BROKERAGES GO ROGUE! IS THIS THE END OF MLS? Is it "Private Exclusives" or "Coming Soon"?
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Private Portal Deals Are Reshaping Real Estate — And Not Everyone Got an Invite
Zillow just launched a pre-marketing program with a select group of brokerages. Compass struck a landmark deal with Redfin. eXp went its own direction with Homes.com, Realtor.com. The question nobody's asking loudly enough: who does this actually serve?
In this episode, we break down the brokerage portal deals changing how listings reach buyers — and what it means for independent brokers, MLSs, and most importantly, the consumer. Joined by industry expert Russ Cofano of Alloy Advisors (former president of eXp World Holdings), we get into the thick of it.
What We're Covering:
The Compass-Redfin deal that set the whole chain of events in motion
What Zillow Preview is and why the timing is raising eyebrows
Whether "seller choice" is the real story — or a distraction
The real threat to MLSs hiding in plain sight
The Core Question:
Who owns the listing pipeline, and who does it serve?
Links & Resources:
How Zillow's Pre-Marketing Move Shifts the Competitive Landscape (Russ Cofano, Real Estate News):
https://www.realestatenews.com/2026/03/18/how-zillows-pre-marketing-move-shifts-the-competitive-landscape
Compass Finds a New Outlet for Exclusive Listings — Redfin:
https://www.realestatenews.com/2026/02/26/compass-finds-a-new-outlet-for-exclusive-listings-redfin
Eric Johnson on Zillow's reversal on coming soon listings:
https://www.linkedin.com/posts/eric-johnson-32694116_zillow-spent-years-telling-this-industry-activity-7439733767700832257-9FYi
James Dwiggins on MLSs, Compass, and what's really at stake:
https://www.linkedin.com/posts/jamesdwiggins_lets-be-100-crystal-clear-about-this-activity-7440433959639080960-zkpB
Vanessa Bergmark — Indie Broker Owner on Coming Soon Listings and Portals:
https://www.inman.com/2026/03/19/indie-broker-owner-on-coming-soon-listings-and-real-estate-portals-its-all-about-control/
Frequently Asked Questions:
What is the Compass and Redfin deal?
Compass and Rocket signed a three-year strategic alliance allowing Compass's Coming Soon and Private Exclusive listings to appear on Redfin — the same platform that had previously pledged to ban such listings.
What is Zillow Preview?
Zillow Preview is a new program that allows "coming soon" listings from select brokerage partners to appear on Zillow and Trulia before they are listed on the MLS.
Which brokerages are Zillow Preview launch partners?
Keller Williams, RE/MAX, HomeServices of America, Side, and United Real Estate.
Why did eXp not join Zillow Preview?
eXp cited a philosophy against exclusivity and instead announced a separate pre-marketing deal with Realtor.com and Homes.com.
Did Redfin always support Compass's private listings?
No. Redfin previously pledged to bar listings that had been publicly marketed but not shared via the MLS — a stance that reversed after Rocket acquired Redfin and brokered the Compass partnership.
Does Zillow Preview hurt independent brokers?
Many industry voices argue yes — large franchises can use portal access as a recruiting tool that smaller independents cannot match.
What does all of this mean for MLSs?
Listings in these programs do not need to originate in the MLS, potentially reducing its role as the central point of entry for listing inventory.
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