Business Insider: Robert Reffkin v. Real Estate The Compass CEO's crusade against Zillow will change how you find your next home.

https://www.businessinsider.com/compass-ceo-robert-reffkin-zillow-war-homebuying-real-estate-2025-12

T3 Sixty excerpts:

The combined entity, including franchisees, would account for nearly a quarter of US home-sales volume, based on estimates from T3 Sixty, a real estate management consulting firm.

Last year, the 10 biggest real estate companies accounted for more than half of US sales volume, according to a T3 Sixty analysis.

The pending acquisition of Anywhere, expected to close late next year, would add more than 170,000 agents to Compass ranks, combine the two largest brokerages by sales volume, and give Reffkin more power to mold the housing market in his image. In key markets such as New York City, San Francisco, and Washington, the brands under the joint entity would boast a market share ranging from 30% to 50%, according to data from T3 Sixty.

There's no guarantee he will come close to that goal. Because agents are independent contractors, Reffkin can't force them to adopt his three-phased marketing strategy. The Anywhere deal could face regulatory scrutiny or fall apart for other reasons, and if it goes through, Compass will end up with more than $2 billion in additional debt. The court battle with Zillow is another question mark. "It's hard to take out the king," Jack Miller, the president and CEO of T3 Sixty, told me in September. "Whatever the challenge of the week is for Zillow, I still think they're such a powerful player."