesday, May 20, 2025. 'Evolving Resi Markets: A Conversation with Anywhere Real Estate', featuring Ryan Schneider, is scheduled for Tuesday, May 20, 2025 at 12:00 p.m. EST. The remarks will be webcast, with access instructions available at under "Investors." The webcast will be archived on the site for 90 days. About Anywhere Real Estate Inc. Anywhere Real Estate Inc. (NYSE: HOUS) is moving real estate to what's next. We fulfill our purpose to empower everyone's next move through our leading integrated services, which include franchise, brokerage, relocation, and title and settlement businesses, as well as mortgage and title insurance underwriter minority owned joint ventures. Our brands are some of the most recognized names in real estate: Better Homes and Gardens® Real Estate, CENTURY 21®, Coldwell Banker®, Coldwell Banker Commercial®, Corcoran®, ERA®, and Sotheby's International Realty®. Every day, we help fuel the productivity of our vast network of franchise owners and our more than 300,000 affiliated agents globally as they build stronger businesses and best serve today's consumers. Learn more about our award-winning culture of innovation and integrity at Investor Contacts: Media Contacts: Alicia Swift Gabriella Chiera (973) 407-4669 (973) 407-5236 John Carr Kyle Kirkpatrick (973) 407-2612 (973) 407-2935 View original content to download multimedia: SOURCE Anywhere Real Estate Inc.
Yahoo
29-04-2025
- Business
- Yahoo
Anywhere kicks off 2025 with $78M loss, pivot on private listings
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. Anywhere rode luxury to close out 2024's 'challenged' market After a slow Q3, Anywhere reports stronger October as a sign of turning tides Anywhere claims 'first mover' advantage ahead of NAR deadline This article originally appeared on The Real Deal. Click here to read the full story.
Yahoo
13-02-2025
- Business
- Yahoo
Anywhere rode luxury to close out 2024's 'challenged' market
After a sluggish third quarter, Anywhere waded through a 'pretty tough housing market' to deliver some growth and an optimistic outlook for 2025. The real estate services company posted a net loss of $64 million, or a $43 million improvement from the same quarter in 2023. But it's full-year performance worsened to a net loss of $128 million, compared with $97 million for 2023. Its operating EBITDA — earnings before interest, taxes, depreciation and amortization — of $52 million was up $24 million year-over-year. The parent company of Corcoran, Coldwell Banker, Century 21 and Sotheby's International Realty reported $1.4 billion in revenue, a 9 percent annual increase. Gross transaction volume was up 13 percent year-over-year, with units closed in the fourth quarter up 3 percent and prices up 9 percent. Anywhere was buoyed by growth in its luxury sector. The high-end segments posted gross volume that was up 20 percent compared to the fourth quarter of 2023, driven by 12 percent unit growth year-over-year. On the earnings call, CEO Ryan Schneider reiterated his stance for relaxing — but not repealing — the National Association of Realtors' Clear Cooperation Policy. The chief executive appeared to take a veiled shot at fellow residential giant Compass, which has been on the vanguard of pushing for a repeal. 'Those advocating for full repeal are primarily advancing their own interests,' Schneider said. 'There's clearly an opportunity for players with listing scale to create private, off-market listing networks that only select agents can access, which clearly could enhance near-term economics.' A shift to off-market listings hurts sellers' ability to get the best price, Schneider said, and complicates pricing by decreasing publicly available comparables. But he noted that Anywhere, which he said has the most listings in the industry across its brands, is prepared to 'capitalize' in the event of a CCP repeal. He also called out industry consolidation — another point of emphasis for Compass — and said that while he would be 'excited to augment our growth through M&A opportunities,' the company will only be looking for 'deals that enhance the bottom line, not just the top line.' 'We've seen some deals in the market that we wouldn't do,' he said, noting that Anywhere would likely be a cash — as opposed to equity — buyer if it does find an acquisition opportunity. Cost cuts to continue Anywhere's commission splits again stayed steady, down 7 basis points year-over-year to 80.3 percent. Average commission rates again fell slightly, to 2.39 percent from 2.41 percent for its franchise groups and to 2.35 from 2.36 for its owned brokerage groups. Over 80 percent of buyers have opted to sign six-month exclusive buyer agreements, which were one of five agreements Anywhere rolled out in the wake of NAR practice changes going into effect last summer. Anywhere's yearslong cost-cutting mission resulted in a realized cost savings of $125 million for 2024. CFO Charlotte Simonelli said that 40 percent of those savings were offset by growth-related costs and inflation. Anywhere's free cash flow for the year was $70 million — roughly even with 2023 — after excluding a $20 million litigation settlement payment, and the company expects a similar performance in 2025. The firm has also targeted another $100 million of cost reductions for 2025, and it continues to tout its use of artificial intelligence tools to improve efficiency. Schneider said the firm has used generative AI to halve the team needed to process over 50,000 transaction-related documents per day. Anywhere expects to bolster its performance in 2025, forecasting $350 million of operating EBITDA for the year, an increase of $60 million from 2024. But Simonelli said the housing market will be 'the single biggest swing factor' for its projections, noting that there are currently 'some pretty wide ranges in industry forecasts.' This January has shown early signs of growth, with the closed gross volume up 12 percent year-over-year and the open volume — open contracts and future closings — up 4 percent year-over-year. 'The housing market remains challenged, especially with a lack of supply and real pressure on the number of unit transactions,' Schneider said. Anywhere claims 'first mover' advantage ahead of NAR deadline Here's where Compass, Anywhere stand after year of cost-cutting Anywhere strikes buyer commission, NAR membership rules in proposed settlement This article originally appeared on The Real Deal. Click here to read the full story.
