eXp launches app for off-market listings
The company says eXp Exclusives is not meant to replace MLSs, but it provides a way to work with sellers who want to keep their listings private.
eXp has launched eXp Exclusives, an app designed to surface "off-market and pre-market" listings to its agents, and in some areas, their clients as well.
How does it work? eXp Exclusives is a mobile app powered by Zenlist. Participating agents in the United States and Canada can use it to share off-market and pre-market listings with other eXp agents. The app will also contain all of eXp's active MLS listings.
Is this a replacement for MLSs? The brokerage sees it as complementary. "At eXp, we firmly believe the highest and best form of marketing a property is placing it in the MLS and exposing it to as many people as possible," Chief Strategy Officer Leo Pareja told attendees at EXPCON this week. "But we also understand that there are situations where sellers may not want to enter the property into an MLS due to restrictions in showing it, and many other unique scenarios."
Why has eXp created this? Pareja said agents wanted a way to deliver "an enhanced level of service for exclusive, off-market listings." There is particular demand for this in the luxury space, where high-profile clients may be reluctant to publicly list their homes for sale.
Do other brokerages have similar products? The platform is similar to offerings such as Compass Private Exclusives, which also leans into the ability to keep property details from being shared on public home search sites. Compass' program comes with its own caveats: It's not available in all markets, and local policies may limit how Private Exclusives can be shared between agents.