Jacobi, a Windermere alumnus, wrote that Washington University’s leadership should not be considered an exception. It should be a blueprint.
Washington Governor Bob Ferguson this week signed Senate Bill 6091, which bans the sale of residential real estate to exclusive groups of buyers and brokers, sending a clear message that “transparency is important.”
This bill was not born out of political theory or academic debate. It stemmed from real tensions in the real estate industry. The question is whether openness and equal access to property information will remain core principles, or whether the market will fragment into private networks that benefit only a select few.
For decades, residential real estate has served as one of the most open markets in America, and the world. Unlike many countries where listing data and property information is tightly guarded, buyers and sellers in the United States have primarily operated in a system where inventory and information is widely shared. This openness is no accident. It is the foundation of consumer trust and fair market value.
In recent years, some major national brokerages have been promoting the expansion of their private property networks. It is an exclusive, invitation-only platform that limits who can view and access homes for sale. These practices reduce exposure, limit competition, and ultimately work against the very people the real estate industry is meant to serve.
It’s clear that consumers expect transparency. Buyers want confidence that they can see the full range of homes available, and sellers want assurance that their properties are reaching the widest possible audience. When transparency is lost, so is trust in the system.
Washington State’s actions were thoughtful, purposeful, and bipartisan. Lawmakers on both sides recognized that housing markets work best when information is widely shared and access is equal. This law protects consumers without restricting legal off-market sales, allows homeowners to restrict access to their property, and simultaneously provides exemptions to protect the safety and health of residents.
Few businesses stand to lose as much from this law as Windermere. With the largest market share in Washington, our privately listed network may have worked to our advantage. We supported this bill anyway. Because protecting transparency is more important than protecting market position or corporate profits.
Washington’s leadership should not be seen as an exception. It should be a blueprint. By reaffirming the importance of open markets, the country protected the system that has served consumers well for many years.
Other states should take note: Washington hasn’t reinvented real estate. One of the most important principles was followed.
In doing so, we proved that progress doesn’t always mean building something new. Sometimes it’s important to protect what’s already working.
Jacobi, alumnus, is co-president of Windermere Real Estate.
