T
he Real Estate Industry's Step Backwards

    As I reflect on my decades-long journey in the residential real estate industry, I'm reminded of a painful past where discriminatory practices like redlining and racial steering were the norm. The Fair Housing Act of 1968 brought these injustices to light, and our industry has since made significant strides towards fairness and transparency. My father, John Jacobi, was among the pioneers who worked tirelessly with fellow brokers in Seattle to eliminate such tactics by sharing real-time listing information through the Northwest Multiple Listing Service.

    Fast forward to today, and we're at a crossroads. Compass, a prominent brokerage, is pushing for private listing networks that would control both buyer and seller access to properties. This move is nothing short of a return to the "caste system" of real estate, where only a select few hold power and influence.

    The secrecy surrounding these private networks is reminiscent of the industry's darkest days. Transparency creates accountability, but in this setup, buyers are left in the dark, forced to navigate the market without crucial information. This benefits Compass alone, while sellers are at their mercy, with no control over how their property is marketed.

    The notion that private listing networks lead to higher sales prices is a myth perpetuated by Compass. Studies have consistently shown otherwise. What's more concerning is Compass's aggressive tactics to bully MLSs and brokerages into submission, all under the guise of "seller choice." This is nothing but a power grab, driven by greed and a desire for control.

    The consequences of limiting access to inventory through one organization are dire. It creates an us-vs-them mentality within the industry, something we've fought hard to eliminate. Compass's actions are akin to an old-school bully, using intimidation to get its way. This is not only hurtful but also sets our industry back decades.

    In short, Compass's pursuit of private listing networks is a self-serving move that benefits them alone, while harming everyone else. It's time for the industry to stand together and reject this step backwards towards secrecy and elitism.