• At least one direct competitor in the real estate brokerage business was not contacted by the DOJ
• Rumors of potential divestitures did not come to fruition

The Department of Justice (DOJ) did not contact at least one direct competitor in the real estate brokerage business during the agency’s review of the Compass-Anywhere deal, according to a source familiar with the matter.

A second source familiar with the matter said they had been preparing for a call from the DOJ that never came.

Compass and Anywhere announced the planned acquisition on 22 September. The deal was expected to receive scrutiny from the DOJ and state attorneys general and was a likely candidate for a second request, according to a previous report from this news service.

However, the Hart-Scott-Rodino waiting period expired on 2 January with no action taken by the government. The companies had previously withdrawn and refiled the paperwork, allowing the DOJ an extra 30 days to investigate the deal.

Compass and Anywhere closed their merger on 9 January, months earlier than expected. The companies guided to an expected close in the second of 2026 when the deal was announced.

The first source expressed surprise at the closing of the deal, saying that it was unexpected among other industry participants.

“I had thought Anywhere was already getting there, with all of those brands under their banner, so adding Compass to the mix makes it really like a tipping point. But I guess not,” the first source said.

Combining Compass and Anywhere will mean that around 350,000 of the six million licensed real estate agents in the US will work for the merged firm, the first source said. While that might not meet the antitrust standard nationally, “in certain markets, they definitely have a monopoly,” the source added, citing New York City as one example.

This news service previously reported that the deal could lead to substantial overlaps in regions including New York City, Chicago, the Washington-DC metropolitan area, and parts of Los Angeles, the San Francisco Bay Area, and Florida. Parts of Texas are likely also in the mix, the first source added.

The first source said they had heard rumors that Compass and Anywhere would have to divest one or two of its brands in order to close the deal. However, the DOJ did not make any requirements of the companies.

The second source, who is active in the space, said they had heard that various regional firms had been laying the groundwork to be ready to purchase any divestitures that emanated from the antitrust review. This source stated that, from their perspective – in the region they operate – Anywhere and Compass had been engaged in heated head-to-head competition.

The Wall Street Journal reported that the deal was cleared against the wishes of antitrust division leader Abigail Slater, citing lobbying efforts. The same lawyer, Mike Davis, also lobbied DOJ leadership on the HPE/Juniper deal.

The news service previously reported that some state attorneys general may be interested in scrutinizing the deal. Thirteen state attorneys general moved to intervene in the Tunney Act review of the HPE/Juniper settlement, claiming that the settlement was the result of “undue influence of well-connected lobbyists.” That litigation is still ongoing.

Senators Elizabeth Warren (D-MA) and Ron Wyden (D-OR) wrote a letter last month urging the government to closely examine the Anywhere/Compass merger, warning that the deal would entrench “existing antitrust and manipulation concerns.”

“I warned that a Compass-Anywhere merger could raise costs for homebuyers and sellers by reducing competition. Now, instead of addressing the full-blown housing crisis flattening American families, the Trump administration has rubberstamped a deal that will make things even worse. This is just the latest example of Donald Trump failing to lower costs for Americans,” Warren said in an emailed statement.

Representatives for Compass and several state attorney general’s offices did not respond to requests for comment. A spokesperson for the DOJ declined to comment.