Big Firms, Big Promises — But Do They Deliver?

The recent acquisition of Anywhere by Compass marks one of the largest consolidations in the history of the U.S. brokerage landscape. On paper, it’s the kind of deal that signals strength: more agents, more offices, more scale.

But as Bess Freedman, CEO of Brown Harris Stevens, reminds us that “bigger doesn’t always mean better,” especially when it comes to serving sellers. Her message cuts through the noise of consolidation to underscore what matters most for clients—transparency, advocacy, and maximum exposure.

Freedman points out that sellers can get lost in the shuffle when mergers prioritize corporate strategy over client service. It’s not the size of the company that determines results, but the quality of representation and the integrity of the process.

Earlier this year, Freedman warned about private listing programs, writing: “Any brokerage that advocates for only marketing listings internally is not putting the client’s interests first. Private exclusives should be the exception, not the rule.” This underscores her belief that trust and long-term success come not from volume, but from transparency.

While firms chase size for its benefits, it’s important to remember its limits. A broader platform may offer reach, but it doesn’t guarantee higher sale prices or smoother client experiences. Sellers care less about whether their brokerage has tens of thousands of agents and more about whether their property is marketed effectively, priced intelligently, and positioned to attract the right buyers. 

Private listing networks can put sellers at risk by reducing exposure and limiting a property to a smaller pool of buyers. While that may serve a firm’s internal strategy, it undermines the seller’s right to maximum visibility.

One reason Brown Harris Stevens, a privately held firm, has thrived is its flexibility. Free from the bureaucracy of public structures, it can be nimbler in developing marketing strategies and client solutions that focus on long-term goals. And while larger firms offer reach and infrastructure, smaller firms often excel in agility, attention to detail, and a sense of community. For sellers, those qualities can translate directly into better results.

This week’s blog post isn’t meant as a critique of mergers and acquisitions, but rather as a reminder for sellers—and the industry itself—to ask better questions. Does the brokerage put my interests first? Will my property get maximum exposure? Is my agent empowered to advocate for me without corporate policies limiting the process?

If there’s one takeaway, it’s that the best brokerage for sellers isn’t always the biggest. And in today’s market, that may be the most important headline of all.

Serj Markarian