Nicole Friedman

And at the end of the day, you know, it is the consumers who are going to decide, right?

It is ultimately up to every single seller when they're selling their home

How do they want to do it?

Do they want to take on this Compass three-phase marketing strategy?

Do they want to start selling privately and then go on to the open market?

Yeah.

Or do they want to go straight to the open market?

It's going to be up to every seller to decide.

And then it's going to be up to buyers, too.

You know, how much are buyers going to start going to Compass.com, right?

And even start working with Compass agents because they say, oh, I want access to these listings.

You know, I need to be in the know.

I think one thing this story says to me is that big companies are getting more power in the real estate industry.

And we're seeing that scale matters, that the more…

listings a brokerage has, the more power it has right now.

And that brokerages are starting to use that power to try to keep their listings in-house and to try to build that advantage.

And so that means that probably we're going to see more consolidation.

And so that means that consumers might have fewer options for brokerages that they can work with.

And that these brokerages might have more ability to kind of control the process for consumers.