Source: The Real Deal —
A challenging housing market halved Anywhere’s third-quarter profits compared to last year, and company executives said on an earnings call they think the market will get slower yet.
That could mean more layoffs and lower commission splits for some brokers, an area that executives acknowledged as a potential cost-saver.
The real estate conglomerate formerly known as Realogy, whose flagship brands include Corcoran, Sotheby’s International Realty and Coldwell Banker, reported $55 million in quarterly income, down from $114 million in the same period last year.
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