How real estate agents view commissions, PLNs and MLS value
Compensation remains stable, but agents have mixed views on private listings and consolidation — and they want more from MLSs, a Cotality/ResiClub survey found.
Key points:
- Agents overwhelmingly reported positive career sentiment, and most have seen no change in commission rates since the NAR settlement took effect.
- A slight majority of the agents surveyed view private listings unfavorably, with about one-third saying PLNs should be eliminated entirely.
- While most agents are neutral about brokerage consolidation trends, overall sentiment is more negative than positive.
- MLSs still have value, agents say, but they want better market and consumer insights, AI pricing tools and more.
Existing-home sales have stalled at just over 4 million annually for three straight years — lows not seen since the mid-1990s. When adjusted for population, it's the lowest level of turnover since the early 1980s.
Despite the sales slowdown, career sentiment among real estate agents remains solid, according to a new industry survey from Cotality and ResiClub. Most agents (92%) said they plan to remain active for the next three years, and 83% expect to continue for five years or more. This outlook suggests many who planned to exit have already done so.
Still, agents are keenly aware of ongoing challenges — and have thoughts about what needs to change.
Commissions remain fairly stable
A majority of surveyed agents said their commissions haven't been impacted by the industry rule changes that took effect in 2024. About two-thirds (67%) said there's been no change, while just 5% said their commissions either rose or fell significantly.
That doesn't mean agents haven't felt additional pressures in the wake of the NAR settlement. More than two-thirds of agents surveyed (34%) said buyer-side compensation has been a key pressure point, with seller negotiations cited by 30% of respondents.
Interestingly, a recent Clever Real Estate survey of more than 500 agents across the U.S. found that commissions have been trending upward over the past two years, defying predictions that the settlement would result in lower agent fees. According to Clever, total commissions in 2026 currently average 5.7%, up from 5.32% in 2024 and 5.57% in 2025.
A dim view of private listings
Agents were largely critical of private or off-MLS listings marketed within brokerage networks before being widely shared. More than half of those surveyed (56%) said they view private listing networks somewhat or very unfavorably, with 53% saying they don't offer the option at all. About 33% said private networks should be discouraged entirely, while 24% said they should be integrated into the MLS with restrictions such as time limits and disclosure requirements.
This may be in part because seller interest hasn't increased: About 68% of agents said they'd seen no change in interest over the past year, while 20% found that interest has dropped and only 12% said more sellers are asking about PLNs.
Whether the typical seller benefits from PLNs or pre-marketing is an open question. According to a recent Zillow analysis, sellers who listed homes off the MLS lost an estimated $1 billion, or about $5,000 per transaction on average. Compass, on the other hand, says its data shows pre-marketed homes sell faster and for a higher price.
Consolidation is having a neutral-to-negative impact
Brokerage consolidation has accelerated, with larger companies gaining market share as smaller firms struggle to compete in a low-volume environment. MLS consolidation has also picked up as the industry adapts to regulatory changes and shifting economics.
But just over half of the agents surveyed (53%) were neutral about consolidation, indicating that it has not impacted their work. Of those who did report a noticeable effect, it was generally negative: 33% of respondents said consolidation was having a "somewhat" or "very" negative impact on opportunities in their market, while just 14% were experiencing a positive impact.
Broken down by region, agents in the West and Midwest were most likely to have experienced consolidation activity, but those in the South had stronger feelings about the trend. Among agents in the Southwest, views were disproportionately negative (44% vs. 6% positive), while agents in the Southeast were more likely than those in other regions to report positive impacts of consolidation (18%).
MLSs are still central, but agents want more
Agents remain supportive of multiple listing services as the backbone of residential real estate, with about two-thirds (67%) of those surveyed saying their local MLS is somewhat or very valuable to their business. However, that support comes with caveats.
Listing database and search functions were cited as the most useful tools MLSs provide, with 72% of agents finding them "very useful," according to the survey. Showing and scheduling tools, market and data statistics, and comparative market analysis tools were also regarded as at least somewhat useful by the vast majority of respondents.
The least valuable MLS offering? Customer relationship management tools, which more than two-thirds of agents (71%) deemed "not useful."
Only 14% of respondents said their MLS provides everything they need. More than 40% of agents want upgrades in:
Market analytics and trend insights
Consumer or buyer insights
Better integration with third-party platforms
Better comps and comparable-sales functions
Al-powered pricing, valuation or decision-support tools