"I think this alliance marks the end of the restrictions that MLSs have had on agents and sellers on how they market homes. Because when they're restricting the agent and home seller, they're going to be restricting Rocket. I don't see a scenario where the MLSs will continue to enforce these restrictive rules with Rocket and Redfin on our side because we now have more resources."
"We're going to give our public listings to Rocket-Redfin, publicly searchable [by] 60 million people. In each of those markets, what's going to happen is that [the] MLS is going to send our agents a fine for up to $5,000. The agent is going to ask if we can help them, and we will, but what is the MLS going to tell the public?"
Compass announced a three-year exclusive partnership with Rocket Companies to display Compass Coming Soon Listings and Private Exclusive inventory on Redfin beginning March 16. The syndicated listings will exclude days on market and pricing history, requiring written seller permission. Initially available only to Compass agents, the program will expand to agents at any CIH brand later this year. Reffkin views this alliance as ending MLS restrictions on home marketing, arguing that Rocket and Redfin's resources will prevent MLSs from enforcing restrictive rules. He contends the partnership refutes claims that Compass hides listings, as these will be publicly searchable by 60 million people on Redfin.
Read at www.housingwire.com
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