New ‘marketing transparency’ form a ‘protective tool’ for buyers 

A major regional brokerage wants to give buyers more visibility into listings at a time when some firms are moving to obscure certain property details. 

Windermere Real Estate, a Seattle-based brokerage with more than 6,500 agents and offices across nine Western states, released a new home sale addendum on Thursday intended to heighten buyer awareness of pre-marketing and its potential impact on listing information.

A promise from seller to buyer

The "Marketing Transparency" addendum — which is optional — includes two warranties to be provided by a seller: 1) The property has not been pre-marketed (publicly or privately) within a disclosed number of days prior to being listed on the MLS, and 2) There have been no price reductions during that pre-listing period. 

The form describes each warranty as "a material representation upon which the buyer is relying in making their offer."

The development of the addendum, Windermere said in a news release, was driven by "the rise in private listing networks and off-market marketing strategies across the industry, a move by certain larger brokerages that has sparked concerns around transparency and consumer access to both inventory and market information." 

Countering efforts to 'hide' listing details

Windermere highlighted days on market, price history and pre-marketing as important information for buyers, adding that "certain brokerages" may be "hiding" those metrics — and consumers may not realize they aren't seeing the full picture.

While the announcement did not mention any brokerages by name, the Seattle firm has been openly critical of Compass and its 3-phased marketing approach, which involves promoting a property as a Compass Private Exclusive and then as a Coming Soon listing before putting it on the MLS. During that pre-marketing period, price reductions and time on market — metrics Compass has repeatedly referred to as "negative insights" that disadvantage sellers — are not tracked. 

Compass International Holdings CEO Robert Reffkin, meanwhile, has his own beef with Windermere, suggesting last year that the brokerage was colluding with Northwest MLS — which Compass sued in April 2025 — to restrict competitors' marketing practices. 

What's in it for sellers?

The addendum is framed as a benefit that promotes transparency and gives buyers "a mechanism to gauge whether relevant information is being withheld" — essentially leveling the playing field for buyers and their agents, the announcement suggested. 

"Both buyers and sellers have a right to make informed choices and to trust that their agents are acting in their best interests with reasonable diligence and care," Windermere Co-president OB Jacobi said.

But why should sellers agree to sign? "What the addendum actually does is reinforce good-faith dealing in a transaction," Lucy Wood, Windermere's newly minted regional director, told Real Estate News in an email.  

"The representation in the addendum is completely voluntary, and sellers can decline or modify it," Wood noted, but "sellers who have genuinely marketed their property through proper channels have nothing to be concerned about. The addendum is a protective tool for buyers, and we believe it is a positive step for sellers."

Franchise owners, agents 'thankful' for new form

When developing the addendum, Windermere "considered perspectives" shared by its brokers but designed it to be "general and flexible, allowing agents to adapt it to their regional and individual experiences," Wood said.

The brokerage's franchise owners and agents, she noted, have rallied behind "Windermere's ongoing commitment to transparency in the name of consumer protection," and the response to the addendum has been positive thus far. 

"They're thankful for this addendum because it gives them a simple framework to help address with their buyers the issue of missing or inaccurate pre-listing information and how that may impact their offer," Wood said, adding that it "gives them an additional tool to serve their clients' best interests."

A step toward 'preserving transparency'

Wood acknowledged that the addendum is not "a definitive solution to the problems created by private listing networks," but believes it can serve as "one of many steps toward preserving transparency in the market."

While the brokerage does not have plans to make the addendum a required form, Wood said Windermere hopes "that states, MLSs, and other real estate brands will develop similar, or even stronger, policies and protections."

The news release noted that several states have passed or are considering laws limiting certain private listing practices and/or requiring disclosures for sellers — including Washington state, which recently passed a law restricting exclusive marketing that took effect today.

"Agents have a fiduciary duty to advocate for their clients' interests," Wood said. "That responsibility shouldn't get lost amid broader industry shifts. Consumers deserve clear information, thoughtful counsel, and confidence that every recommendation is being made with their goals — not outside pressures — in mind."