Why brokerages are betting on private listings
#77
WELCOME
As if agents don’t already have too many to-do’s and too little time, this Sunday we’re down an hour.
Time may not be on our side, but spring market conditions might be. Keep reading for the latest trends and data we’re tracking—and how you can make the most of both.
When Steve Shull first started his real estate career in the early nineties, he knew next to nothing about the industry. But he knew how to set habits, work hard, and make connections. In his first year in the business, he door-knocked his way to over 100 transactions. Now, over three decades later, he’s built a massive agent coaching network—and essentially wrote the real estate playbook successful agents follow to this day. Catch Steve’s full story, including the habits he still swears by and the repeat-and-referral model he coaches every agent to follow, in this week’s can’t-miss episode of Glennda’s Guru.
TRACK THE MARKET: A Billion-Dollar Bet on Private Listings

In the wake of the NAR’s major settlement and policy changes, private listings are becoming an increasingly popular strategy in residential real estate, with several major brokerages expanding off-market sales. Keller Williams’ largest franchise network, KW GO, has leaned into the trend in a big way—racking up $1 billion in private sales last year and aiming to double that by 2026. Their Private Collection launched in early 2024 and now includes 3,000 off-market listings across Texas, New Mexico, and Tennessee.
But not everyone sees the shift as a win for consumers.
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KW GO, like other firms embracing private sales, says sellers want more options and the ability to test the market before going public.
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Critics argue that keeping listings off the MLS reduces exposure and could leave sellers with lower offers than they might get in an open-market bidding war.
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Some also warn that an increase in private sales could lead to reduced transparency and legal concerns over disclosure.
With top brokerages investing heavily in private listings, the industry is watching closely. As the debate over NAR’s Clear Cooperation Policy continues, private sales could become a defining factor in how deals get done in the months and years ahead.
DIVE IN
The Friday Five
📖 From the cover of AD. Read Paige’s interview with celebrity interiors designer Gregory Rockwell.
👀 Tour in Tribeca. See inside M. Night Shyamalan’s just-listed modern NYC penthouse.
👀 Adult amusement park. With a go-cart track, shooting range, golf simulator, ball pit, and more, this Arizona house pulls out all the stops.
💡 Keller cashes in. Will Keller Williams finally go public?
💡 All-time low. The real reason some sellers aren’t motivated.
🔥 Two Power-Packed Live Q&As Next Week! 🔥
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WHAT’S NEW FROM ESTATE MEDIA
State Farm is just the latest insurance company calling for a rate increase in California to help cover its skyrocketing claims costs in the LA area. But that isn’t the only threat to affordability in what is already one of the nation’s most expensive metros.
As Ben Belack—Beverly Hills’ Super Realtor and cast member of Buying Beverly Hills—explains in the latest episode of The Breakdown, the California wildfires will have a massive impact on the local housing market, buying conditions, building regulations, and more over the coming months.
Tap to hear Ben’s take on the shake-up—and how that’s likely to impact buyers, sellers, and their agents.
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TIPS & TAKEAWAYS
Quote of the Day
Success in real estate doesn’t happen overnight. It comes from persistence and daily action. Take it from Glennda herself:
“The fact that you aren’t where you want to be should be motivation enough.”
HANGS & HAPPENINGS
RETCon | Las Vegas, NV | March 10-12. RETCon is a must-attend event for real estate technology and innovation professionals. The conference focuses on PropTech and RealTech solutions, trends, automation tools, AI advances, and more, and gives agents and industry pros a place to learn, network, and stay competitive.
REALTOR Broker Summit | Louisville, KY | April 8-9. Get leadership and marketing insights tailored to brokers, real estate leaders, and teams ready to refine their strategies and jump ahead of the competition. Register for two days packed with workshops, presentations, meet-and-greets, and more.
Inman Connect | San Diego, CA | July 30 – August 1. Sharpen your real estate game with immersive discussions, interactive workshops, top-tier networking, and more, alongside some of the biggest players in real estate, proptech, and lending.
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