The Shake-Up on the Horizon
Picture this: instead of shopping the entire housing market in Anchorage or Wasilla, you only get access to a fraction of it - because a handful of massive brokerages decided to keep their toys (listings) to themselves. That’s the future Stephen Brobeck, senior fellow with the Consumer Policy Center, says could be barreling toward us.
That's because a cocktail of private listings and brokerage consolidation could tilt the balance of power away from small, independent real estate teams and into the hands of a few national players. Sort of like Walmart, Target, & Best Buy, except for real estate brokerages.
Why Small Brokerages Should Be Nervous
Brobeck doesn’t sugarcoat it: if the industry shifts heavily toward private, brokerage-only listings, small independent firms could be toast.
“I mean, who’s going to a Realtor who only has access to a third of the market?” Brobeck told Real Estate News. And he’s not wrong. Imagine trying to buy a home in Eagle River, but over half the inventory is hidden away behind brokerage-specific platforms you can’t even see. That’s a game that's rigged against the small brokerages all day long.
The Domino Effect: A World War I Scenario
Compass has been the loudest voice pushing “private exclusives,” but other big brokerages are circling the wagon too. Other large, national brokerages have said they’ll “do what’s best” if the tide turns. That means if one giant makes the jump, others will follow.
Brobeck likens it to World War I: once one power lines up, everyone else jumps in, and suddenly six big brokerages control most of the listings. For Anchorage homebuyers looking at new construction or Girdwood ski homes, that could mean fewer choices, less transparency, and higher pressure.
Where’s NAR in All This?
Once upon a time, the National Association of Realtors (NAR) acted like the referee - keeping the marketplace open and transparent through the MLS. But their influence has faded since the class-action lawsuit in 2024. And with weaker guardrails, the industry could veer toward power consolidation that’s very hard to undo.
Even if the market flips back in buyers’ favor, those big brokerages won’t easily give up control. Power, once concentrated, tends to stick.
Wall Street, Zillow, and the “So What?” Factor
Critics argue private listings are fueled by Wall Street investors pushing for short-term growth at big brokerages. Zillow, for its part, has taken the opposite stance - blocking off-MLS listings from its platform and casting itself as the consumer’s champion.
Insiders know the truth though - Zillow needs listings in order for homebuyers to keep coming back to it's platform. If enough large brokerages continue the trend of "brokerage exclusives", Zillow's entire business model goes the way of the horse and buggy.
But Brobeck doesn’t care about corporate motives. His point: ignore the spin, focus on the impact. If private listings dominate, buyers and sellers in Alaska could face fewer options, higher costs, and a less transparent marketplace.
The Bottom Line for Alaska Real Estate
For sellers in Anchorage, Wasilla, Palmer, Eagle River, or Girdwood, the future could mean choosing between a handful of mega-brokerages who control access to buyers. For buyers, it might mean fewer homes to choose from unless you’re plugged into the “right” company.
This isn’t just an inside-baseball industry debate - it’s about how much freedom and transparency consumers get in the housing market. And if the big brokerages flip the switch, Alaska’s real estate scene could look very different, very fast.
