Company: HOUS
Filing Date: 2025-02-25
Form Type: 10-K
Source: 0001398987-25-000020
Chunk: 98

Company: Anywhere Real Estate Inc.
Filing Date: 2025-02-25
Form: 10-K
Item: Item 1A
Chunk 98
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 it could result in increased competition for productive independent sales agents, increased industry consolidation due to a need for greater listing scale, and changes in consumer marketing. All of these impacts could adversely impact our operations, revenues, earnings and financial results. 

We cannot assure you that changes in legislation, regulations, interpretations or regulatory guidance, enforcement priorities, litigation or the rules and policies of NAR, any MLSs and/or any state or local realtor association (or any resulting changes to competitive dynamics or consumer preferences, either alone or in combination with any of the foregoing), will not materially adversely impact the structure of the industry or the financial results of the Company, affiliated franchisees and/or other industry participants. Such impacts could include, but are not limited to, meaningful decreases in the average broker homesale commission rate, the average buy-side commission rate, the share of commission income received by us and our franchisees, the share of royalties we receive from our franchisees, or the percentage of home buyers or home sellers using an agent or broker in their homesale transactions. Additionally, such changes could result in the introduction or growth of certain competitive models, or otherwise could have a material adverse effect on our operations, revenues, earnings and financial results.

Our businesses and the businesses of our joint ventures and affiliated franchisees are highly regulated and any failure to comply with such regulations or any changes in such regulations or in the interpretations or enforcement of such regulations could adversely affect our business.

All of our businesses and the businesses of our joint ventures as well as the businesses of our franchisees are highly regulated and subject to shifts in public policy, statutory interpretation and enforcement priorities of regulators and other government authorities as well as amendments to existing regulations and regulatory guidance and change to MLS and/or NAR rules and policies. We must comply with numerous laws and regulations both domestically and abroad. See "Item 1.—Business—Government and Other Regulations" in this Annual Report for additional information concerning laws and regulations impacting our business, including antitrust, competition and bribery laws, RESPA, worker classification and the TCPA, among others. 

Each of our businesses could be adversely affected by current laws, regulations or interpretations, and more restrictive laws, regulations or interpretations could increase responsibilities and duties to customers and franchisees and other parties and make compliance more difficult or expensive. A change in current laws could adversely affect our business. In addition, any adverse changes in regulatory interpretations, rules and laws that would place additional limitations or restrictions on affiliated transactions could have the effect of limiting or restricting collaboration among our businesses.