Compass says its data shows benefits of ‘pre-marketing’ listings
The firm said homes initially listed privately sold faster and for a higher price, supporting its position that sellers should decide if or when to use the MLS.
Compass is providing an early look at research into the impact of "pre-marketing" listings through the brokerage's Private Exclusives and/or Coming Soon channels.
What Compass found, according to a Feb. 21 media release, was that "home sellers who opted to extend their marketing runway by controlling when to list their properties on the Multiple Listings Services (MLS) and public websites" saw increased sale prices and quicker offers.
Dave Crosby, the chief data officer at Compass, called the findings "an encouraging signal" and a validation of the company's position that sellers should have "more choices on how they market their property and list on the MLS."
The new data comes just days after Zillow offered its own in-depth look at private listings, which found that sellers who did not list on the MLS "left more than $1 billion on the table" in 2023 and 2024, with an average loss of nearly $5,000 per home. An earlier study by Bright MLS had similar findings.
Why it matters: NAR's Clear Cooperation Policy, which requires homes to be listed on the MLS within one business day of being publicly marketed, has become one of the most hotly debated topics in real estate.
Compass CEO Robert Reffkin has been a vocal advocate for an end to the policy, saying it limits seller choice.
Those who disagree with Reffkin say private listings are bad for consumers and the industry, and they also carry legal risks.
A closer look at the Compass report: Unlike the Zillow study, which analyzed millions of transactions across 46 states in 2023 and 2024, Compass focused on its own sell-side transactions in 2024.
The brokerage compared listings that were pre-marketed through its private networks before going on the MLS to listings that went straight to the MLS. What Compass found was that pre-marketed homes "were associated with an average 2.9% higher close price to those that were not pre-marketed."
Pre-marketed homes also received accepted offers 20% faster — which translated to 8 days sooner — once they went live on the MLS, and they were about 30% less likely to have a price drop, Compass said.
What's next: Compass will release the full report "at a later date," a rep said. Meanwhile, the industry continues to debate Clear Cooperation, while the National Association of Realtors considers the policy's future "with no specific date" for a decision.