What does this partnership mean? Coldwell Banker agent Cara Ameer examines Compass’ latest moves against “organized real estate” for answers.
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Last week, Compass announced a three-year partnership with Redfin and Rocket to display “coming soon” and private exclusive listings. The listings will appear on Redfin’s website to some 60 million users. I knew something like this had to be coming.
Although I had no advance knowledge of the partnership, I did think, because of the Anywhere merger, that Compass would team up with a lending powerhouse like Rocket in some way to flex its muscle and disrupt the industry even further, given the battle with Zillow and Robert Reffkin’s position on freeing agents from the constraint of the MLS “mob.”
Welcome to another seismic shift. What does this partnership mean? As a Coldwell Banker agent, I see many pros, but also several unanswered questions.
1. Innovation + massive exposure
There is no doubt that this was not just a bold move, but an innovative one. Compass was already an industry disruptor, so it decided to disrupt further for a win-win. They wanted a broader platform to showcase coming-soon and private listings without penalties or restrictive rules. Rocket needed more content (listings) to drive business to the Redfin website.
According to the Rocket press release, they expect nearly 2 billion visits to the Redfin website and Redfin app this year. That’s a lot of eyeballs. In addition, Rocket is sweetening the deal to offer either a one percentage point interest rate reduction for the first year of the loan or a lender credit of up to $6,000, reducing upfront costs or first year payments.
As a Coldwell Banker agent under the Compass International Holdings (CIH) umbrella, being able to take advantage of this is no-brainer. It provides freedom and flexibility to offer sellers options and no longer be restricted to MLS rules and regulations that aren’t a fit for every seller’s situation.
People’s lives are complicated with extenuating circumstances. For example, I’m encountering many senior citizens who are “aging out” of their homes and can no longer live there due to costs, maintenance, upkeep and their health.
There are a variety of reasons that often make it difficult for them to go through the typical “prep for sale” and public listing process that our industry requires. A private listing gave them dignity, time and control. In addition, the ability to offer clients access to a large national lender that is willing to provide some discounts to help make a purchase more affordable is quite attractive.
2. Move over Zillow
There’s no denying this move was in response to the friction Compass is having with Zillow. While Compass wasn’t going to reinvent the wheel trying to build a portal, plugging into Redfin that already has the buyer traffic and can offer something Zillow refused to allow — coming soon and private listings puts Zillow in a precarious situation. The ability for CIH agents to capture leads on their listings in a highly fractured and competitive marketplace is huge.
We’ve been sold out as an industry by losing lead opportunities on our own listings, yet MLS’s have been paid big bucks to syndicate their data across thousands of portals. Those portals sold our own leads from under us and caused confusion among the public as to who they were dealing with. It also contributed to the perception of us as “door openers.”
3. Flexibilty = more opportunity
Today’s buyers are more selective than ever. After the pandemic frenzy, they are not willing to compromise. Many are searching for that needle in a haystack. What if that needle could be introduced to the market in a lower-pressure environment?
Moving is much more difficult than it was before 2020. The economics of it make people unsure where to go. Many feel like they are giving up more than they are getting, so they are reluctant to sell, but they want to. This gives sellers a way to make that happen.
While all this sounds wonderful, there are some considerations to think about.
4. Flashing yellow lights – proceed with caution
Will MLS’s, Zillow and other portals penalize CIH listings that appear on the Redfin portal? Will they devise a punitive system that won’t allow CIH agents to do this should a seller eventually decide to transition to the MLS (such as after coming soon)? What protections will there be, if any?
Because this partnership involves Rocket Mortgage (which owns Redfin), will this be viewed as pressure to direct consumers to them as the lender of choice?
Given the current class action litigation regarding consumers who were Zillow leads that were directed to use Zillow Home Loans, what steps will be taken to ensure this partnership does not follow a similar path? Right now, the optics of influencing consumers to use a particular lender do not have a good look for the industry or the public.
Will the rates and fees offered by Rocket truly be competitive, or will they be jacked up with a perceived “discount,” but when the consumer shops around, they find better elsewhere? The lending industry is already full of confusion for the consumer who really doesn’t understand all the complications of pricing a loan, nor do they care. They want the best rate without the red tape.
5. Transparency
With the ongoing battle between buyer representation, agent compensation, referral fees and preferred or affiliated lenders, how will the public and the industry perceive this partnership?
While no days on market or pricing history shown sounds attractive, will buyers and other agents be suspicious? What about having to go to yet another website to search for listings in an already oversaturated marketplace? Will anyone wishing to access these listings be required to register on the website?
After all, the goal is to drive leads, not be a public information service. Will consumers embrace it? Will legal action be taken to dissolve it?
6. Preferred lenders
The brokerages within Anywhere have existing preferred lending relationships, such as Guaranteed Rate, that participate and subsidize various events and activities. Will this partnership pave the way for Rocket to replace those existing lending partners?
They won’t be able to compete in capturing potential buyers from this portal, so what’s in it for them to continue to stay on? What does this mean for preferred lending relationships across Anywhere brands that are franchises?
7. Copycat moves
Bold moves are often the catalyst for other bold moves. The question is, who is next? Backdoor discussions are likely happening on some level because those in the position to do something are not going to sit idly by and not have a competing platform. How MLS and large portals react remains to be seen, but you can bet there will be more to come on this.
Right now, more questions than answers. And you don’t really know how it’s going to go until it does. But nothing’s perfect, and you have to start somewhere. It’s all one grand experiment, and it takes a bold leader willing to push the boundaries of what could be.
The days of complicit compliance for the sake thereof may be coming to an end. There will be some friction and pushback as expected. Nevertheless, I applaud Robert Reffkin for having the vision and fortitude to take this step toward liberating agents and sellers.
It’s 2025, not 1995. The real estate industry is typically the last one to innovate and has often been its own worst enemy.
We have self-sabotaged on so many levels and are trying to take all back to gain respect with the consumer for what we do and how we do it.
The way a consumer wants to interact with real estate is continually changing. Trying to force a round peg into a square hole for the sake thereof is no longer acceptable. Real leadership involves taking risks when it makes sense. I’m excited to see where this partnership takes us.
Cara Ameer is a bi-coastal agent licensed in California and Florida with Coldwell Banker. You can follow her on Facebook or on X, formerly known as Twitter.
Topics: Anywhere | Compass | MLS | Redfin Show Comments Hide Comments Sign up for Inman’s Morning Headlines What you need to know to start your day with all the latest industry developments Sign me up By submitting your email address, you agree to receive marketing emails from Inman. Success! Thank you for subscribing to Morning Headlines. Read Next
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