Collins: Listing a property today? You have options

In a challenging housing market like the one we are experiencing, some real estate brokers are offering sellers a new proposition: test the market quietly, with limited exposure.

At first glance, that approach can sound strategic, especially for homeowners who value privacy or want to avoid the pressure of public price reductions. However, this strategy comes with substantial trade-offs. Before choosing a private or off-market path over listing on the Multiple Listing Service (MLS), sellers should understand what they gain and what they potentially give up.

Several major brokerages have introduced proprietary platforms to facilitate these “pre-market” or “exclusive” listings.

Compass, for example, promotes its “Private Exclusive” as a better way to serve its clients. According to its website, a private exclusive gives sellers a head start on marketing their home and building exposure. They feel their listing platform will allow sellers to test prices without risking days-on-market or price-drop history. They also say this strategy is a more discrete approach and maintains a higher level of privacy. Keller Williams has created a “Keller Exclusive Portal” that creates an internal listing, allowing agents to showcase properties to other agents and buyers before or instead of listing them on the MLS.

These are just two examples of an emerging trend. These systems can create a sense of controlled exposure and may appeal in certain circumstances, such as high-profile sellers or unique properties.

However, these benefits should be weighed against the fundamental advantages of the MLS.

The Multiple Listing Service in the U.S. is widely regarded as one of the most robust and transparent real estate marketplaces in the world. It operates on standardized rules designed to ensure fairness, accuracy and equal access to information. By listing on the MLS, a property is exposed to the broadest possible pool of buyers and agents, significantly increasing competition and, in many cases, final sale price.

Sales data has consistently shown homes listed on the MLS tend to achieve higher returns compared to off-market or “pocket listings.” The reasoning is pretty straightforward. Broader exposure drives more demand, and more demand can translate into stronger offers. Limiting visibility may reduce the likelihood of multiple offers or competitive bidding scenarios, which are often key drivers of achieving a top selling price.

“Choice” for the marketplace is a good thing, but it’s important to do your research and see which listing approach works better for your specific situation. Choice allows sellers to tailor strategies to their unique circumstances. The critical step is to do your due diligence, understanding how each approach aligns with your goals, timeline and risk tolerance. A private listing may offer convenience and discretion, but it may also narrow your buyer pool at a pivotal moment.

“Quality and accuracy of the data in the MLS, along with greater exposure, equate to a tremendous value for sellers and buyers,” Michael Gordon, 2026 president of the Santa Clara County Association of Realtors, said.

The MLS continues to evolve to meet consumer expectations, incorporating new technologies and marketing tools while preserving its core function: creating a transparent, competitive marketplace that benefits both sellers and buyers.