quick read
Chris Kelly, CEO of HomeServices of America, likened the segmentation of private real estate listings to the streaming industry’s multiple platforms and questioned the benefits to consumers. Kelly criticized the private listing trend, arguing that it complicates the home search process by forcing consumers to access multiple platforms. The remarks were made at Inman Connect New York amid industry debate about brokerages such as Compass expanding their private listing networks. Mr. Kelly stressed that private listings can interfere with a seamless consumer experience and disputed claims that he was putting buyers’ best interests first.
This summary was generated by an AI tool based on the article text and checked by an editor.
On stage with Joe Skousen and Stuart Siegel, Chris Kelly compared private listings to the fragmentation of video streaming.
Chris Kelly envisions a future where real estate listings are similar to video streaming.
“We were all very excited to cut the cable cord,” the president and CEO of Home Services of America said on stage at Inman Connect New York last month. “Remember when you finally did that, you probably said to your friends and family, ‘Hey, you finally cut the cord.’ And now you have Apple TV, Disney Plus, Netflix, Paramount, and the rest is all Peacock. […] How many of you are now saying, “Would someone please put all these things together in one place?” ”
The comments came amid a broader debate on private listings. Some brokerages (most famously Compass, but others as well) have worked in recent years to build networks of listings that don’t immediately appear on multiple listing services or major portals like Zillow. And the rise of these networks has sparked a huge debate among industry experts.
However, during an appearance on Inman Connect, Kelly painted a negative picture of a future dominated by private listings.
“Now I have to go […] “I can watch the shows I want to watch and see listings that may be on sale in 12 different locations. Tell me how it puts the consumer first or how it’s a better experience,” he said.
Kelly was joined on stage by Stuart Siegel, president and CEO of Engel & Völkers Americas, and Joe Skousen, CEO of Inside Real Estate. Watch the full discussion above.
