DOJ Leadership Overrules Staff on $1.6B Realty Merger
The Wall Street Journal reports that Justice Department antitrust staff wanted to investigate the $1.6 billion merger of Compass and Anywhere Real Estate, the country’s two largest residential brokerages, but were overruled by senior DOJ officials who favored clearing the deal. The companies, which had projected at least a nine‑month review when announcing the merger in September, closed it on Friday, underscoring how some large transactions are moving quickly to completion during the Trump administration despite potential antitrust concerns.
📌 Key Facts
- Compass and Anywhere Real Estate, the two largest U.S. residential brokerages, completed a $1.6 billion merger on Friday.
- DOJ antitrust enforcers sought to investigate the merger but were blocked by higher‑level Justice Department officials who wanted the deal approved.
- The merger closed far sooner than the roughly nine‑month regulatory timeline the companies had previously forecast when they announced the deal in September.
📊 Relevant Data
The combined market share of Compass and Anywhere Real Estate post-merger is approximately 18% nationally in the US residential brokerage industry, but exceeds 50% in major metropolitan areas.
America's two largest brokerages are merging: Compass will have 340,000 real estate agents — ResiClub Analytics
US real estate agent commissions have risen to an average of 5.44% in 2025, up from 5.32% the previous year, amid industry changes including mergers and settlements.
US commissions jump to 5.44% amid cooling housing market — Chicago Agent Magazine
In Q3 2025, US homeownership rates by race and ethnicity show non-Hispanic White at 74.9%, Asian at 63%, Hispanic at 48.8%, and Black at 45.5%, with population percentages approximately 59% White, 19% Hispanic, 13% Black, and 6% Asian.
Homeownership Rates by Race and Ethnicity: Hispanic (of Any Race) in the United States — FRED Economic Data
Buyer's agent commissions in the US averaged 2.42% in Q3 2025, up from 2.36% a year earlier, with higher rates for homes under $500,000 at 2.52%.
Average buyer's agent commission ticks up under new NAR rules — HousingWire
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