Anywhere Real Estate Inc. cuts workforce, ends iBuyer operation

by Patrick Regan

Anywhere Real Estate Inc. instituted layoffs to some of its workforce this week, the company announced in an SEC filing Tuesday.

The firm, whose subsidiaries include Century 21, Coldwell Banker, Corcoran Group and Sotheby’s International, said it “executed a meaningful workforce reduction” on Monday. Combined with previous layoffs, the company has reduced its workforce by about 11% since the end of the second quarter of 2022, it said.

The company also said it will end its iBuyer service RealSure. The announcement follows similar decisions by Zillow and Redfin, which both recently announced the closure of their iBuyer services.

The moves are part of Anywhere’s broader strategy to save costs by focusing on digital operations, according to the SEC filing.

“The company expects to continue to prioritize investments in efforts to support our independent sales agents, franchisees and consumers,” the firm said in its SEC filing. “This includes investments in technology and innovative products, lead generation and franchisee support. To streamline and focus our strategic investments for today’s environment, we are winding down select initiatives, including RealSure.”

Read More Related to This Post

Join the conversation

New Subscribe(3)

  • This field is for validation purposes and should be left unchanged.