Company: HOUS
Filing Date: 2025-05-07
Form Type: 10-Q
Source: 0001398987-25-000067
Chunk: 94

Company: Anywhere Real Estate Inc.
Filing Date: 2025-05-07
Form: 10-Q
Item: Item 2
Chunk 94
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 expected to vary among MLSs, which may result in differing rules and enforcement protocols across MLSs. At least one major MLS has announced that it will not implement the new exemption at all as it believes it already provides a comparable offering for sellers.

Following NAR’s announcement, two significant brokers/listing aggregators stated that they will not publish any listing, for the life of the listing, if such listing (e.g., certain exclusives) is not posted to the MLS within a day of any public marketing (as defined by the aggregators). At least one aggregator has criticized this decision and stated that it will not implement such bans. The growing tension between brokers favoring private listings and those aggregators or MLSs increasingly restricting their use has led to litigation in one MLS.

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We are closely monitoring this situation as it continues to evolve. There is no recent industry experience with the widespread use of exclusive listings or with bans on certain exclusive listings by aggregator sites. Accordingly, it is difficult to predict how consumers, brokerages, agents, franchisees, MLSs, and portals will respond to these recent developments or the impact on our business.

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Third Party Data. This Quarterly Report includes data and information obtained from independent sources such as the Federal Home Loan Mortgage Corporation ("Freddie Mac"), the U.S. Bureau of Labor Statistics, the U.S. Federal Reserve Board, NAR and the Federal National Mortgage Association ("Fannie Mae"). We caution that such information is subject to change and do not endorse or suggest reliance on this data or information alone.

KEY DRIVERS OF OUR BUSINESSES 

Within Franchise Group and Owned Brokerage Group, our assessment of operating performance relies on the following key operating metrics: 

•Closed Homesale Sides: This metric captures the number of transactions representing either the "buy" or "sell" side of a homesale transaction.

•Average Homesale Price: This metric reflects the average selling price of closed homesale transactions.

•Average Homesale Broker Commission Rate: This metric indicates the average commission rate earned on either the "buy" or "sell" side of a homesale transaction.

For Franchise Group, an additional metric, Net Royalty Per Side, is utilized. This metric represents the royalty payment to the Franchise Group for each homesale transaction side factoring in royalty rates, homesale prices, average homesale broker commission rates, volume incentives and other incentives. Net royalty per side is a comprehensive measure that accounts for changes in average homesale prices and all incentives and represents the royalty