T
he battle lines have been drawn in the real estate industry, with two factions vying for dominance on the issue of private inventory. On one side, Zillow is asserting its market muscle to discourage private listings, while Compass and its allies are pushing for office exclusives.

    Zillow's updated standards for home listings, announced in a blog post on April 18, have sparked a heated debate. The company has made it clear that publicly marketed but not MLS-shared listings will be barred from Zillow.com. Industry leaders have weighed in, with some defending Zillow's stance and others accusing the company of anti-competitive behavior.

    Compass CEO Robert Reffkin fired back at Zillow, alleging that the company is engaging in "bully behavior" and abusing its monopoly power. He claimed that Zillow makes money by selling buyer leads to inexperienced agents and that the company is essentially saying to homeowners: "You can't sell your home unless I get some revenue off of it."

    eXp Realty CEO Leo Pareja and SVP Holly Mabery, who have been vocal supporters of Zillow's position, pushed back against Compass's claims. They argued that sellers do have a choice and that the idea that private exclusives work in their favor is "disingenuous." Pareja also challenged Reffkin to debate the issue in person.

    The battle between these two factions has only just begun, with both sides trading barbs on LinkedIn. As the dust settles, one thing is clear: the future of private inventory and MLS listings hangs in the balance.