Realtracs, Tennessee’s largest Multiple Listing Service for real estate, revealed plans to expand nationally by partnering with the real estate giant Compass, using a model the company developed in the Chicago area. The program allows homes to be listed as “private exclusives,” first made available to a network of Compass-affiliated real estate agents before hitting the open market.
Proponents say the partnership between Compass and the largest MLS in Chicago, Midwest Real Estate Data LLC (MRED), gives sellers more control over the process, offers them more privacy, and can result in better sale prices, but critics include the real estate and rental listing platform, Zillow, who on May 12 filed a federal antitrust lawsuit, claiming MRED threatened to cut off its access to home listings in response to concerns about the private listings.
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