What Do You Tell a Seller Who Asks About a Private or Coming-Soon Listing?

What do I tell a seller who asks about a private or coming-soon listing instead of the MLS? Start with the seller’s goal, explain the options and what each one trades away, and let the seller decide. Get that decision in writing. For a Realtor in the first three years, that is the whole job: you don’t pick a side, you explain it clearly.

Disclosure: I do contract work for MLS companies, including MRED. This is education, not a recommendation, and it covers public information only.

What changed with private listings and the MLS?

In 2025, NAR kept the Clear Cooperation Policy and added a delayed marketing option to the MLS, which every NAR MLS had to offer by the end of that September. Zillow then announced its own standard for listings that are publicly marketed but not on the MLS, which is Zillow’s policy. This year, more brokerages have been looking at pre-marketing and private networks, some MLSs are partnering with brokerages and going national, and four large brokerage groups announced a shared listing-data effort called Open Real Estate. There are lawsuits in several places, and the dust hasn’t settled.

I’m not going to get into the heat of that here. What matters for you is that these rules have been changing and will keep changing, and they are different depending on where you list.

Is there one right answer on private vs MLS?

No. Some people think private is smarter. Others think the MLS is always best. People have opinions all the way around. The only right answer is the one you reach with your seller: what are you doing, what is your goal, and who is the seller’s audience?

What are the four listing options?

The exact rules vary by MLS and association, so these are general descriptions. The question that separates them is who gets to see the listing, and when.

•Full MLS. Every agent and the public sites see it. It is usually chosen to get the most eyeballs on the home. Days on market and price changes are public.

•Delayed marketing. Agents see it right away, and public sites see it after a delay. Sellers often pick it for prep time: painting, carpet, moving things out. The trade-off is fewer eyeballs at first. Your MLS sets how long the delay is and what you can do in the meantime, along with the rules for listing entry.

•Office exclusive. Your brokerage, one-to-one, filed with the MLS but not shared with other agents. It is for strict privacy needs, and it means the smallest buyer pool and no public marketing. It also has to go into the MLS within a certain amount of time, so know your rules. This one carries some of the riskier risks.

•Coming soon. Usually in the MLS, and agents usually see it. Whether the public sees it depends on your MLS. It is a pre-marketing option to build interest while the house gets ready. Watch showing time limits and days on market.

How do you decide which option fits a seller?

Ask before you explain. Are we testing price, going for maximum exposure, or is this about speed? A seller who is worried about privacy and a seller who needs top dollar fast are two different conversations. Sellers always have the ultimate say in how their listing is handled, so confirm their goal and get their choice in writing.

You can use AI to help you explain the options. Put in your MLS’s rules and ask for plain-language explanations and suggested questions. The decision stays with your client, in agreement with your brokerage, and your MLS rules decide what is allowed.

Do private listings sell for more?

The studies disagree, and I’m reporting their own claims here. Compass reported that homes pre-marketed before listing sold for 4.6% more. Zillow, analyzing more than 15 million transactions, reported that homes sold off the MLS sold for 1.3% less. A University of Georgia study found a 1.7% premium, with a lot of caveats. There isn’t enough data to say which one is the better strategy, so for us it is an unknown. Tell your seller what is known, what isn’t, and let them decide.

What’s the leadership lesson?

When change happens, clients look for the calmest, clearest person in the room. In times of change, be able to explain what is happening in a calm, objective way so they can make the best decision for them. Follow your local rules and your office’s, and put your client first. Keep up with sources like HousingWire and Inman News, and talk to your local association leadership and your office leadership.

What should you do this week?

Look at what is going on. You don’t need an opinion. Opinions are easy to have. Aim for clear thought and the ability to explain what is happening in your market and how you can help your clients through it.

Do you think a private listing will get a seller more, or less? Tell me in the comments on the video.

FAQ

What is the difference between delayed marketing and an office exclusive? With delayed marketing, every agent in the MLS sees the listing right away and public sites see it after a delay. With an office exclusive, the listing is filed with the MLS but only your own office sees it, with no public marketing.

What is a coming soon listing? Usually a pre-marketing stage in the MLS, used to build interest while the house gets ready. Whether the public sees it, and how showings and days on market are handled, depends on your MLS.

Do private listings sell for more money? The major studies disagree, and each is its publisher’s own claim. Compass reported 4.6% more, Zillow reported 1.3% less, and a University of Georgia study found a 1.7% premium with caveats.

Who decides how a home is marketed? The seller, within your MLS and association rules and your brokerage’s policy. Get the decision in writing.

Free AI Starter Pack, with the prompts I use: https://go.thejblteam.com/starter-pack

Watch the full video: (YouTube link once live) Listen to the podcast: eProfessor of Real Estate, Episode 58 (link once live)

Sources NAR, Multiple Listing Options for Sellers and Clear Cooperation Policy (Mar 25, 2025): https://www.nar.realtor/news/real-estate-news/nar-introduces-new-flexibility-for-sellers-while-retaining-clear-cooperation-policy Zillow’s, Compass’s, and the University of Georgia’s study figures, as summarized in RISMedia, How dueling data studies are shaping the private listings fight (Aug 13, 2026): https://www.rismedia.com/2026/08/13/how-dueling-real-estate-data-studies-shaping-private-listings-fight/. Study figures are the publishers’ own claims. Open Real Estate, as reported in HousingWire, Everything we know so far about Open Real Estate: https://www.housingwire.com/articles/open-real-estate-initiative/

Justin Letheby, The JBL Team