Private listings and Clear Cooperation

In response to broker feedback, the California-based MLS has added a new option for coming-soon listings allowing sellers to forego broad internet distribution.

The best listing strategy is the one that works for the homeowner, aided by an agent who helps them understand their options and gives them freedom of choice.

In response to new legislation limiting certain real estate marketing practices in Washington state, NWMLS hosted a panel to discuss the law and its intent.

On a recent webinar, industry observers discussed policies, partnerships and laws related to listing access. The conclusion? It’s too soon to say who’s right.

The real estate marketing law, which took effect June 11, would seem to prohibit Compass Private Exclusives — but the brokerage interprets it differently.

Windermere Real Estate’s addendum aims to counter efforts to obscure listing details and help buyers “gauge whether relevant information is being withheld.”

A recent WAV Group white paper seeks to reframe the debate dividing the industry by comparing coming-soon and private listings to a company’s IPO preparation.

Agents working with sellers must make listings “available to the general public” concurrent with any public marketing, such as lawn signs or social media posts.

Amid public disagreements between brokerages, portals and MLSs about “objective criteria” for the display of listings, NAR hopes to provide clarity.

Using the MLS system to restrict access, punish competitors or advance one's interests at the expense of the market costs the consumer more than anyone else.

While some leaders see the pre-marketing movement as a threat, others believe the MLS will continue to thrive — as long as it’s “adding value to the ecosystem.”

Amid a flood of brokerage pre-marketing partnerships with MLSs and portals, some leaders fear the industry is abandoning the ideals of cooperation and fairness.

While the Council of Multiple Listing Services has decried private listings, some MLSs have adopted policies that look a lot like Compass’ 3-phased approach.

More than two-thirds of agents took a supportive or neutral stance. Criticism was largely focused on the difficulty of meeting the one-day listing requirement.

Less than two months after the portals launched competing pre-market listings programs, the search giants have now agreed to collaborate on listing display.

Consumer interest also appears low, with nearly 70% of agents saying no client has asked for their home to be marketed privately, a Real Brokerage survey found.

A new CFA report found that homebuyers haven’t been deterred by agent fees, but affordability remains a problem, and “pocket listings” are an emerging threat.

A study suggesting that pre-marketing could lead to an inventory boost has been criticized by Zillow Chief Economist Mischa Fisher: “The math doesn't hold up.”

As new distribution models emerge, the industry faces a fundamental question: Maintain an open marketplace or control access to listings?

Brown Harris Stevens CEO Bess Freedman draws a clear line between private listings and PLNs: “You have to be honest” about days on market, she says.