HousingWireHousingWire
In the roughly nine months since the National Association of Realtors’ (NAR) commission lawsuit settlement business practice changes went into effect, Anywhere Real Estate CEO Ryan Schneider said he has yet to see much of an impact.
The average home sale commission rate was down two basis points annually to 2.41% at Anywhere’s franchise segment, and down six basis points to 2.35% at its owned brokerage segment, Anywhere Advisors.
“We’ve now had three quarters in a row here where there really hasn’t been that much movement, frankly, less than we had predicted when we did our budget for this year,” Schneider told investors and analysts during Anywhere’s Q1 2025 earnings call Tuesday morning.
Despite the decrease in commission rates, Anywhere’s gross commission income in Q1 rose to $976 million, up nearly $70 million from a year ago. Additionally, the gross commission income per side for agents who are part of the owned brokerage segment was up 10% annually to $19,720, as the average home sale price for Anywhere Advisors rose 13% year over year to $799,750.
Schneider said that there was a larger decrease in commissions in the luxury segment, but it was still a single digit basis point drop.
“I do think there’s something about the savvy buyer and seller, maybe being a little more sophisticated and maybe negotiating a bit harder, but on the flip side, when you’re doing doing $10 to $50 million deals, there historically has always been a lot of commission negotiation happening, so I’m probably not that surprised by it,” Schneider said.
While some were predicting doom and gloom due to the settlement business practice changes, that, according to Schneider, is not what has happened at Anywhere.
“We remain confident in our proactive approach to change and how our agents and franchise have successfully navigated these ships, and consistently demonstrated their value to consumers,” Schneider added.
