Washington Post writes about CCP and “secretive off-market listings”

Real estate battle over secretive off-market listings heats up

“When prospective home buyers come up empty-handed, seeing a “sold” sign on an ideal home that never showed up during their search rubs salt into the wound.

What’s frustrating to so many is these nonpublic sales, often known as off-market listings, shortcut the transparency that’s meant to inform the buying and selling process: Every home that’s listed by a real estate agent and marketed to the public is supposed to be visible through one of the hundreds of databases known as Multiple Listing Services (MLS).

Now, an internal battle is heating up between real estate brokerages over off-market listings — just as the dust is starting to settle on commission rule changes triggered by lawsuits against brokerages and the National Association of Realtors (NAR).”

Pretty balanced article about the issues surrounding CCP. This kind of headline is exactly what Brian Boreo warned about in his talk at CMLS in Seattle a couple months ago. Does the industry really need the messaging of real estate agents supporting “secretive off-market listings?” right now? I don’t think so.

I took at look at the comments on the article. While most of the comments were trashing The Washington Posts new commenting software, the AI summary did conclude…

“Concerns include the potential for discrimination, the manipulation of property prices by flippers, and the lack of transparency in pocket listings, which may benefit agents over sellers. Some suggest reverting to traditional methods or eliminating agents altogether.”

So there you have it Robert Reffkin, based on this summary many people would rather have no agents at all if the transparency the MLS provides goes away. Your move Compass.