Last week, Compass announced a three-year partnership with Redfin and Rocket to display exclusive “coming soon” and private listings. The listings will be displayed on Redfin’s website and will be visible to approximately 60 million users. I knew something like this had to happen.
I had no prior knowledge of this partnership, but I knew that thanks to the Anywhere merger, and given Robert Refkin’s stance on fighting Zillow and freeing agents from the shackles of the MLS “mob,” Compass would somehow partner with a lending giant like Rocket to flex its muscles and further disrupt the industry.
Welcome to a new tectonic shift. What does this partnership mean? As a Coldwell Banker agent, I see many benefits, but I also have some unanswered questions.
1. Innovation + Massive Exposure
There is no doubt that this was not just a bold move, but an innovative move. Compass was already a disruptor in the industry, so we decided to disrupt even more for a win-win. They wanted a broader platform to showcase upcoming and private listings without penalties or restrictive rules. Rocket needed more content (listings) to drive business to the Redfin website.
According to a Rocket press release, the Redfin website and Redfin app are expected to receive nearly 2 billion visits this year. That’s a lot of highlights. In addition, Rocket enhances the deal by lowering the interest rate by one percentage point in the first year of the loan or offering up to $6,000 in lender credit, reducing upfront costs and first year payments.
As a Coldwell Banker agent under Compass International Holdings (CIH), this is a no-brainer. This gives us the freedom and flexibility to offer sellers options and not be limited by MLS rules and regulations that don’t fit every seller’s situation.
People’s lives are complex and there are extenuating circumstances. For example, I meet many seniors whose homes are “aging out” and they are no longer able to live there due to cost, upkeep, upkeep, or health reasons.
There are a variety of reasons that often make it difficult to go through the typical “ready to sell” or listing process required in our industry. A private listing gave them dignity, time, and control. Additionally, being able to provide customers with access to major national financial institutions that offer discounts to make their purchases more affordable is very attractive.
2. Move up Zillow
There’s no denying that this move is in response to friction between Compass and Zillow. Compass didn’t intend to reinvent the wheel by building a portal, but the upcoming private listings put Zillow in a precarious situation by connecting it to Redfin, which already has buyer traffic and can offer things Zillow didn’t allow. In a highly fragmented and competitive market, the ability of CIH agents to generate listing leads is significant.
We have become exhausted as an industry by losing the opportunity to lead with our own listings, while MLSs have been paid large sums of money to syndicate data to thousands of portals. These portals sold our own leads from our subordinates and caused confusion among the public as to who they were dealing with. It also led to the realization that we are “door openers”.
3. Flexibility = more opportunities
Today’s buyers are more selective than ever. Even after the craziness of the pandemic, they are not willing to compromise. Many people are looking for that needle in the haystack. What if that needle could be brought to market in a low-pressure environment?
Moving is much more difficult than it was before 2020. Because of the economics, people don’t know where to go. Many people don’t want to sell because they feel they have more to give up than they gain, but they do want to. This gives sellers a way to make that happen.
This all sounds great, but there are some things to consider.
4. Flashing yellow light – proceed with caution
Will MLS, Zillow, and other portals penalize CIH listings that appear on the Redfin portal? If a seller ultimately decides to migrate to MLS (e.g., in the near future), will they devise a punitive system that does not allow CIH agents to do this? If so, what protections are in place?
Since this partnership involves Rocket Mortgage (which owns Redfin), could this be seen as a push to steer consumers toward them as the lender of choice?
Given the current class action lawsuit involving Zillow-led consumers directed to use Zillow home loans, what steps will be taken to ensure this partnership does not go down a similar path?At this point, the idea of influencing consumers to use a particular lender is not a good one for the industry or the public at large.
Will the rates and fees offered by Rocket really be competitive, or will consumers find better alternatives when it comes to shopping despite the increased perceived “discounts”?The lending industry is already full of confusion for consumers, who simply don’t understand or care about the complexities of loan pricing. They want the best rates without the hassle.
5. Transparency
How will the public and the industry perceive this partnership amid ongoing disputes between buyer representation, agent fees, referral fees, and preferred or partner financial institutions?
Not showing days on market or price history may seem appealing, but will buyers and other agents be suspicious? What about having to visit yet another website to search for listings in an already saturated market? Do people who want access to these listings have to register with the website?
After all, the goal is to generate leads, not be a public relations service. Will consumers accept it? Will legal action be taken to dissolve the company?
6. Preferred Lender
Intermediaries within Anywhere have existing preferred lending relationships such as Guaranteed Rates, participate in various events and activities, and provide grants. Will this partnership pave the way for Rocket to replace its existing financing partners?
They will not be able to compete in acquiring potential buyers from this portal. So what does it make sense for them to stay on this portal? What does this mean for the preferred lending relationships across the franchise Anywhere brand?
7. Mimic movements
Bold actions often inspire other bold actions. The question is, who’s next? People in a position to do something can’t afford to sit around without a competing platform, so backdoor discussions are likely taking place at some level. It remains to be seen how MLS and the major portals will react, but we’re sure there will be more to come on this.
There are more questions than answers at this point. And we don’t know how it’s going to go until it actually happens. But nothing is perfect and you have to start somewhere. It’s all one grand experiment, and it takes bold leaders willing to push the boundaries of what’s possible.
The days of being complicit in compliance may be coming to an end. As expected, there will be some friction and backlash. Nevertheless, I commend Robert Refkin for having the vision and fortitude to take this step toward emancipation for agents and sellers.
It’s 2025, not 1995. The real estate industry is usually the last industry to innovate and is often its own worst enemy.
We’ve self-sabotaged on so many levels, and we’re trying to take it all back to gain consumer respect for what we do and how we do it.
The way consumers want to interact with real estate is constantly changing. Forcing a round peg into a square hole is no longer acceptable. True leadership involves taking risks when it makes sense. We look forward to seeing where this partnership takes us.
Cara Ameer is a licensed Coastal Agent with Coldwell Banker in California and Florida. You can follow her on Facebook or X (previously known as ). Twitter.
