Navigating the New Real Estate Landscape with a Trusted Local Realtor
Have you seen recent news stories about changes in how homes are being listed and marketed? As your local real estate expert, I wanted to share some important insights and explain what these changes mean for you as a homebuyer.
Exclusive Listings on the Rise
Recently, large brokerages have publicly stepped away from the National Association of Realtors (NAR), opting to market their listings internally first. These are known as “office-exclusive” listings, meaning new homes are shared within their brokerage before reaching the broader market. This gives sellers a chance to test pricing and demand without accumulating too many “Days on Market” (DOM).
For buyers connected to local realtors like myself, this means getting first access to new properties before they go public. But if you rely solely on online platforms like Zillow or Redfin, you may never even see some of these homes. This trend is gaining momentum, and I anticipate more brokerages adopting this approach soon.
Understanding the Three Main Listing Methods
When a seller decides to list a home, they typically choose from three main methods:
- Office Exclusive Listing: The property is neither publicly marketed nor shared on the MLS. Instead, it is available exclusively within the listing brokerage. This option helps sellers gauge interest and price accuracy without widespread exposure.
- Delayed Marketing Exempt Listing: The property is immediately available to MLS participants and subscribers but marketed solely by the listing firm during a defined delayed period. Eventually, it becomes fully public through IDX and syndication.
- Active Listing: This traditional approach ensures immediate and broad marketing exposure, listing the property directly on the MLS, IDX, and syndication platforms, making it publicly available to everyone right away.
Why Zillow Isn’t Always the Best Choice
Many brokerages choose not to immediately list homes on popular platforms like Zillow because these platforms match buyers with agents based purely on advertising budgets, not necessarily expertise or local market knowledge. These “pay-to-play” scenarios often lead to a less personalized experience and could result in missing out on the perfect home.
The Value of a Local Realtor
With the market evolving rapidly, my role as your local realtor has never been more critical:
- Exclusive Access: Working within a reputable brokerage gives me direct access to exclusive listings not available on Zillow, Redfin, or other public sites.
- Local Insight: My local connections and insider knowledge mean I can alert you to new listings even before they hit the broader market.
- Personalized Attention: Unlike random connections made through national platforms, my commitment is to your specific needs and preferences, ensuring you have the most tailored and effective home-buying experience possible.
Adapting to the Changing Market
The MLS Clear Cooperation Policy aims to ensure listings are broadly available once published. However, the real estate industry’s shifting dynamics, driven by brokerages seeking greater control over their listings and client interactions, have sparked considerable debate and pushback. Some larger brokerages are even considering leaving the National Association of Realtors to maintain this control.
Let’s Navigate This Market Together
The market is changing, and staying ahead requires working with someone who understands its nuances and intricacies. If you have questions or want guidance navigating these changes, please don’t hesitate to reach out. Call, text, or email me anytime—I’m here to help you secure your dream home.
Need Help With Home Financing Too?
For lending questions and tips on down payments, loan programs (including VA, FHA, and USDA), check out Matt Boytz’s blog on home financing. It’s a great resource to help you get started on the right financial foot.
—
Christi Thompson – RE/MAX Integrity – 541.915.8340 Christi@TheEugeneRealtor.com
