Anywhere Real Estate is the largest integrated residential real estate services company in the U.S., operating through franchised and company-owned brokerages under well-known brands including Century 21, Coldwell Banker, Sotheby's International Realty, Corcoran, ERA, and Better Homes and Gardens Real Estate. Anywhere operates through three segments: Anywhere Brands (franchising), Anywhere Advisors (company-owned brokerages), and Anywhere Integrated Services (title and settlement). The franchise business earns royalties from independently owned offices based on a percentage of gross commission income, and is Anywhere's highest-margin segment. The company-owned brokerage segment operates roughly 580 offices in major metro markets, earning commission income at closing and splitting approximately 80% with independent agents. The title segment provides title search, escrow, and settlement services, primarily to buyers and sellers transacting through Anywhere's own brokerages. Anywhere also earns equity income from minority stakes in a mortgage origination joint venture and a title insurance underwriter. The single biggest driver of results is U.S. existing home sale volume, which has been at historically low levels since 2022. Anywhere's growth strategy focuses on luxury market expansion through Sotheby's and Corcoran, franchise network growth, increasing the title capture rate from its own brokerage transactions, and ongoing cost reductions. Anywhere also manages a corporate relocation business, Cartus, which serves large employers managing employee moves.