The Horswell Collection | 2025 Annual Report

Elegant

NATURAL

Rarefied

PERSPECTIVE

haute

Astute

Classic

intrepid

‘However impenetrable it seems, if you don’t try it, then you can never do it.’ Lew Wasserman Former Chairman & CEO, MCA Universal

The real estate industry is always full of surprises. A large one came in my direc- tion as I was asked to join Coldwell Banker Bain this June. The prospect of join - ing a globally-recognized brand in coming from a regional family-owned concern was not only an honor but also a teachable moment about where the future of the profession will lead. The combination of our parent Anywhere (NYSE: HOUS) with Compass (NYSE: COMP) is a compelling testament to positive evolution within the space and is awaiting shareholder and regulator approval in 2026. At its GenBlue Conference in September, the company unveiled a new campaign, “Live well with Coldwell,” a dynamic accent to the brand promise we extend through over 100,000 sales professionals in more than 2,700 offices across 39 countries and territories. I have ended each publisher column in my magazine REGENCY for three years with, “ ...not just to live, but live well. ” The alignment of thought by coincidence with the company’s new campaign is notable and rein- forces the decision to strengthen my brand through this international affiliation. As the economy continues to shift, our guidance comes from a number of infor- mation sources including The Aspen Economic Strategy Group, The Conference Board and leaders in business including Carlyle Group and Goldman Sachs as well as regional economists at a variety of forums. The opinion for 2026 is cautiously optimistic with an emphasis on realistic expectations as the frenzy of post-pandemic rates evolves into more normalized patterns. With the Federal Reserve Chair term ending in May 2026, the new appointee will influence interest rates but that does not necessarily correlate with how mort - gage markets respond. Housing supply and affordability will continue to be a macro issue for the private sector to address in concert with government author- ities with no easy solutions on the horizon, however numerous organizations are involved in advancing new ideas for equity and opportunity. As AI continues to dominate worldwide conversations on application, its place within The Collection will remain in a supporting role and does not replace the al- ways-original creative we produce that ignites the imagination of our audiences.

DISCLOSURE: Although forward-looking statements about the economy and real estate industry contained in this report are based upon what The Horswell Collection™ and Broker Richard Horswell believe are reasonable assumptions, there can be no assurance that they will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements and do not represent opinions of Anywhere ® Real Estate Inc. or Compass Inc.

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