Where Real Estate Gets Its Dirt

What if the MLS Becomes Optional?

Overview

In this episode, Rob and Greg dive into the implications of a future where exclusive listings become the industry norm. They explore how this shift could reshape brokerages, MLS operations, agent recruitment, consumer transparency, and portal business models. With a slow news week in real estate, the discussion becomes a deep speculative analysis of what happens if the market fully embraces private listing networks, how big brokers consolidate power, and whether the MLS becomes a “nice to have” rather than a necessity. They also touch on political factors, Zillow vs. Homes.com strategy, and how agents might adapt in a less transparent ecosystem.

Key Takeaways

  • Exclusive listings could dramatically shift power to large brokerages, enabling stronger recruitment flywheels and disadvantaging boutique firms.
  • Big brokers may form alliances to consolidate private listing access, leaving smaller shops struggling to compete.
  • MLSs risk becoming secondary tools—useful but no longer essential—if private networks supply the bulk of market inventory.
  • Consumer transparency may decline if days-on-market and price-change history disappear, increasing agent value as data interpreters.
  • Portal strategies (Zillow, Homes.com) may need to adapt, especially if sellers aren’t willing to pay for exposure under an exclusive model.
  • The industry still misunderstands exclusive listings, which are less about double-ending and more about recruiting, retention, and leverage.
  • Market cycles and seller psychology remain central, as many sellers still prefer full exposure while others choose convenience and certainty.
  • Political housing policy may shift unexpectedly, though current geopolitical chaos makes predictions uncertain.

Connect with Rob and Greg

Rob’s Website 

Greg’s Website 

Watch us on YouTube

Our Sponsors:

Cotality 

Notorious VIP

The Giant Steps Job Board 

Production and Editing Services by Sunbound Studios

GEM Soirée at Greg & Dan’s studio in Orange County, January 12th

Drew Meyers reached out and asked if we were willing to host another GEM Soirée at our studio in Orange County. We happily obliged. See below for details.

“The GEM Soirée series continues in Orange County, this edition co-hosted with Coleton BoyerGreg Robertson and Dan Woolley. An evening to mingle and celebrate the industry’s progress with real estate tech founders, execs, VCs & angels, and practitioners. Hang with the cool kids of proptech and organized real estate at Greg Robertson’s and Dan Woolley’s studio (aka mancave) in Costa Mesa, CA. A proper mingling of the sharpest mind in real estate tech with great foodcocktails, and a soundtrack that doesn’t suck. Alcohol and o’dourves will be provided.”

Hope to see you there! Great way to find out more about GEM and meet others in the proptech space.

Please follow this link to register for the event = > GEM Soirée in Orange County

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.

Forecast 2026: Mortgage Rates, MLS Wars, and Industry Consolidations

The Industry Relations Podcast is now available on your favorite podcast player!

Overview

Rob Hahn and Greg Robertson close out the year with their annual predictions episode. They debate where housing transactions, interest rates, and home prices are headed, then turn to broader market forecasts. The conversation shifts to industry-specific predictions around lawsuits, private listings, MLS policy, portal strategy, and where consolidation may reshape brokerages and real estate technology next.

Key Takeaways

  • Existing home sales, interest rates, and median home price predictions — with very different rationales.
  • Why mortgage rates may be driven more by the bond market than the Fed.
  • Bold calls on NASDAQ, gold, and Bitcoin.
  • Compass vs. Zillow and the future of private listings.
  • A potential overturning of the NAR settlement and what that would mean for the industry.
  • Why forms litigation could be the next major legal battleground.
  • What portals like Zillow, Realtor.com, and Homes.com may need to change.
  • Predictions around major brokerage, franchise, and proptech consolidation.
  • MLSs redefining participants, IDX access, and control of listing data.

Connect with Rob and Greg

Rob’s Website 

Greg’s Website 

Watch us on YouTube

Our Sponsors:

Cotality 

Notorious VIP

The Giant Steps Job Board 

Production and Editing Services by Sunbound Studios

Merry Christmas!

VestaPlus [Sponsor]

My thanks to VestaPlus™ for sponsoring Vendor Alley this month. 

Check out ShowingPlus. Schedule and manage property showings with ease. Master your agent-to-agent communications so showings become closings! Check out the video below to find out more:

My thanks again to VestaPlus for sponsoring this month of Vendor Alley.

Zillow Home Loans Cost Consumers More?

Zillow Home Loans pay more, study suggests

“The 40-page report, titled “Empirical Analysis of Zillow Home Loans Pricing,” was published Dec. 21 by Georgetown University Professor of Economics and Law Emeritus Steven C. Salop. It received funding from CoStar, the parent company of Zillow home search rival Homes.com.

The study, which a Zillow spokesperson said draws “inaccurate and misleading conclusions,” pointed to two class-action lawsuits filed this fall — Taylor v. Zillow and Armstrong v. Zillow — which accuse Zillow of boosting ZHL through illegal kickbacks.”

CoStar hired a consultancy firm to investigate Zillow Home Loans. The consultancy firm hired a professor. The professor publishes a study saying consumers may end up paying more for a Zillow Home Loans over time. The consultancy firm that hired the professor come out saying it disagrees with the professor.

If you’re confused, so am I.

2025 in the Rearview: Who Got It Right?

The Industry Relations Podcast is now available on your favorite podcast player!

Overview

Rob Hahn and Greg Robertson close out the year by revisiting their 2025 predictions and grading how they actually turned out. From transaction volume and mortgage rates to MLS power shifts, NAR’s role, Zillow’s influence, and major industry moments, the episode becomes a candid year-in-review on what really changed—and what didn’t—in real estate.

Key Takeaways

Greg outperformed Rob on most economic predictions, including transaction volume, mortgage rates, and median home prices. 

The stock market’s strong performance validated Rob’s bullish call. 

MLSs and NAR dominated debate: MLS autonomy increased, while NAR’s influence continued to erode. 

Realtor.com’s acquisition activity missed Greg’s specific predictions, while Rob’s calls on Phoenix-style breakaways and MLS mergers did not materialize.

Zillow’s growing power, ongoing lawsuits, and IDX tensions were identified as major forces shaping the future.

Housing affordability emerged as a defining political issue, highlighted by discussions around commissions, younger voter sentiment, and proposals like 50-year mortgages. 

Both hosts frame 2025 as a “transition year,” where the consequences of earlier lawsuits and policy shifts fully surfaced.

Next week, 2026 Predictions!

Links:
Bingo Board
Vendor Alley 

Connect with Rob and Greg

Rob’s Website 

Greg’s Website 

Watch us on YouTube

Our Sponsors:

Cotality 

Notorious VIP

The Giant Steps Job Board 

Production and Editing Services by Sunbound Studios

Vendor Alley Funnies

Sponsored By Aligned Showings