When searching for a home online, are buyers seeing every property for sale? Previously, the assumed answer was yes, but now that expectation is being tested. On October 15, 2026, The Wall Street Journal published an in-depth look at this, and the industry dispute over private listings that has followed.
Among the voices the Journal included was Nancy Almodovar of Nan & Company Properties, who offered a Houston perspective on the national debate. Her view centers on the buyer. Nancy says that keeping a listing off the public MLS for weeks or months shortchanges buyers by limiting what they can learn about a home. In her words: "They want to know, 'how long has this home been on the market?' They deserve to ask those questions and get answers. What are you trying to hide?"
What The Wall Street Journal Reported About Private Listings
The story follows Compass and their listing process. Sellers can choose to launch a property as a "private exclusive" through the company's internal network before it reaches the multiple listing service (MLS) or public portals, such as Zillow. The Journal reports that Compass has also encouraged agents to move listings off some portals, offering a $1,000 credit to New York agents who pulled listings from accessible channels.
The practice has drawn wider attention. Compass is reportedly in litigation with Zillow and the California Regional MLS. In an August essay in Time, NAACP President Derrick Johnson compared private-listing networks to "digital redlining."
Nancy Almodovar on Buyers and the Right to Information
Nancy's comments focus on a practical question every buyer asks: how long has this home been on the market? Days on the market shapes how a buyer reads a price, how they approach an offer and what they expect in negotiation. When a home has been shopped privately, the public record may tell only part of that story and leave out key information.
Her point is not that sellers should be denied choices. It is that buyers making one of the largest financial decisions of their lives deserve straightforward answers about the property in front of them.
That principle resonates in Houston, where buyers often compare homes across many neighborhoods and price points before deciding. Complete, consistent listing information helps them make those comparisons.
What Private Listings Mean for Houston Buyers and Sellers
Whatever the outcome of the national debate, a few practical questions can help Houston buyers and sellers navigate it with confidence.
If you are buying, ask your agent whether a home was marketed privately or as coming soon before it appeared on the MLS, and for how long. Ask whether there are comparable properties in the area that may not appear on public search sites. A knowledgeable agent should be able to answer both clearly.
If you are selling, ask how each marketing approach affects who can see your home and how its price will be tested. A private launch may offer discretion, but broad exposure invites more buyers. Ask your agent to explain the trade-offs in plain terms, including any MLS rules that apply, so the decision is truly yours.
In either case, the questions Nancy raised are a good starting point: How long has this home been on the market, and what information is available about it?
Buyers deserve answers, and the market works best when the people in it can ask good questions and receive honest responses.
Explore the Houston Market With Clarity
Whether you are buying your first home in Houston, selling a residence in The Woodlands or considering a property on Galveston Island, the right questions lead to better decisions. Connect with a Nan & Company Properties real estate professional, or explore homes for sale at nanproperties.com.
Frequently Asked Questions About Private Listings
What is a private exclusive listing? A private exclusive is a home marketed only within Compass's network of agents and affiliated companies. Buyers or agents at other firms must contact the brokerage for details.
What did Nancy Almodovar tell The Wall Street Journal? Nancy told the Journal that keeping a listing off the public MLS for weeks or months shortchanges buyers by limiting information about the home, including how long it has been on the market.
Can a seller keep a home off the MLS? MLS rules allow certain exceptions for sellers with privacy concerns. Rules vary by MLS, so sellers should ask their agent which options apply to their home.
What should a buyer ask about a home that was marketed privately? Ask how long it was marketed in any form, whether it was offered privately or as coming soon, and whether its price has changed. These details help you judge value and plan an offer.
