Each week on The Download, Inman’s Christy Murdock takes a deeper look at the top-read stories of the week to give you what you’ll need to meet Monday head-on. This week: Leaders across the brokerage landscape had thoughts on the private listings debate, and they weren’t shy about sharing them.
If you were hoping that the long holiday weekend and summer sunshine would result in a kumbaya moment for the real estate industry, this week made it clear that real estate leadership is far from ready to settle down when it comes to the latest drama: The debate around privately marketed listings.
READ THE LATEST: Compass agrees to share exclusive listings, with 2 caveats
Following Compass’ open letter to the National Association of Realtors and MLSs around the country, wherein CEO Robert Reffkin indicated that the brokerage does not consider NAR’s Clear Cooperation Policy or any other national NAR MLS rule as “binding” and will not comply with them, real estate leaders waded into the fray with their takes on how Compass’ move will impact clients, brokerages and agents.
Dwiggins on Compass, Zillow and real estate ‘Armageddon’
In advance of his appearance at Inman Connect San Diego, James Dwiggins sat down for a free-wheeling, two-part Q&A in which he talked about three possible paths in the aftermath of Compass’ private listings policy changes and Zillow’s ban on such listings:
- “No. 1 is there will be massive litigation from this coming in time. The only reason why it hasn’t started yet is there’s not a big enough class. I’ve spoken to class-action lawyers who are like ‘this is easier to win than Burnett.’”
- “No. 2 is Compass doesn’t get its way, and this whole game slows down, and it’s used selectively for sellers that legitimately need to do that, and we get back towards serving buyers and sellers correctly.”
- “Path 3 is Armageddon. You have the worst consumer experience ever created, where all this inventory is held back, trying to be sold internally, which is what this game is about.”
DON’T MISS PART 2: ZILLOW UNDERSTANDS THE CONSUMER BETTER THAN NAR
Along with Dwiggins, Inman contributors and industry thought leaders weighed in with their own takes on the controversy, providing client-focused, economic and marketing perspectives on how private listings affect buyers, sellers and the agents who make real estate run.
How industry infighting makes it harder for clients to achieve the American
Battles among real estate heavyweights make the market less transparent and harder to navigate for the people we’re supposed to be helping, Troy Palmquist writes.
EXp CEO: You can’t champion consumers and gatekeep
In an Inman Exclusive, Leo Pareja, CEO of eXp Realty, writes that exposure sells homes, while shielding listings hurts sellers, limits buyers and undermines trust.
Competing philosophies, exclusive listings and the consumer trust tipping
Chris Kelly, president and CEO of HomeServices of America, asks whether decisions being made today are strengthening or weakening real estate pros’ role in the homeownership journey.
Whether it’s a penthouse or a purse, visibility matters: Exclusive
Coldwell Banker Realty President and CEO Kamini Lane writes that private property listing claims ignore the basic logic of supply and demand.
Christy Murdock is a writer, coach and consultant and the owner of Writing Real Estate. Connect with Writing Real Estate on Instagram and subscribe to the weekly roundup, The Ketchup.
