"In one week, the industry built new infrastructure to keep listings off the MLS longer and a state legislature said that exact practice is illegal. That should tell you something."
"Pocket listings may create conditions for disparate impact under the Fair Housing Act, whether anyone intends that or not. When access to a listing depends on which agent you know or which network you're in, and those networks aren't exactly diverse, some buyers never even get the chance to compete."
"Now entire brokerages are routing listings through portal partnerships, and the buyer pool for each home gets shaped not by the market but by which portal the seller's brokerage happens to have a deal with."
In a week, significant real estate deals reshaped the industry, with Zillow signing brokerages and rewriting listing standards. eXp partnered with major platforms, while Compass urged MLSs to allow pre-marketing. Washington state enacted a law against private listings, highlighting a fair housing issue. Pocket listings could lead to disparate impacts under the Fair Housing Act, limiting competition for buyers based on agent connections. The shift towards brokerages routing listings through partnerships raises concerns about market access and diversity in the buyer pool.
Read at www.housingwire.com
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