Zillow is shaking up the real estate world with a new policy aimed at cracking down on “off-market” or “private exclusive” listings. The platform now bans any home from being listed if it was privately marketed for more than 24 hours before appearing on a Multiple Listing Service (MLS). The goal? To promote transparency and ensure that buyers everywhere have equal access to homes for sale.
But not all homes—and certainly not all sellers—fit into a one-size-fits-all policy.
For most typical sellers, maximum exposure is key. Public MLS listings mean more eyeballs, more competition, and ideally, higher offers. The broader the reach, the better the odds of getting top dollar quickly.
However, in the luxury market, the opposite is often true. Owners of high-end homes frequently value privacy over publicity. Whether it’s a celebrity, executive, or ultra-high-net-worth individual, discretion is a top priority—and the “private exclusive” model delivers just that. In fact, many luxury buyers are drawn to homes precisely because they aren’twidely advertised. The sense of exclusivity can enhance the appeal, making the home feel like a rare, insider opportunity rather than a mass-market commodity.
Companies like Compass have leaned into this strategy, growing their inventory of private listings significantly in the past year. Zillow’s crackdown challenges that approach, arguing that keeping listings private disadvantages buyers. But for certain luxury sellers and buyers, privacy isn’t a bug—it’s a feature.
In the end, Zillow’s move may be a step toward fairness in the broader housing market—but it also raises important questions about whether there should be a different rulebook for the luxury space.
