Written by: Internal Analysis & Opinion Writers
Zillow has announced a sweeping policy shift that aims to clamp down on the widespread use of “pocket listings”—properties marketed privately without being listed on a Multiple Listing Service (MLS). Starting May 1, homes that have been publicly marketed outside the MLS will no longer be allowed on Zillow’s platform. The move is being positioned as a step toward greater transparency and equal opportunity in home buying.
The decision throws a wrench into strategies employed by some of the nation’s largest brokerages, including Compass, which uses a system called “Private Exclusives” to market listings within its internal network before opening them to the broader market. Errol Samuelson, Zillow’s Chief Industry Development Officer, underscored the company’s focus on consumer fairness. “This is about consumers first,” Samuelson said. “Whenever we as an industry look at what the buyers need, what the sellers need before what we need as a brokerage or as a portal—if we put consumers first, everyone wins.”
Under the new rule, any public marketing—such as a post on social media or a listing featured on a brokerage’s website—will trigger a requirement for that property to be listed on an MLS within one business day. If that requirement is not met, Zillow will remove the listing from its site. This new standard closely aligns with the National Association of Realtors’ (NAR) Clear Cooperation Policy, which seeks to close loopholes that allow for selective marketing of properties.
However, Zillow’s version of the policy goes further. Unlike NAR’s guidelines, which include exemptions for certain types of listings, Zillow’s approach will not recognize those exemptions. Even if a property is designated as an “office exclusive” under NAR’s rules, Zillow will treat any form of public promotion as a trigger for mandatory MLS inclusion. In short, any home that has been publicly marketed in any form must be on the MLS if it is to appear on Zillow.
Some brokerages have already embraced the shift. eXp Realty, which boasts more than 85,000 agents across the country, has committed to full compliance with Zillow’s updated listing standards. “This partnership is about delivering value and building trust,” said eXp CEO Leo Pareja. “Those are two things that matter more than ever in today’s rapidly evolving real estate landscape.”
But not everyone is on board. Compass CEO Robert Reffkin has strongly defended the use of private listings, arguing they offer key advantages to sellers—including greater control, increased privacy, and the ability to avoid market stigma caused by price reductions or long listing durations. Reffkin also claims that sellers often achieve higher prices through private listings than they would on the open market. Zillow disputes that claim, citing its own internal data, which suggests public marketing tends to generate better results for sellers.
The growing debate over private listings taps into larger concerns about fairness and accessibility in real estate. Critics argue that pocket listings limit market exposure and create barriers for buyers who aren’t part of exclusive networks. This can disproportionately affect minority and first-time homebuyers, who often rely on public listings to compete in competitive markets.
Doug Miller, a consumer advocate and attorney involved in multiple lawsuits over real estate commission practices, has voiced concern that pocket listings could open the door to discriminatory practices or even antitrust violations. “Office exclusives,” he warns, “are a way to segment the market and create silos of opportunity that leave out the general public.”
Zillow’s new policy seeks to eliminate that possibility by creating a more consistent and transparent standard for how homes are marketed. Samuelson believes that drawing a clear line is essential for restoring trust in the home buying process. “It’s just the principle,” he said. “You’re either publicly marketing it, in which case it’s fair and equitable for everyone, or it’s private. Those are your two paths.”
Zillow’s announcement could significantly reshape how listings are managed and shared, especially for luxury or high-profile properties that have traditionally been marketed discreetly. It may also prompt changes in how brokerages advise clients about listing strategies, potentially leveling the playing field for buyers who don’t have access to internal brokerage networks.
For now, the industry is in a state of adjustment. Brokerages, agents, and sellers are reviewing their current practices to determine how they will adapt. While some view the change as a long-overdue step toward transparency, others see it as an overreach that could limit strategic flexibility for sellers seeking discretion.
As the real estate market continues to evolve in the face of rising rates, constrained inventory, and shifting buyer demographics, Zillow’s policy could set the tone for broader changes in how listings are handled across the industry. Whether other platforms follow suit remains to be seen, but the message is clear: transparency and access are becoming non-negotiable in a marketplace increasingly driven by consumer expectations.
The coming months will be a critical test of how this new standard plays out in practice. Zillow’s stance places the spotlight firmly on the issue of listing equity—and in doing so, may redefine what fairness means in the modern home buying experience.
