No Clear Cooperation? Expect ‘an explosion’ in private listings 

Repealing the National Association of Realtor's Clear Cooperation Policy could not only lead to a mad dash by brokerages to capture more private listings, it would have consequences for agents, consumers and the notion of "a fair and democratic housing market." 

Those were some of the conclusions coming out of a panel discussion on private listing networks and the CCP this week hosted by the Association of Real Estate License Law Officials (ARELLO) and Zillow.

Here's what the panelists had to say.

Big brokerages will lean into private listings; small ones will be shut out

One of the most likely outcomes of a CCP repeal would be the continued consolidation of brokerages and larger firms using their might to shut out smaller ones because private listing networks "are primarily being operated by the national large brokerages," said Errol Samuelson, Zillow's chief industry development officer.

"If you're an agent at a smaller or independent brokerage, and you don't have access to those listings, it's really hard for you to compete for buyers, because buyers — even if they would like to work with you at your indie brokerage — feel obliged to perhaps go work with the larger brokerage because that's the only way they can get access to those listings."

Art Carter, CEO of the California Regional Multiple Listing Service, put it bluntly: "You're going to see an explosion" of private listings. "For some of the large brokerages, in order to be competitive, they're going to have to go down this road if CCP is gone."

Housing market market data will be obscured

With fewer listings on the MLS, consumers and agents would have less visibility into what is actually happening in their market, some panelists suggeste. "Anything that limits opportunity and reduces transparency is antithetical to a fair and democratic housing market," said Laurie Benner, associate VP of housing and community development for the National Fair Housing Alliance.

Others made similar comments, suggesting that keeping listings in private networks instead of on the MLS would be detrimental to the availability and accessibility of market data.

"There's a lot of discussion about days on market and price changes and if that information is disseminated to the consumer," Carter explained. "We have a belief that those things are important. The transparent exchange of information — no matter if it is something that might disadvantage a seller in a transaction — is factual."

The move toward private listings could lead to more lawsuits

Janet Thoren, ARELLO's 2025 president, believes the industry "will see more potential fair housing issues," adding that a "pretty broad swath of individuals and entities" — including brokerages and agents — could be involved in civil lawsuits. Carter said that anecdotally, his team is hearing about "those lawsuits already popping up."

"With the growing re-emergence of these private listing networks, there's a high probability of furthering adverse impacts for marginalized buyers," explained Benner. 

"I see it as a potential huge step backward in terms of consumers as a whole, but particularly for consumers of color, consumers from marginalized groups, and by extension, the real estate agents and Realtors that serve those particular groups."

Good for sellers — or brokerages?

Carter noted the complexity of a typical real estate transaction and the "hundreds of forms" a seller needs to sign, questioning whether private listing strategies are "fully explained" to sellers. 

A Zillow survey conducted in January found that many agents are recommending private listing networks to their sellers — but they are not educating their clients about what that really means. According to the survey, 68% of the consumers who worked with an agent said their agent did not explain the difference between the MLS and private listing networks when discussing ways to market a home.

"We believe sellers are not getting adequate disclosures," said Samuelson.

But are PLNs an important way to respect a client's wish for privacy — a concern cited by some CCP opponents? The panelists appeared united in their belief that the privacy argument may be disingenuous or even misleading. 

Samuelson called it "overblown," noting that most MLSs already have tools to provide privacy for sellers by obscuring the address or photos, or simply choosing not to send the listing to the portals. Carter added that it's not an issue for the vast majority of sellers, arguing that the percentage of people who "have a compelling reason to not have exposure" is "far south of 5%."

Instead, the push for private listing networks "is about recruiting clients and recruiting agents," said Benner. "It's 'Hey, we have this secret, sneaky stash of properties just for you.' It's really about exclusivity rather than privacy."