Coach Darryl Davis writes that the days of a single, consolidated real estate market where all available homes can be found in one place are over. I’ll explain next.
Something is changing in the real estate market, but most buyers don’t realize it’s happening.
The listing environment buyers have relied on for 20 years—one central location, one search, one click to see all the homes—is being disrupted. Currently, two distinct categories operate outside of traditional MLS.
The first is true private property, where the home is never publicly advertised and is only visible within one broker’s internal network.
The second category is pre-market or soon-to-be-released homes, which are available to the public on portals like Zillow and Redfin, but have limited visibility.
Compass Private Exclusive falls into the first category. Zillow Preview and Howard Hanna’s HannaList, in partnership with Keller Williams, REMAX, and HomeServices, fall in second place. Currently, buyers searching a single portal will miss out on homes in both categories.
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According to Compass’ fourth quarter 2024 SEC earnings report, 55% of Compass new listings in February 2025 started out as private exclusive properties or coming soon, and did not reach the MLS on the first day. Additionally, Zillow’s own research shows that sellers who list homes that are not on the MLS lose between 1.5% and 3.7% compared to homes that are on the MLS.
The system is being restructured to benefit the big brokerages, but most consumers still don’t know about it.
What this means for you as a buyer agent is that your job has become increasingly difficult. And your value has increased significantly.
As markets become more fragmented, agents who can navigate the entire market become essential. You are no longer just a negotiator. you are the map
What the buyer is about to face
For many years, MLSs and the portals they feed have been the foundation of our industry. Buyers can search Zillow or Realtor.com and feel pretty confident that they know the entire market. Those days are coming to an end.
What buyers are about to experience is more like a treasure hunt than a search. Homes will be placed on private brokerage networks, soon-to-be platforms, and agent-to-agent channels, each of which will only be accessible through the right connections of the right companies. When buyers operate alone, they see a narrower market than actually exists. They end up losing a home they never knew was available.
That disorientation and frustration? That’s your opening.
Silver lining: You are now an aggregator
In a unified market, finding a property was a big deal. Any motivated buyer can open the portal and check out the market. Your value was in your lawyer, negotiation skills, and ability to manage the deal.
In a fragmented market, finding real estate is no longer something buyers can easily do on their own. Agents who can aggregate inventory from direct intermediary relationships, upcoming platforms, and off-market channels currently offer something that buyers alone cannot duplicate.
Your value proposition used to be, “We help you negotiate and close.” This is what it looks like now. “We’ll help you find, negotiate and close a home that you can’t find on the market.” That’s a more powerful conversation, and buyers are ready to hear it.
How to actually do this: 4 moves
1. Call the listing agent directly about co-brokering private inventory
This is the most underutilized skill in a buyer agent’s toolkit. Once you’ve found a pre-approved and willing buyer, call a listing agent at a leading brokerage in the market. It’s not a mass email, it’s a phone call. Tell them:
“I have a buyer looking for a 3-bedroom in this neighborhood in price range X to Y. He’s ready to move in. If anything comes up in the next 30-60 days, I’d love to talk to him about co-brokering.”
You’re looking for a conversation, not a commission. Most agents will take that call.
2. Create a detailed wish list for every buyer before you start your search.
When you call a listing agent about private inventory, be sure to accurately describe the buyer, including location, price range, size, timing, necessities, and what sealed the deal. The more specific you are, the more helpful it will be to that listing agent. Specificity opens doors that cannot be achieved with vague requests.
3. Monitor upcoming platforms daily instead of weekly.
Zillow Preview — launched in collaboration with Keller Williams, REMAX, HomeServices of America, Side, and United Real Estate to show upcoming listings on Zillow and Trulia before they hit the MLS. Compass’ upcoming listings now appear on Redfin through the Compass/Rocket/Redfin partnership. And eXp Realty plans to syndicate upcoming listings in April to Realtor.com, Homes.com and ComeHome.com.
Having a 48 hour lead on an upcoming product is the difference between writing an offer and reading a notification that it just sold.
4. Understand market availability before buyers need it
Before your next conversation with a buyer, know which brokers control the largest share of local private or pre-market inventory, which Zillow Preview partners are active in your market, and which Coming Soon feeds are active. An agent who visits you already understands the situation and provides a fundamentally different level of service.
How to communicate this to buyers
“The real estate market has changed. Homes are no longer sold only on the MLS. More properties are not listed on Zillow or public portals. My job is to find those homes, not just those that anyone with an internet connection can see. When you work with me, you’re not searching the same database as everyone else. You’re accessing a network.”
It’s not a script. That’s true. And buyers will understand that right away because it speaks directly to the frustration they’re about to feel.
Agents who win in this market
MLS isn’t dead. Cooperation is not dead. But gone are the days of a single, unified marketplace where you could find all your vacant homes in one place. What comes next is rewarding agents who understand the situation, make the calls, and show up as connectors to buyers that they can’t do on their own.
This industry has given you a reason to be indispensable. Please use it.
