In a matter of weeks this quarter, all the major brokerages partnered with portals to pre-market their listings. Compass routed its pre-market listings to Redfin; Zillow formed its own coalition—with Keller Williams, Berkshire Hathaway HomeServices, RE/MAX, United Real Estate and Side—as it launched Zillow Preview. And eXp Realty announced a “Coming Soon” partnership with Realtor.com®,…
“Premarket listings.” It’s the new industry catchphrase, thankfully replacing “commission lawsuits,” but, alas, it comes with its own controversy. The practice of promoting a property to potential buyers and agents before being listed on the Multiple Listing Service (MLS) has also made its way into the courtroom, most prominently via a tussle between Compass and…
Zillow on April 10 announced that an additional 28 brokerages have signed on to be part of its “Zillow Preview” premarketing program, bringing the total to “nearly 60,” according to the portal, as the industry continues to parse out the principles of this strategy. The new companies appear to be mostly large regional brokerages, including…