"In acquiring Anywhere's owned brokerage operation, as well as its franchise network, Compass now has the ability to create a vast portfolio of exclusive listings in many of the nation's largest housing markets. This has led many industry experts to believe that Compass is putting itself in a position to remake access to real estate data, potentially challenging the stronghold MLSs have over listing data."
"Mike DelPrete, a real estate industry technology strategist shared a similar take on LinkedIn. In 10 years time, what I think this deal will be known for the leverage it now gives Compass in its ongoing push for exclusive inventory, but really its challenge to the existing MLS, National Association of Realtors (NAR), and Zillow hegemony. Game on, DelPrete wrote."
"As a business owner it hurts me as I don't have access to that inventory for my buyer clients, Stella, the managing broker of Rutledge Properties, said. It also hurts Compass's sellers. My firm is the number two brokerage in Wellesley, and if my agents aren't able to find these listings they aren't bringing their buyers to see them. It will hurt consumers all around."
Over the past year, Compass expanded its exclusive listing inventory and acquired Anywhere's owned brokerage and franchise network, creating a vast portfolio across major housing markets. Industry experts view the move as positioning Compass to remake access to real estate data and potentially challenge MLS control of listings. MLS executives and strategists expressed concern about the leverage Compass gains against MLSs, the National Association of Realtors, and Zillow. Small brokerage owners worry restricted access to exclusive Compass inventory will limit buyer options and harm sellers. Some predict independent brokerages may form networks to share exclusive listings as a competitive response.
Read at www.housingwire.com
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