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Restructuring Costs (Notes)
 9 Months Ended
Sep. 30, 2025
Restructuring and Related Activities [Abstract]  
Restructuring Costs RESTRUCTURING AND MERGER-RELATED COSTS
Restructuring and merger-related costs were $14 million and $38 million for the three and nine months ended September 30, 2025, respectively, and $6 million and $24 million for the three and nine months ended September 30, 2024, respectively.
The components of the restructuring and merger-related costs were as follows:
 Three Months Ended
September 30,		Nine Months Ended
September 30,
202520242025 2024
Merger-related costs (a)
$5 $— $5 $— 
Restructuring costs:
Personnel-related costs (b)
$3 $3 $11 $13 
Facility-related costs (c)
5 3 16 11 
Other (d)
1 — 6 — 
Total restructuring costs (e)
$9 $6 $33 $24 
Total restructuring and merger-related costs
$14 $6 $38 $24 
(a)Merger-related expenses incurred in connection with the pending Merger with Compass are included in the line item “Restructuring and merger-related costs, net” in the Condensed Consolidated Statements of Operations. These costs primarily consist of legal, advisory, accounting and other professional service fees and are expensed as incurred. Such costs are considered period expenses and are not included in the purchase consideration under ASC Topic 805.
(b)Personnel-related costs consist of severance costs provided to employees who have been terminated.
(c)Facility-related costs consist of costs associated with planned facility closures such as contract termination costs, amortization of lease assets that will continue to be incurred under the contract for its remaining term without economic benefit to the Company, accelerated depreciation on asset disposals and other facility and employee relocation related costs.
(d)Other restructuring costs consist of costs related to professional fees, consulting fees and other costs associated with restructuring activities which are primarily recorded at Corporate.
(e)Restructuring costs for the three months ended September 30, 2025 include $6 million of expense related to Reimagine25 and $3 million of expense related to prior restructuring plans. Restructuring costs for the three months ended September 30, 2024 include $6 million of expense related to prior restructuring plans.
Restructuring costs for the nine months ended September 30, 2025 include $25 million of expense related to Reimagine25 and $8 million of expense related to prior restructuring plans. Restructuring costs for the nine months ended September 30, 2024 include $24 million of expense related to prior restructuring plans.
Reimagine25: Strategic Transformation Initiative
In 2025, the Company launched Reimagine25 to transform how it operates as a Company. The initial phase of this initiative focuses on reimagining its branch operating model, improving product and technology infrastructure, optimizing leads management, streamlining finance processes, and enhancing procurement. These efforts are designed to simplify, integrate, and digitize operations, leveraging advanced technologies such as generative artificial intelligence to provide better solutions at a lower cost. As part of Reimagine25, the Company will incur restructuring costs associated with the implementation of these transformative changes. As the Company's transformation progresses, it may further expand the Reimagine25 focus areas to encompass additional aspects of the business.
The following is a reconciliation of the beginning and ending reserve balances related to Reimagine25:
Personnel-related costsFacility-related costs
Other
Total
Balance at December 31, 2024
$— $— $— $— 
Restructuring charges (a)
11 8 6 25 
Costs paid or otherwise settled(5)(5)(6)(16)
Balance at September 30, 2025
$6 $3 $— $9 
(a)In addition, the Company incurred $3 million of facility-related costs for lease asset impairments in connection with Reimagine25 during the nine months ended September 30, 2025.
The following table shows the total costs currently expected to be incurred by type of cost related to Reimagine25:
Total amount expected to be incurred Amount incurred
to date		 Total amount remaining to be incurred
Personnel-related costs$13 $11 $2 
Facility-related costs12 8 4 
Other costs
8 8 — 
Total$33 $27 $6 
The following table shows the total costs currently expected to be incurred by reportable segment and Corporate and Other related to Reimagine25:
Total amount expected to be incurred Amount incurred
to date		 Total amount remaining to be incurred
Franchise Group$3 $3 $— 
Owned Brokerage Group17 12 5 
Title Group2 1 1 
Corporate and Other11 11 — 
Total$33 $27 $6 
Prior Restructuring Plans
The Company has prior restructuring plans related to previous operational efficiency initiatives and transformation of the Company's corporate headquarters. At December 31, 2024, the remaining liability related to prior restructuring plans was $17 million. During the nine months ended September 30, 2025, the Company incurred $8 million of costs and paid or settled $16 million of costs resulting in a remaining accrual of $9 million at September 30, 2025.