Open Market or Closed Doors? What Sellers Should Know About Private Listings and Open Real Estate

The short answer: for most sellers, open marketing wins. When every buyer and every agent can see your home, you get the most competition, and competition is what sets your price. Private, "in-house first" listings can make sense in rare cases like serious privacy needs, but they shrink your buyer pool. That's why I market every listing openly through the MLS and cooperate with every brokerage.

Here is what's changing, and what it means for you.

What is Open Real Estate?

On October 26, 2026, a group of national brokerages announced Open Real Estate, a free, national listing data-sharing initiative that any brokerage can join. Real Brokerage, through its parent company Real REMAX Group, is one of the founding members of Open Real Estate, and I'm proud to be part of one of the founding brokerages. The idea is simple: an agent enters a listing once, and it flows to participating brokerages, local MLSs, home search sites, appraisers and data services.

A few facts worth knowing:

• It is not a national MLS. It is designed to work alongside local MLSs, which keep setting local rules.
• Members must submit a listing within one business day of signing a listing agreement.
• Listings can be in a public "market view" or, for rare privacy cases, a "participant view" that only member agents can see and nobody can market publicly.
• It is still being built, with a launch targeted for early 2027. Within a week, it reported more than 800 letters of support from brokerage leaders.

Why is everyone talking about private listings?

Over the past couple of years, some firms have pushed to market homes privately first, inside their own network, before (or instead of) putting them on the MLS and public sites. Supporters say it gives sellers choice and lets them test a price quietly.

The other side, which includes many MLSs and major home search sites, says hidden inventory hurts buyers and can cost sellers money. In California, our regional MLS has publicly defended its cooperation rules, and NAR updated its own policies in 2025 to give sellers more marketing options while requiring clear, signed disclosure.

Why an open market is better for sellers

1. More eyes means more competition. The buyer who will pay the most for your home may be working with any agent at any company. Open marketing puts your home in front of all of them at once.

2. Silos are a bet. If your home is visible only to one company's clients, you are betting that the best buyer happens to be there. In Palos Verdes and the South Bay, buyers come from all over Los Angeles and beyond. I'd rather not leave that to chance.

3. The research leans open, with nuance. Zillow Research reported that homes sold off the MLS in 2023 and 2024 went for about 1.5% less than comparable MLS sales. A Bright MLS study found a larger gap. An independent Dallas-Fort Worth study found mixed results. Each source has a point of view, so I don't oversell any single number, but the overall pattern favors exposure.

Why it's better for buyers

Buyers deserve to see what's actually for sale. When listings are hidden, buyers have fewer choices, and they may never know a home that fit them perfectly sold quietly. Hidden sales can also make pricing murkier for everyone, since comps and appraisals rely on good, shared data.

Do sellers still have choices?

Yes, and they should. Under NAR's Multiple Listing Options for Sellers policy, a seller can choose options like delayed public marketing or an office exclusive, but only after signing a disclosure that explains what they're giving up, such as broad, immediate exposure. Rules vary by MLS, so ask your agent exactly what applies to your home.

My view: openness should be the default, and any limit should be a seller's informed choice, never the agent's or the company's convenience.

How I market homes in Palos Verdes and the South Bay

• Every listing goes on the MLS and is syndicated widely, unless you make an informed choice otherwise.
• I cooperate with every brokerage. If an agent brings a qualified buyer, they're welcome, period.
• I compete on skill, not access: pricing strategy, preparation, photography and video, targeted marketing and strong negotiation.
• Privacy is respected. If you need discretion, we'll talk through every option and its tradeoffs in writing.

I'm with Real Brokerage, one of the founding brokerages of Open Real Estate, and everything I do is built around giving your home the widest fair stage. See current listings and resources at sellwithzoli.com.

FAQ

What is a private or pocket listing? A home marketed to a limited group, such as one company's agents or clients, instead of through the MLS and public home search sites.

What is Open Real Estate? A free national listing data-sharing initiative announced in October 2026, founded by several national brokerages including Real Brokerage's parent company, Real REMAX Group. Agents enter a listing once and it is shared with participating brokerages, MLSs and portals. It is not an MLS and is expected to launch in 2027.

Will Open Real Estate replace the MLS? No. Its founders say it is designed to work alongside local MLSs, which keep setting local rules.

Is selling off-market ever a good idea? Sometimes, for real privacy or unusual situations. Just make it an informed choice, and understand you may be trading away competition.

Do private listings sell for more? Studies disagree, but several large analyses found off-MLS homes tended to sell for less. Your home, price point and timing matter, so let's look at your situation together.

How do you market my home? Openly, through the MLS and major sites, with cooperation from every brokerage, plus professional marketing focused on getting you the strongest result.

Thinking about selling and want to talk strategy? Reach me through sellwithzoli.com.

Zoltan Zoltan Peresztegi, Realtor, SRES, PV Specialist | Real Brokerage | DRE #02248774