Compass, the U.S. real‑estate brokerage that grew to over 200,000 agents after buying Anywhere Real Estate, faces a New York antitrust probe. The investigation follows the $1.6 billion acquisition that expanded its footprint and consolidated two of the industry’s largest platforms.

Compass already dominated U.S. sales volume before the merger, and the deal added Century 21, Sotheby’s and Coldwell Banker brands to its portfolio. The merger broadened its service reach but raised concerns that a single firm could limit competition among listings, agents and technology providers.

The New York attorney general’s bureau launched the probe after the deal closed, citing potential market concentration. Shares dropped 12% on Wednesday, reflecting investor anxiety over regulatory scrutiny and possible penalties that could reshape the brokerage’s growth trajectory.

If regulators impose restrictions, Compass may need to divest assets or limit certain services to restore competitive balance. The outcome will signal how aggressively state authorities will police consolidation in the housing market and could influence future mergers across the industry for real‑estate firms nationwide and investors today.