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On September 22, 2025, Compass and Anywhere Real Estate announced a definitive agreement to combine in an all-stock transaction. The transaction closed on January 9, 2026, with Anywhere Real Estate operating as a subsidiary of Compass.
Big headlines create big questions, especially across a network as established and trusted as ours. So we sat down with Karim Kennedy, CEO of Coldwell Banker Canada, to talk through what this means in practical terms for Canada, and where the real opportunities are for Canadian brokers and agents.
In short, the Compass + Anywhere transaction does not change Coldwell Banker Canada’s operations or leadership. Coldwell Banker remains a distinct global brand, while the combined company increases scale, referral connectivity, and long-term investment in technology and agent platforms.
Q: Karim, what happened, in plain language?
Karim Kennedy: Compass and Anywhere Real Estate combined into one company through an all-stock transaction. Anywhere is now part of the Compass family, and that matters because Anywhere has historically been home to some of the most recognized brands in real estate, including Coldwell Banker.
But I want to start where our network actually lives, which is Canada. The question everyone asks is, “What changes for us?”
And the answer is: your day-to-day does not change. Coldwell Banker Canada continues to operate with Canadian leadership, Canadian priorities, and the same focus on supporting broker owners and agents across this country.
Q: People want specifics. What are the key deal details and numbers our network should know?
KK: If we’re going to talk about this, we should talk about it accurately. The deal was announced on September 22, 2025 and closed on January 9, 2026. It was an all-stock transaction, with a combined enterprise value of approximately $10 billion.
At full scale, the combined platform brings together roughly 340,000 real estate professionals globally, operating across about 120 countries and territories. Those numbers help to explain the strategic intent. This was not positioned as a rebrand. It was positioned as a scale and platform move.
For Canada, it reinforces the two things our brokers and agents care about most: stability and advantage. Scale supports long-term investment and strengthens referral connectivity. Platform means better tools, better systems, and a more modern experience for clients that keeps the agent at the centre.
Our day-to-day in Canada doesn’t change, but the broader ecosystem around us gets stronger, and that’s an exciting position to be in.
Q: What brands are now under the combined company?
KK: The combined company includes Compass plus Anywhere’s portfolio, which includes brands like Coldwell Banker, Century 21, Sotheby’s International Realty, Christie’s, Corcoran, ERA, Better Homes, @properties and Gardens Real Estate.
But I want to be crystal clear on something: Coldwell Banker remains Coldwell Banker. This is one of the most recognizable real estate brands on the planet. You don’t buy brand equity of this magnitude to erase it.
You protect it, invest in it, and build with it.
Q: So, how does this affect Coldwell Banker Canada directly?
KK: Here’s the most practical way to frame it: this is a U.S. corporate transaction. It changes ownership at the corporate level in the U.S., but it does not rewrite how Coldwell Banker Canada operates day-to-day.
We are proudly Canadian-owned and operated, and we lead this business for the realities of the Canadian market. That means our decisions stay grounded here, our priorities stay focused on Canadian broker owners and agents, and our strategy stays built around what helps our network win in Canada.
What doesn’t change is who we are and how we support you. We remain focused on our broker owners, our agents, our clients, our growth, and our reputation in-market.
And if anything ever changes in a way that materially impacts Canada, you’ll hear it from us early and clearly. But today, the message is simple: we’re steady, we’re proud of what we’ve built, and we’re building what’s next.
Q: You sound optimistic. What’s the upside for the Canadian network?
KK: There are three main reasons I’m optimistic.
First, scale grows opportunity, especially in Canada. A platform this large increases connectivity with more relationships, more introductions, more mobility, and more referrals. When the combined organization is able to leverage 340,000 professionals across 120 countries, that’s an incredible number that creates unbelievable momentum
Canada is a destination market. We’re a relocation market. We’re a lifestyle market. A larger connected ecosystem translates into more inbound referral opportunities for Canadian agents and broker owners.
Second, a bigger organization creates positive investment pressure. When a company positions itself as “built for real estate professionals,” it creates an expectation that the platform, tools, and infrastructure will improve. That’s great news for agents and for broker owners and it means technology becomes a competitive weapon, not an afterthought.
Third, diversification supports resilience. Real estate moves in cycles. The brands that last are the ones that can keep investing through every kind of market: tight markets, soft markets, weird markets. Scale, stability, and reinvestment separate the brands that last from the ones that fade.
Q: Karim, you mentioned “tech” when we spoke. What specifically should Canada understand about the Compass tech side?
KK: Compass has been building a reputation around agent-facing technology and product development, and you can see it in what they’ve already shipped and how they talk about innovation.
Compass has already publicly positioned tools that help agents bring sharper data into listing conversations, like its Buyer Demand product, which is designed to show real-time buyer interest at different price points.
But there’s a bigger strategic thread here, and it’s the one people are really asking about: listings, distribution, and platform.
Across the U.S., the industry has been in an active conversation about listing access, private exclusives, consumer search behavior, and the role of portals. Compass has been very visible in that conversation, including around how listings move through the market.
When I talk about Compass “building a listing platform,” what I mean is this: they’re thinking about the end-to-end ecosystem. How listings are prepared, launched, marketed, and discovered, and how agents stay central in that experience rather than being disintermediated.
We are watching that evolution with a Canadian lens. Our market structure, our MLS ecosystem, and our regulatory environment are different from the U.S. But innovation in how agents present listings, how they amplify reach, and how they bring better insights to clients absolutely benefits Canadian professionals when applied thoughtfully.
Q: You know I have to ask. Will that Compass technology and listing platform come into the Canadian market?
KK: It’s a fair question, and I want to answer it responsibly. The honest truth is that it’s too early to make any commitments about specific Compass products or a listing platform being rolled out in Canada, on any timeline. This is a large integration, and decisions about technology are complex even within one market, let alone across borders.
What I can say is that we’re watching it closely and we’re already engaged in the right conversations. Canada has its own market structure, MLS environment, and regulatory requirements, and any tech that comes into our market would need to make sense here, comply here, and genuinely improve outcomes for Canadian brokers, agents, and clients.
We’re not in the business of promising tools before they’re ready or relevant. If there are opportunities to bring innovations into Canada, we’ll evaluate them through one filter: does it materially strengthen our Canadian network without creating disruption or complexity? If the answer is yes, we’ll explore it thoughtfully and back it fully. If the answer is no, we won’t force it.
If anything evolves in the future, we’ll communicate it clearly, with specifics, and with enough lead time for our network to feel confident.
Q: What concerns do you think brokers and agents are right to have?
KK: It’s normal and healthy to be thoughtful about this. When a deal makes headlines at this scale, people naturally wonder what it means for their business, their brand, and the support they rely on. Integration takes time, priorities get refined as leadership teams align, and in the U.S. there’s a lot of ongoing conversation that can add to the noise and make the moment feel more uncertain than it actually is.
What I want to be very clear about for Canada is this: nothing is changing in our day-to-day operations here. There’s no leadership change in Canada. Our focus, our strategy, and our support model remain the same.
Coldwell Banker Canada is stable, Canadian-led, and operating as we always have, with the same commitment to our broker owners and agents. So while it’s completely understandable that a headline like this can create anxiety, there’s no cause for it.
Our job is to keep the network steady, communicate clearly, and only make changes if and when there’s a real benefit for our Canadian business.
Q: Are we becoming “Compass Canada”?
KK: [Laughs] No. Coldwell Banker is, and will continue to be, Coldwell Banker.
I understand why people ask, because big headlines make it tempting to collapse everything into one simple storyline.
But this combination wasn’t designed to erase brands, it was designed to strengthen them. Coldwell Banker has more than a century of trust, recognition, and brand equity behind it, and that distinctiveness is part of what makes the portfolio valuable in the first place.
So the intention here is not to blend identities into one name. It’s to preserve what each brand stands for, invest in what makes each one strong, and ensure Coldwell Banker continues showing up in the market as Coldwell Banker with its own reputation, positioning, and global presence intact.
Q: What changes for our agents right now?
KK: Operationally, nothing changes today because of this transaction.
Your brand is the same. Your client experience is the same. Your brokerage ownership is the same. Your support from Coldwell Banker Canada continues as normal.
Q: What should agents and brokers watch over the next 6 to 12 months?
KK: I would watch for three things.
First, watch how the combined organization talks about product priorities, workflow tools, and how agents are supported at scale.
Second, I would be leaning into our referral platform. With a global footprint of over 120 countries and territories, there’s potential to make our referrals more visible and more intentional. Canada has a huge advantage here. We are a place people move to, return to, retire to, and invest in. We should be leveraging that at the brokerage level.
Third, we should be paying attention the the U.S. listing conversations, because it influences the industry. Even though the Canadian market is different, U.S. trends can create ripple effects. Listing, portals, technology and consumer behaviour matter and we are watching them closely.
Q: Last question. What do you want the Canadian network to take away from all of this?
KK: I want our network to feel our momentum. Above all else, I want people to feel confident, because this isn’t a moment of uncertainty for Coldwell Banker Canada. It’s a moment of alignment.
We have the strength of a legacy brand that Canadians already trust, and we now have even more scale behind us. That means more connectivity, more opportunity, and more investment in the tools and platforms that will define the next decade of real estate.
If you’re a broker owner, my message is this: keep building. Your business is stable, your brand is strong, and the runway ahead is long.
If you’re an agent, lean in. This is the kind of shift that can open doors, especially for those who are ready to use better tech, stronger systems, and a bigger network to grow.
And if you’re looking at where to align for the next chapter of your career, I’ll say this with complete conviction: Coldwell Banker Canada is positioned for what’s next. In fact, we’re helping to shape it.
Karim Kennedy is the CEO of Coldwell Banker Canada, guiding one of the country’s most established real estate brands into its next chapter of growth. A lifelong advocate for innovation, Karim believes great leadership is about empowering others to succeed. Drawing on more than 20 years in business, he brings a steady, forward-looking perspective to the challenges and opportunities shaping Canada’s housing market.
