Is Zillow in Trouble?

The National Association of Realtors (NAR) rollout of a new policy—allowing for “delayed marketing exempt listings”—has introduced uncertainty for online real estate platforms such as Zillow and realtor.com. This new option lets sellers decide if they want to withhold listings from internet syndication, meaning websites beyond the listing broker’s website, which would include the IDX feeds that portals like Zillow and Realtor.com depend on for content. As a result, the availability of listings on these popular sites could shrink, depending on how widely the delayed marketing path is used.

The potential impact on popular listing websites hinges on how many sellers end up choosing this delayed marketing option. If adoption is high, it could significantly reduce the number of properties accessible through IDX-fed sites, including Zillow. However, industry experts note that Zillow and similar platforms aren’t without alternatives. By leveraging Virtual Office Website (VOW) feeds—an older, more private method of sharing listings that requires user logins—these companies can still display withheld listings, assuming they maintain their brokerage licenses. While this transition could make browsing slightly less seamless for users (read “annoying”), analysts believe it’s a viable workaround.

At the same time, the evolving listing landscape has opened the door for new competitive strategies. Some brokerages, like Compass, which has been critical of the NAR’s Clear Cooperation policy, are exploring exclusive arrangements to showcase their listings on select portals – or even build proprietary consumer platforms.

Homes.com, with its agent-first model, is viewed as a potential beneficiary if brokerages begin favoring exclusive partnerships over broad syndication. Still, few believe that any challenger can easily dethrone Zillow’s dominance in the space, especially given its massive traffic and name recognition. (But we can only hope.)

Ultimately, how this all plays out will depend largely on consumer behavior over the next months and into 2026. While agents may promote the delayed marketing option, it’s the seller who must sign off. They will be required to sign an addendum stating they do not want their listing broadcast to external websites.

Why would a seller want to implement delayed marketing of their home?

Here are some reasons:

1. Greater Control Over Timing

Sellers can strategically plan when their listing goes live to the public, giving them time to prepare the home, complete repairs, or coordinate with professional stagers and photographers. This flexibility ensures that the home hits the market in its best possible condition, which can lead to a stronger first impression and potentially higher offers.

2. Creates Buzz and Exclusivity

Delayed marketing can help generate interest and a sense of urgency among buyers. By initially limiting exposure, agents may build a list of interested parties in advance, creating a scenario where the home appears highly desirable once it officially hits the market. This can sometimes lead to faster sales or multiple offers.

3. Privacy and Reduced Foot Traffic

Some sellers, especially high-profile individuals or those with unique life circumstances, prefer a quieter marketing approach. Delayed marketing allows them to keep their home off public platforms initially, which can reduce foot traffic and disruptions from casual lookers, focusing instead on serious, pre-qualified buyers.

4. Opportunity for Targeted Marketing

During the delayed period, agents can market the property privately to their network of buyers, agents, and brokerage contacts. This more curated approach can result in well-matched buyer-seller connections and potentially smoother transactions. If a listing agent secures a buyer who is unrepresented by another REALTOR, this could potentially save the seller thousands of dollars.

5. Market Testing Without Pressure

Sellers can gather informal feedback from brokers and buyers during the quiet marketing phase. If the response isn’t as strong as expected, they have the chance to adjust pricing or presentation without the stigma of a “stale” listing that’s been sitting publicly too long. Or even take it off market.

Widespread Impact

Analysts caution that geographic trends will emerge, especially in regions with strong CCP opposition. In these areas, listing portals may find their inventory lacking compared to what’s actually available. Still, the consensus among market watchers is that while adjustments are coming, the portals remain central players in real estate discovery.

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