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Basis Of Presentation (Tables)
 3 Months Ended
Mar. 31, 2025
Organization, Consolidation and Presentation of Financial Statements [Abstract]  
Fair Value Hierarchy
The following table summarizes fair value measurements by level at March 31, 2025 for assets and liabilities measured at fair value on a recurring basis:
Level ILevel IILevel IIITotal
Deferred compensation plan assets (included in other non-current assets)$1 $— $— $1 
Contingent consideration for acquisitions (included in accrued expenses and other current liabilities and other non-current liabilities)
— — 2 2 
The following table summarizes fair value measurements by level at December 31, 2024 for assets and liabilities measured at fair value on a recurring basis:
Level ILevel IILevel IIITotal
Deferred compensation plan assets (included in other non-current assets)$1 $— $— $1 
Contingent consideration for acquisitions (included in accrued expenses and other current liabilities and other non-current liabilities)
— — 2 2 
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation
The following table presents changes in Level III financial liabilities measured at fair value on a recurring basis:
Level III
Fair value of contingent consideration at December 31, 2024$2 
Additions: contingent consideration related to acquisitions completed during the period— 
Reductions: payments of contingent consideration
— 
Changes in fair value (reflected in general and administrative expenses)— 
Fair value of contingent consideration at March 31, 2025$2 
Fair Value, by Balance Sheet Grouping
The following table summarizes the principal amount of the Company’s indebtedness compared to the estimated fair value, primarily determined by quoted market values, at:
 March 31, 2025December 31, 2024
DebtPrincipal AmountEstimated
Fair Value (a)		Principal AmountEstimated
Fair Value (a)
Revolving Credit Facility$610 $610 $490 $490 
7.00% Senior Secured Second Lien Notes640 569 640 564 
5.75% Senior Notes558 453 558 442 
5.25% Senior Notes449 334 449 337 
0.25% Exchangeable Senior Notes403 375 403 359 
_______________
(a)The fair value of the Company's indebtedness is categorized as Level II.
Investment Income
Three Months Ended March 31,
 20252024
Guaranteed Rate Affinity (a)
$1 $2 
Title Insurance Underwriter Joint Venture (b)
— — 
Other equity method investments (c)
— (1)
Equity in losses of unconsolidated entities
$1 $1 
_______________
(a)The Company's 49.9% minority-owned mortgage origination joint venture with Guaranteed Rate, Inc. ("Guaranteed Rate Affinity") at Title Group had an investment balance of $53 million and $65 million at March 31, 2025 and December 31, 2024, respectively. The Company received $11 million in cash dividends from Guaranteed Rate Affinity during the first quarter of 2025.
(b)The Company's 22% equity interest in the Title Insurance Underwriter Joint Venture at Title Group had an investment balance of $73 million at both March 31, 2025 and December 31, 2024.
(c)The Company's various other equity method investments at Title Group and Brokerage Group had a total investment balance of $40 million and $44 million at March 31, 2025 and December 31, 2024, respectively. The Company received $3 million in cash dividends from other equity method investments during the first quarter of 2025.
Disaggregation of Revenue The Company's revenue is disaggregated by major revenue categories on our Condensed Consolidated Statements of Operations and further disaggregated by business segment as follows:
Three Months Ended March 31,
Franchise Group
Owned Brokerage Group
Title Group
Corporate and OtherTotal
Company
2025202420252024202520242025202420252024
Gross commission income (a)$— $— $976 $907 $— $— $— $— $976 $907 
Service revenue (b)45 46 5 4 75 69 — — 125 119 
Franchise fees (c)138 131 — — — — (65)(61)73 70 
Other (d)21 23 9 8 3 2 (3)(3)30 30 
Net revenues$204 $200 $990 $919 $78 $71 $(68)$(64)$1,204 $1,126 
______________
(a)Gross commission income at Owned Brokerage Group is recognized at a point in time at the closing of a homesale transaction.
(b)Service revenue primarily consists of title and escrow fees at Title Group and are recognized at a point in time at the closing of a homesale transaction. Service revenue at Franchise Group includes relocation fees, which are recognized as revenue when or as the related performance obligation is satisfied dependent on the type of service performed, and fees related to leads and related services, which are recognized at a point in time at the closing of a homesale transaction or at the completion of the related service.
(c)Franchise fees at Franchise Group primarily include domestic royalties which are recognized at a point in time when the underlying franchisee revenue is earned (upon close of the homesale transaction).
(d)Other revenue is comprised of brand marketing funds received from franchisees at Franchise Group and other miscellaneous revenues across all of the business segments.
Deferred Revenue by Arrangement
The following table shows the change in the Company's contract liabilities (deferred revenue) related to revenue contracts by reportable segment for the period:
 Beginning Balance at January 1, 2025Additions during the periodRecognized as Revenue during the periodEnding Balance at March 31, 2025
Franchise Group:
Deferred area development fees (a)$37 $1 $(1)$37 
Deferred brand marketing fund fees (b)15 15 (18)12 
Deferred outsourcing management fees (c)3 10 (9)4 
Other deferred income related to revenue contracts5 8 (4)9 
Total Franchise Group
60 34 (32)62 
Owned Brokerage Group:
Advanced commissions related to development business (d)11 2 — 13 
Other deferred income related to revenue contracts1 3 (1)3 
Total Owned Brokerage Group
12 5 (1)16 
Total$72 $39 $(33)$78 
_______________
(a)The Company collects initial area development fees ("ADF") for international territory transactions, which are recorded as deferred revenue when received and recognized into franchise revenue over the average 25 year life of the related franchise agreement as consideration for the right to access and benefit from Anywhere’s brands. In the event an ADF agreement is terminated prior to the end of its term, the unamortized deferred revenue balance will be recognized into revenue immediately upon termination.
(b)Revenues recognized include intercompany marketing fees paid by Owned Brokerage Group.
(c)The Company earns revenues from outsourcing management fees charged to clients that may cover several of the various relocation services according to the clients' specific needs. Outsourcing management fees are recorded as deferred revenue when billed (usually at the start of the relocation) and are recognized as revenue over the average time period required to complete the transferee's move, or a phase of the move that the fee covers, which is typically 3 to 6 months depending on the move type.
(d)New development closings generally have a development period of between 18 and 24 months from contracted date to closing.