Where Real Estate Gets Its Dirt

Are MLS rankings by Compass a big deal?

How Strict Are the MLSs? Here’s How Compass Saw It

“As it prepared to scale up its 3-Phase Marketing Strategy, which includes two off-MLS phases, Compass set out internally to get a clear view of the rules that MLSs — big and small — had in place that might intersect with the plan.”

This story is from last week but I wanted to do some digging. I downloaded the spreadsheet the Inman story referenced. Compass ranked 171 MLSs on a 1-to-5 scale for “restrictiveness.”

Here’s what the numbers say:

ScoreMLSs%
5 (Most Restrictive)10.6%
4 (Highly Restrictive)74.1%
3 (Moderate)14484.2%
2 (Friendly)148.2%
1 (Wide Open)52.9%

Read that again. Only 8 MLSs scored a 4 or 5. That’s it. Eight.

Compass is betting they only have to fight 8 MLSs. The other 163? Either friendly or not worth worrying about.

The Score 5 club has one member:

  • Northwest MLS (NWMLS)

The same MLS that cut off Compass’s IDX feed. The same MLS Compass sued. No surprises there.

The Score 4 list:

  • CRMLS (California Regional)
  • NTREIS (North Texas)
  • Georgia MLS
  • First MLS (Atlanta)
  • SmartMLS (Connecticut)
  • Greenwich Association of REALTORS®

If my math is correct these MLS Organizations represent about 290,000 real estate agents. Which if we say there are 1.4M members of NAR, then that’s about 20%. Also, nobody pushes Greenwich in to a corner!

Meanwhile, the “Compass-Friendly” Score 2 list includes:

  • Bright MLS
  • MRED (Chicago)
  • Houston Association of REALTORS® (HAR)
  • ACTRIS (Austin)
  • San Diego MLS
  • MLSListings (Silicon Valley)
  • The MLS (Los Angeles)
  • San Francisco Association of REALTORS®

That’s a lot of major markets where Compass sees a clear runway.

The irony? MRED — currently in a standoff with Zillow over its Private Listing Network (PLN) — landed on the Compass-friendly list. Turns out you can fight one portal while enabling another.

84% of MLSs got a 3. The vast middle. Compass is probably betting these swing votes won’t put up a fight if the big dominoes fall.

So if you’re an MLS executive, you might want to know where you stand on this list. Because Compass already does.

Realtor.com Bets on Collaboration in an Industry Addicted to Conflict

Realtor.com® Unveils Realtor.com®+™: A First-of-Its-Kind Collaborative Home Search Experience 

“Realtor.com® was born from the partnership between the National Association of Realtors® and MLSs, and for three decades we’ve championed an open marketplace that delivers transparency and meaningful value to consumers and professionals,” said Damian Eales, CEO of Realtor.com®. “Realtor.com®+™ modernizes that legacy by putting more powerful tools into more agents’ hands than any product in our history, keeping professionals at the center of the transaction, and giving MLSs the valuable AI-driven capabilities and member tools they need to lead the industry forward. ”

I love this move from Realtor.com. While everyone else is fighting and suing each other, Realtor.com’s CEO, Damian Eales chose to build alliances instead. Who would’ve thought a portal, run by an Australian, might be the one to bring collaboration back to the MLS?!

That’s the thread running through this entire announcement: collaboration.

First, the partnerships. Realtor.com+ is launching with more than 15 MLS organizations, representing over 120,000 agents. That speaks to a void in the market.

Then there’s the app — enter the whiz kids from Zenlist. The team at Zenlist already built a world-class agent–client collaboration experience, and now it’s seamlessly tied into the broader Realtor.com ecosystem.

Next, the integrations. Deep connections into MLS systems, plus vendors like Realtors Property Resource, DocuSign, and Hover.

While CoStar leans into bluster, Zillow toys to play big daddy, and Compass pushes seller-centric exclusivity as a wedge, Realtor.com is betting that the open marketplace still matters — and that strengthening it beats fragmenting it.

So Realtor.com is doing the logical thing: reinforcing the network that made it relevant in the first place. The difference is how they’re doing it. We all know Damian isn’t afraid of a picking fight, but instead he’s picking partners.

In a sea of “disruptors,” collaboration might be the most disruptive move of all.

Bravo.

Martin


“Peace is not merely a distant goal that we seek, but a means by which we arrive at that goal.”

Martin Luther King jr.

RentSpree goes “all-in-one” with banking services

RentSpree Expands Landlord Platform With Interest-Earning Accounts and Automated Money Management

“This is more than a banking feature; it’s the realization of a truly integrated rental lifecycle,” said Michael Lucarelli, CEO and Co-Founder of RentSpree. “No longer do mom-and-pop landlords have to juggle complex systems. We take them from the crucial first step, finding a qualified tenant, to the final step of effortlessly managing their money, making the entire process easier and more profitable.”

Plenty of companies talk about “end-to-end” or “all-in-one” solutions. Most of the time, they fail because they don’t actually have access to the right customers.

RentSpree does.

Mom-and-pop landlords still make up the majority of the rental market, which makes this move feel genuinely smart—not just a feature grab. A dedicated bank account for rental income is exactly how many accountants want landlords to operate, largely because it keeps everything clean and defensible at tax time.

This isn’t flashy fintech. It’s practical. And for new landlords especially, I wouldn’t be surprised if this becomes one of RentSpree’s stickiest additions yet.

Where we are headed…

Glenn Kelman’s last day

Unemployed, In Greenland

“Running so fast with people so smart made me feel free when I once viewed the business world as a prison. The whole miracle of human ingenuity starts with the simple act of thinking for yourself, but that depends on finding people to whom you can say what you really think. I discovered those people while Redfin was still based out of an apartment, and that grew a thousandfold into our culture.”

Such a class act. Great writer. And one of the last ones who would tell it like it is and cut the corporate gobbledygook.


GFK I’m gonna miss you. Good luck on your new adventures.

MetroList continues expansion

MetroList Expands Regional Footprint with Madera County Association of REALTORS®
-Joining Its MLS Platform

“With the addition of MAR, MetroList now serves 15 Central and Northern California counties and supports data-sharing across 29 relevant counties, creating expanded exposure and opportunity for real estate professionals and consumers alike. This strategic move reflects MAR’s commitment to equipping its members with forward-thinking tools, innovative technology, and comprehensive service and support in an increasingly value driven real estate landscape.”

Looks like MetroList is building some momentum. The consolidation continues…

Chris Osborn and Valentina Shenderovich join Larson Skinner

Larson Skinner Adds Seasoned MLS and Brokerage Counsel as Real Estate Industry Evolves

“Chris has a long history of helping MLSs strategically evolve their forms, policies, and legal strategies” said Mitch Skinner, co-owner and managing member of Larson Skinner. “And Valentina brings the grounded, business-first perspective of someone who has built products and managed risk from inside a brokerage.”

“Together, they add even more depth to how we can support MLSs, associations, and brokerages as the industry navigates rapid change” added Camille Beshara, Larson Skinner co-owner and member.”

Congrats to Chris and Valentina and the Larson Skinner team!

Chris Lambrou named Metro MLS CEO

Metro MLS Names Chris Lambrou as Chief Executive Officer

“Chris is a proven leader with a deep understanding of the industry and Metro MLS,” said Joe Horning, Metro MLS Chairman. “Over the past eight months, he has provided stability, strengthened relationships and positioned Metro MLS for long-term success. We are excited to have him leading our organization.”

I am honored to officially lead Metro MLS as CEO,” Lambrou said. “Over the past several months, I’ve seen firsthand the talent and dedication of our team. I look forward to building on our momentum, driving innovation and ensuring Metro MLS continues to provide exceptional value to our members and the real estate community”

Big congrats to Chris. Well deserved!

Aligned Showings [Sponsor]

Thanks to Aligned Showings for supporting Vendor Alley this month.

Aligned Showings is a modern showing and scheduling platform built to serve agents, teams, and MLSs directly. It handles appointment booking, confirmations, messaging, and notifications — all in a clean, intuitive interface.

It’s not trying to reinvent the wheel. It’s just making the wheel turn faster.

You can learn more at 👉 alignedshowings.net

My thanks again to them for sponsoring Vendor Alley.

Sponsored By ICE