There are moments in this industry when the signal is so clear that ignoring it becomes a strategic decision. This is one of those moments.

Our latest whitepaper written by Victor Lund, “The Listing Wars Are Back: MLSs That Did Their Homework Are Fine. The Rest Have a Problem,” is not a theoretical exercise. It is a field report from a market that has already moved. The conflict between Zillow, Compass International Holdings, and the broader brokerage community is not about portals. It is not about technology. It is about a breakdown in trust between MLSs and the brokers they serve.

Download the whitepaper and use code “Listings” at checkout for a free copy for a limited time.

More than half of the real estate brands in America are now actively investing in pre-market listing strategies. That is not a fringe behavior. That is the market. And when the MLS does not support how the market actually operates, brokers do what rational businesses do. They route around it.

That is exactly what is happening today.

The paper makes a direct and uncomfortable point. MLSs that built Coming Soon and Delayed Marketing infrastructure years ago are stable. Their brokers are not leaving. Their data is not fragmenting. Their value proposition remains intact.

Everyone else is now playing defense.

The underlying issue is simple. The MLS is a data company. Its job is to serve brokers equally, regardless of size, brand, or strategy. When policy interferes with that obligation, when it dictates how brokers must market listings rather than supporting how they choose to, the MLS stops being neutral infrastructure. And the moment neutrality breaks, the largest and most capable participants exercise their options first.

That is the story unfolding right now.

This whitepaper does not just diagnose the problem. It lays out a path forward. It challenges MLS leadership to confront three realities:

  • Pre-market listings are not abuse. They are operational reality driven by sellers.
  • The majority of delayed listings exist for legitimate reasons like home preparation and timing.
  • If the MLS does not model this behavior, someone else will.

The most important concept introduced is what we call the “50 percent test.” If more than half of your market is operating outside your policy framework, your policy is not governing the market. It is ignoring it.

And when that happens, relevance erodes quickly.

There is still time to act. But not much.

The decisions made in the next 12 to 24 months will determine whether the MLS remains the backbone of listing data or becomes one of several distribution options competing for it.

This is not a policy discussion. It is a control point for the future of the industry.

Download the whitepaper and use code “Listings” at checkout for a free copy for a limited time.

Study the data. Challenge your assumptions. And most importantly, listen to your brokers. Because they have already voted with their behavior.

The only question left is whether the MLS will meet them where they are or watch the market move on without them.

Below is NAR’s statement on Coming Soon listings

The American housing market is the most consumer friendly, transparent, and efficient across the world, in large part because of the MLS system. The MLSs provide an efficient and reliable marketplace, which allows sellers to market their properties in accordance with their interest and potentially receive the best offer. Likewise, they provide buyers the ability to learn about as many properties on the market that meet their criteria. NAR will continue to be a pro-consumer association that champions MLS policies that advance fair housing, ensure equal opportunity to housing, and facilitate transactions that benefit home buyers and sellers. All agents who participate in MLSs agree to follow their MLSs policies regarding listing standards. Due to the unique needs and characteristics of local housing marketplaces, NAR MLS policies provide each MLS with the flexibility to establish local rules that work best for their brokers, agents, and consumers, including policies regarding pre-marketing efforts.