R
eal estate still feels like a labyrinth, even as the rest of the world moves toward instant, transparent services. Buying a house is the only major purchase that keeps you navigating a maze of hidden rules, middlemen, and jargon that only surfaces when you’re hit with a bill.
The industry’s process is deliberately outdated, fragmented, and opaque. Buyers and sellers are handed a system that relies on layers of brokers, commissions, and proprietary data, then told to trust it. Property information is locked behind multiple‑listing services (MLS) that only agents can access, while costs are buried in fine print that even seasoned buyers struggle to decode. Instead of simplifying, the market has added more scaffolding on top of an already shaky foundation.
Transparency is not accidental; it’s built into the business model. MLS data, the lifeblood of housing markets, has long been controlled by brokerages and associations. To see basic information, you must go through an agent, who pays dues to local and national bodies. Consumers never had unfiltered access. When a few gatekeepers hold the data, they also control pricing, timing, and terms. The less the public understands, the more they depend on insiders, making it hard to question fees.
This structure made sense when data lived in filing cabinets, but in 2025 it is indefensible. We can track packages in real time, invest from our phones, and see the cost of almost any service. Yet when it comes to buying a home—a major financial decision—people still operate in the dark.
Other sectors have already shed this opacity. Retail’s e‑commerce platforms let anyone compare prices and read reviews. Fintech firms like Stripe, Robinhood, and Wise democratized payments, trading, and banking. Travel moved from opaque agents to direct booking sites for flights, hotels, and experiences. These shifts happened because transparency builds trust, and those who resisted lost relevance.
Real estate has lagged. Technology has been applied superficially—sleek websites, digital listings, AI buzzwords—while the core business model remains unchanged. Closed MLS systems, commission structures, and gatekeeping practices persist beneath a glossy veneer. Transparency has been added as a layer of paint, not a fundamental change.
The cost of this opacity is real money. Buyers and sellers still pay large commissions, often without understanding how they’re calculated. Hidden fees and unclear responsibilities push first‑time buyers to the brink. Sellers discover too late that they’ve overpaid for services that could be standardized or automated. Even basic searches are limited because listings can be withheld, delayed, or marketed selectively. Exclusive deals and pocket listings keep inventory hidden, giving buyers a false sense of completeness.
Proptech has not yet solved the problem. Platforms like Zillow promised to open doors, but instead added another middle layer. They provide a polished interface and more data, yet they monetize access and prioritize lead generation for agents over clarity for consumers. For many buyers, scrolling Zillow feels modern but is essentially the same opaque experience as working with an agent.
The next wave of proptech can break this cycle, but only if it goes beyond aesthetics. True transparency means unlocking MLS data, standardizing costs, and giving buyers and sellers the tools to navigate transactions without gatekeepers. It means placing consumers at the center of the experience, not as leads to be sold but as active participants in a clear, navigable system.
Real estate stands at a crossroads. It can continue defending a gatekeeping, opaque model, or it can modernize and rebuild trust through transparency. Cultural resistance has lasted longer than most, but consumer expectations have shifted. People now demand real‑time updates, honest pricing, and the ability to understand the systems they use. Regulatory scrutiny is tightening, and tech entrepreneurs are pushing for open systems. The industry can either lead the shift or be dragged into it.
If real estate wants to remain relevant and avoid becoming the travel agents who refused to adapt, it must treat transparency not as a threat but as the foundation for the next era of growth.
