The fundamentals of why buyers and sellers need skilled, knowledgeable, and honest real estate agents remain the same.
Something has changed in the last few days. I want every agent reading this to understand what it is. Because whether you’re ready or not, it’s going to show up at your next listing appointment.
The real estate market that real estate agents have relied on for decades—one cooperative system with broad access to all qualified professionals—is disintegrating. Not slowly. The largest organizations in our industry are building parallel inventory channels, and distributors across the country are sitting at the kitchen table trying to navigate it.
Compass, which acquired Anywhere Real Estate and is now the nation’s largest residential brokerage with 340,000 agents, has entered into a three-year partnership with Rocket and Redfin to display properties before MLS filing.
Zillow launched the Preview in collaboration with Keller Williams, REMAX, HomeServices of America, Side and United Real Estate, and 24 other brokerages. Howard Hanna launched HannaList. Douglas Elliman launches Elliman Private Listings. EXp has announced that it will soon begin syndication to Realtor.com, Homes.com and ComeHome.com starting April 15th.
Currently, approximately half of all real estate agents are affiliated with brokerage firms that have formal private listing structures or pre-market portal partnerships. This is no longer just about one company. It’s about the industry. And agents who plan for it now will be successful.
The MLS that built the business still exists. However, this is no longer the first destination for increasing inventory share. That changes what you need to know before you walk in the door.
What fragmentation actually means
When I started in this business 40 years ago, MLS was everything. Once you list and submit, all agents can see your listing and buyers compete. The system wasn’t perfect, but it was collaborative and gave all agents equal access to all listings.
To be clear…we have moved from being a cooperating broker to a competing broker.
What is currently being built is something else. Large intermediaries are creating inventory ecosystems where listings circulate between their agents and buyers before being listed on the broader marketplace. Some sellers prefer fewer foot traffic, more privacy, and a single point of contact. These are legitimate benefits for the right seller in the right situation.
The practical reality for many agents is: If your brokerage doesn’t have a formal pre-market program, you may end up working primarily from public MLSs. In the MLS, inventory is increasingly arriving after it has already been seen elsewhere.
The buyer may be losing their home. The seller may be hearing pitches about programs you don’t offer. Neither has to put you at a disadvantage, but only if you’re prepared.
How to level the playing field
I’m not writing this to stir up anxiety. 40 years of watching this industry has taught me that agents who understand that change is happening can build stronger businesses through it.
Regardless of the programs your brokerage offers, here’s how to compete effectively in a fragmented market.
Understand what each option actually offers, including trade-offs
Private listings and coming soon strategies have significant benefits, including:
Reduced confusion for sellers Improved privacy Fewer parties involved, smoother process
There are also trade-offs involved. At the pre-market stage, the buyer group becomes more limited, which may affect price competition.
Zillow’s study of 2.72 million transactions and Bright MLS data both confirm that pre-market listings take longer to sell and can impact the final price. That’s not an argument against them. That’s information worth considering for sellers.
Agents who can honestly present both sides and let the seller make the decision are doing something truly valuable.
Build accessible relationships
Private listings are not listed and displayed on the portal. Therefore, it changes through relationships. Introduce yourself to a listing agent from one of the leading businesses in the market today, before buyers need you.
A call with a specific qualified buyer is not about cold questioning. It’s a professional conversation that opens doors that MLS can’t. Be the agent they think of when they need a qualified buyer for an unlisted property.
Monitor upcoming platforms daily instead of weekly
Pre-market inventory is currently available on several platforms. Zillow previews, Redfin’s Compass Coming Soon display, and eXp’s multiportal syndication are all publicly available. Agents who check these daily will see a much different market than agents who check weekly.
In a competitive market, getting a 48-hour head start on a pre-market listing can be the difference between writing an offer and reading a just-sold notification.
Position your value around access and knowledge
In a fragmented market, agents who know not just what inventory appears on the MLS, but where it actually resides, offer something buyers can’t replicate on their own.
This is a stronger value proposition than it was five years ago. Please use it.
Please be honest about your situation during your next buyer consultation. A growing percentage of homes don’t show up on Zillow at all, and working with an agent who knows how to find them is completely different than searching the portal alone.
The market is changing faster than most agents realize. But the fundamentals of why buyers and sellers need skilled, knowledgeable, and honest agents remain the same. In a fragmented market, these fundamentals become more valuable, not less.
Agents who understand what’s going on and show up prepared for it will be the agents most trusted by their clients when this moment in the industry finally settles down.
