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Xp Realty has introduced a new disclosure form for sellers looking to pre-market their home off the MLS, as part of its agent toolkit. The brokerage describes this move as "seller choice, accompanied by seller truth," echoing Compass CEO Robert Reffkin's stance that limiting or forbidding pre-marketing impedes on an individual seller's rights.

    The new disclosure form, titled "Risks of Limited Market Exposure," highlights four key points: private exclusives not on the MLS can limit buyer exposure, introduce financial risk, lead to a longer sale time, and prevent homes from being listed on top search sites. The form also includes links to research suggesting that pre-marketing and private exclusives result in fewer views, lower sales prices, and longer sale times.

    eXp Realty is making its disclosure form "open source" for use by anyone in the industry. During a recent livestream presentation, CEO Leo Pareja expressed concerns about monopolistic and antitrust issues arising from brokerages pushing exclusive channels, warning of a potential "fair housing disaster." SVP Holly Mabery emphasized the brokerage's fiduciary responsibility to act in the best interest of sellers.

    The move follows eXp Realty's endorsement of Zillow's new listing standards, which prohibit listings that are publicly marketed but not on the MLS. Pareja stated that if eXp were acting purely as capitalists, it would benefit from closed networks, but instead chooses to empower sellers and not restrict buyers. "Anytime we limit access, it limits opportunities," Mabery said.