Completed the acquisition of Anywhere Real Estate Inc. on January 9, 2026, issuing approximately 162.1 million shares of Class A common stock. Acquired the Christies International Real Estate brand in January 2025, expanding into the global luxury real estate market. Operates as a global real estate services company with a presence in 120 countries and 39 U.S. states. Served over 37,000 real estate professionals at its owned-brokerage business as of December 31, 2025. Manages a franchise business under multiple recognized brands, including Better Homes and Gardens Real Estate, Century 21, Christies International Real Estate, Coldwell Banker, Coldwell Banker Commercial, Corcoran, ERA, and Sothebys International Realty. The combined global network of real estate professionals exceeded 340,000 following the Anywhere Merger. Provides integrated services such as title and escrow, relocation, and mortgage/title underwriting through joint ventures. Revenue increased by $1,332.5 million (23.7%) to $6,961.6 million in 2025 from $5,629.1 million in 2024. Net loss decreased to $(58.5) million in 2025 from $(154.4) million in 2024. Adjusted EBITDA increased to $293.4 million in 2025 from $126.0 million in 2024. Total Transactions increased by 22.1% to 250,360 in 2025. Gross Transaction Value increased by 23.2% to $267.0 billion in 2025. The number of Principal Agents increased by 19.4% to 21,190 as of December 31, 2025. Incurred $18.1 million in Anywhere merger transaction and integration expenses in 2025. Issued $1.0 billion in 0.25% Convertible Senior Notes due 2031 in January 2026, with net proceeds of approximately $880 million after costs. Assumed Anywhere's outstanding debt, including $500.0 million of 9.75% Senior Secured Second Lien Notes due 2030, $640.0 million of 7.00% Senior Secured Second Lien Notes due 2030, $559.0 million of 5.75% Senior Notes due 2029, and $449.0 million of 5.25% Senior Notes due 2030. Anywhere agreed to a nationwide antitrust settlement of $83.5 million in October 2023, with $30 million paid and $53.5 million remaining due in 2026. An ongoing workforce reduction plan is being implemented in Q1 2026, with estimated pre-tax charges of $50 million to $55 million.