T
he real estate market is facing a critical threat as forces prioritizing self-interest over fair competition and consumer protection gain momentum. This struggle between business and consumer interests is not new, but the stakes are higher than ever. In the past, listing information was shared through word of mouth or exclusive listing books, known as pocket listings, which led to unfair practices like redlining and race-based zoning policies.

    Today, major real estate players are actively undermining open access, revealing the risk of a fragmented marketplace where access to listings can be dictated by factors other than a buyer's qualifications. This necessitates a robust and standardized framework beyond current MLS rules or NAR policies. The current trajectory will lead to a two-tiered system that locks out many buyers and sellers.

    NAHREP believes fair access to property information is more than best practices; it's a matter of fair housing. Historically, the Hispanic community has faced discrimination and barriers to accessing housing. Policies promoting cooperation and access help dismantle these barriers by ensuring all listings are available to all agents and buyers. Transparency prevents exclusionary practices that disproportionately affect communities of color.

    Fair access to property information is vital for small businesses and brokerages, particularly those owned by NAHREP members, who rely on equal access to property listings to serve their clients effectively. Without such policies, larger brokerages could manipulate listing access to their advantage, creating an uneven playing field. Fair and transparent access supports competition and provides small businesses with equitable opportunities.

    NAHREP acknowledges and supports recent industry efforts to provide access to all listings, including Zillow's policy to no longer list properties from brokers' private listings if those properties are being publicly marketed, eXp Realty's full support of the Clear Cooperation Policy, and Redfin's advocacy for prompt MLS entry. However, self-regulation is not enough; fair access must be codified in state and local laws.

    NAHREP urges policymakers to enact legislation and ordinances that mandate adherence to these principles, creating a robust and enforceable framework. By formalizing fair access to property information through state and local laws, we can create a real estate ecosystem that is fair, transparent, and accessible to all, benefiting homebuyers, supporting small businesses, promoting competition, and strengthening the overall health of the real estate market.