Four major brokerages launch shared listing database to counter private offers

The residential real estate market has long relied on local databases to connect buyers with homes, but that system is fragmenting as private listings gain traction. Four of the largest brokerages in the United States announced a new national platform designed to pool listing data and offer it to competitors.

AGNT, which owns eXp Realty and NextHome, joined with HomeServices of America, Keller Williams, and Real REMAX Group to create Open Real Estate. The platform functions as an application programming interface that shares inventory among participating brokerages. To join, firms must submit new listings to the database within one business day. Initial participants also include Brown Harris Stevens, Lamacchia Realty, Samson Properties, and Windermere.

The founders stated the system aims to provide a complete and accurate data set for consumers. Leo Pareja, CEO of AGNT, said the goal is to counter walled gardens and fragmented markets. He described the platform as a way to ensure buyers and sellers have reliable information regardless of which local service they use. The four founding firms are covering the initial infrastructure costs, and joining is free for other brokerages.

Jonathan Miller, a housing market analyst at StreetMatrix, described the move as a direct response to Compass. He noted that the large brokerage often keeps listings private to limit competitor access. This strategy has led to legal friction. Compass is currently facing more than half a dozen lawsuits from state and local Multiple Listing Services regarding antitrust claims and listing rules.

Robert Reffkin, CEO of Compass, posted a message on X congratulating the group. He stated that a national listing service returns power to homeowners and their agents. Reffkin said Compass looks forward to helping build the next chapter of listing services. When asked for further comment, he declined to elaborate. Pareja responded by inviting Reffkin to participate in the new database.

The new platform does not eliminate private sales entirely. A feature called participant view allows certain properties to be visible only to agents from participating brokerages. In this mode, neither the listing agent nor the brokerage can market the home publicly. Pareja said this option will be used sparingly, primarily for high-profile sellers needing privacy.

Legal pressure on Compass intensified around the same time. New York's OneKey MLS joined a federal lawsuit filed by the California Regional Multiple Listing Service against the brokerage. The groups are asking the court to confirm that rules protecting shared listing marketing are lawful. OneKey CEO Richard Haggerty said the case addresses how homes are shared and how buyers access information. Separately, six regional MLSs filed a joint lawsuit against Compass in October. Pareja clarified that the new database is intended to work alongside existing MLSs, not replace them.