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s the National Association of Real Estate Brokers (NAREB) prepares to host its Building Black Wealth Tour, its president Dr. Courtney Johnson Rose sounds a warning about the potential consequences of an industry-wide shift towards private listings. The trend, she argues, could lead to a more opaque marketplace where consumers and independent brokers suffer.

    The push for private exclusives, driven in part by NAR's decision on Clear Cooperation, allows sellers to discriminate against specific buyers by limiting access to their properties. This, Dr. Rose claims, is not only unfair but also potentially discriminatory under fair housing laws. "If I'm a seller and I only want my listing to be advertised to people of a specific demographic," she notes, "I can do that through a pocket listing or an exclusive listing."

    The real estate industry's focus on private listings, Dr. Rose believes, is driven by big brokerages seeking to monopolize the market. By limiting access to inventory, these firms gain a competitive advantage over smaller, independent brokers and consumers. This trend, she warns, could lead to a less transparent marketplace where buyers are forced to navigate a complex web of exclusive listings.

    Independent brokers like Dr. Rose herself rely on the MLS for marketing, but the increasing use of private exclusives threatens their ability to compete. "If this is the way that the market is going," she says, "do I have to join one of these big firms to be able to compete?" The answer, she believes, is no – and that independent brokers should resist the pressure to conform.

    The data, Dr. Rose points out, shows that consumers get more money for their homes in a transparent marketplace where everyone can compete. By contrast, private listings benefit only the big brokerages, allowing them to discriminate against certain buyers and limit access to properties. "It doesn't help consumers," she concludes – and it's a trend that could ultimately lead to a less competitive market for all.