I guess if we’re doing billboards it’s not much of a secret any more.
Selling Compass listings off-market to buyers of other Compass agents is legal and within the rules of the Clear Cooperation Policy. The CCP doesn’t allow public advertising of individual homes, but advertising the PE program is fine.
It is inevitable that residential real estate will go the way that the commercial brokers do it – selling properties without any organized effort to cooperate between agents.
The Compass Private Exclusives is merely the next step in the evolution.
Our current program isn’t that effective yet – I don’t think many homes are being sold off-market within the Compass network, but it’s coming. I think the more-public advertising of it is because we’re trying to bust up the CCP, and when it doesn’t happen then Compass will have a great reason the leave NAR/MLS and go it alone. The PE program will already be well-known by then, and it will be what we use to attract more clients, especially sellers.
The Big Change is underway!
I don’t think it is a concerted effort, but it will look like it in the end:
- Reduce the realtor population by any means possible.
- Don’t go out of the way to share listings with other agents.
- Market heavily to sellers and buyers directly.
- Everything goes in-house; realtor commissions, loans, escrow, title, etc.
It allows for the brokerages to make a good living too.
