Who benefits when listings go private, and who pays for less exposure?

As covered by HousingWire, Oct 14, 2026.

HousingWire published an opinion essay by Erinn Nobel, Co-Founder and President of ENRG Realty, examining the implications of private listing networks for buyers, sellers, and fair housing. Drawing on her experience in residential real estate since 1999, Nobel argues that restricting listing exposure to private brokerage networks disadvantages buyers who lack access and distorts market data. She cites a Zillow survey indicating that Hispanic and Black sellers were recommended private listing networks at substantially higher rates than white sellers, raising fair housing concerns. Nobel contends that competitive advantage should not derive from controlling access to housing inventory, and calls on the profession to examine these disparities before private listing strategies scale further.