Company: HOUS
Filing Date: 2025-02-25
Form Type: 10-K
Source: 0001398987-25-000020
Chunk: 7

Company: Anywhere Real Estate Inc.
Filing Date: 2025-02-25
Form: 10-K
Item: Item 7
Chunk 7
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 required by the NAR Settlement and potentially on broader restrictions or bans on offers of compensation. The scope of the DOJ's scrutiny may also expand to include the Clear Cooperation Policy or other industry rules or practices. 

Industry rules and practices, particularly those that mandate behavior by industry participants, have drawn increasing scrutiny and criticism, including from various industry participants as well as regulators, as an outgrowth of the industry antitrust litigation. These rules and practices include the Clear Cooperation Policy, the rules mandating participation in state and national Realtor associations in order to post on the local MLS, the rules limiting access to lock-boxes used to facilitate property showings and the rules that limit display of co-mingled MLS and non-MLS listings.

The growing rules debate over the Clear Cooperation Policy could lead to material consequences for industry participants however it is addressed. Given the decades of industry practice that have led to the current system of broad public distribution of listings, it is difficult to understand the full range of impacts that might result from any particular resolution of the current rules debate. The withdrawal or significant minimization of the Clear Cooperation Policy obligations leading to increased privatization of listing content could benefit those brokerages and franchise systems with the largest listing inventory. Conversely, a failure by the industry to address the existing concerns with the rule's restrictions could result in increased industry litigation and regulatory scrutiny.

In addition, individual or cumulative impacts of ongoing industry change may cause more industry participants to evaluate their options and could lead to higher levels of industry consolidation than has been customary.

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The ultimate impact to us of changes to industry rules and practices and/or the decision to maintain those practices, will depend on future developments, which are highly uncertain and difficult to predict, as well as the actions that we have taken, or will take, to minimize any current and future impact on our revenue, profitability, or liquidity.

For a discussion of the current legal and regulatory environment and how such environment could potentially impact us, see Part I., "Item 1.—Business—Government and Other Regulations" and Part I., "Item 1A.—Risk Factors" in this Annual Report.

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.