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B Jacobi, Co-President of Windermere Real Estate, recently discussed the controversy surrounding private listings on Real Estate Insiders Unfiltered. He believes private listings are a "ticking time bomb" for Compass, which has adopted this strategy, and that NAR should stay out of rulemaking.

    The debate over private listings has become increasingly contentious, with Jacobi and Compass CEO Robert Reffkin publicly trading barbs. Agents are also taking sides, and social media has amplified the conflict. "It gets nasty now," Jacobi said. Despite the tension, he thinks it's essential to stand up for what's right in the industry.

    Jacobi warns that many sellers who choose private listings aren't doing so by choice but because their agents recommend it. This approach could lead to lawsuits, as buyers may claim they were denied a chance to get more money on the open market. "I think there's huge risk in it," he said.

    While ensuring seller privacy is crucial at times, Jacobi believes that for most listings, wide exposure is beneficial. He thinks having a system catering to private listings doesn't make sense and that Windermere has the tools to handle sensitive situations within the MLS.

    Jacobi also expressed his desire for NAR to give up control of rulemaking and allow local MLSs to set their own guidelines. He wants real estate professionals to have more autonomy over their markets, which could ultimately benefit NAR by allowing it to focus on lobbying and consumer advocacy. Jacobi predicts that NAR will become stronger by releasing some power and focusing on its core strengths.