{"id":323965,"date":"2026-08-18T12:40:08","date_gmt":"2026-08-18T12:40:08","guid":{"rendered":"https:\/\/www.newsbeep.com\/us-ny\/323965\/"},"modified":"2026-08-18T12:40:08","modified_gmt":"2026-08-18T12:40:08","slug":"why-youre-only-seeing-a-fraction-of-nyc-homes-for-sale","status":"publish","type":"post","link":"https:\/\/www.newsbeep.com\/us-ny\/323965\/","title":{"rendered":"Why you\u2019re only seeing a fraction of NYC homes for sale"},"content":{"rendered":"<p>You\u2019re supposed to be able to find a home anywhere.\u00a0<\/p>\n<p>But thanks to Compass\u2019 <a href=\"https:\/\/nypost.com\/2026\/06\/04\/business\/ny-ag-probe-decimates-compass-stock-price\/\" rel=\"nofollow noopener\" target=\"_blank\">acquisition of Anywhere Real Estate<\/a>, you can only do that if you hire one of the conglomerate\u2019s agents.<\/p>\n<p>The country\u2019s largest independent real estate brokerage is using its weight \u2014 controlling 21.6% of the market nationwide, and up to 80% in major markets \u2014 to keep private listings off public databases, leaving <a href=\"https:\/\/nypost.com\/2026\/06\/09\/real-estate\/nyers-to-benefit-from-potential-real-estate-transparency-law\/\" rel=\"nofollow noopener\" target=\"_blank\">clueless buyers out in the cold<\/a>.<\/p>\n<p>In Manhattan, Compass controls 80% of the real estate market. Helayne Seidman for the NY Post<\/p>\n<p>\u201cWhen a consumer sits down and uses a website like Streeteasy [in New York City], they don\u2019t know if they\u2019re getting all the listings,\u201d Jonathan Miller, a housing analyst at StreetMatrix, told The Post. \u201cAnd when you have the largest brokerage firm in the world putting a large amount of listings behind a paywall you\u2019re forced to go through an agent of a particular company rather than anybody you want. This is a major setback in the homebuying process to the 1950s.\u201d<\/p>\n<p>Compass\u2019 three-stage marketing pitch promises big gains for sellers. Listings start in-house with Compass\u2019 340,000 agents as a \u201cPrivate Exclusive,\u201d to test the market confidentially, move to a \u201cComing Soon\u201d preview on select sites, and then go fully public. According to Compass, skipping the immediate public launch helps homes sell 34% faster and fetch 4.6% more money.<\/p>\n<p>Compass, which declined to comment, markets the approach as a seller\u2019s choice, providing a <a href=\"https:\/\/nypost.com\/2026\/06\/09\/real-estate\/nyers-to-benefit-from-potential-real-estate-transparency-law\/\" rel=\"nofollow noopener\" target=\"_blank\">disclosure form<\/a> about informed consent to wait to post their home on a Multiple Listing Service.\u00a0<\/p>\n<p>But critics say the promise is a farce.<\/p>\n<p>\u201cYou cannot determine what a home is worth unless you expose it to the broader market,\u201d James Dwiggins, CEO of Compass rival NextHome, told The Post.<\/p>\n<p>Also, Miller said, \u201cConsumers don\u2019t understand what a private listing is, what an MLS is. It\u2019s just somebody you work with that says, \u2018just do this.\u2019\u201d<\/p>\n<p>The practice \u2014 which some say allows Compass to \u201cdouble-dip\u201d by collecting a commission from both the buyer and the seller \u2014 carries massive implications in major metros where Compass dominates.\u00a0<\/p>\n<p>Fueled by its $1.6 billion Anywhere merger, Compass controls 60-plus% of transactions in Redwood City, California; San Francisco; and San Mateo, California \u2014 far surpassing the 30% threshold that invites federal antitrust scrutiny.\u00a0<\/p>\n<p>In Manhattan, that concentration jumps to a staggering 80%, meaning buyers relying on standard portals miss out on the lion\u2019s share of inventory while the homes are hidden.<\/p>\n<p>When Caitlin Bigelow and her husband decided to sell their 1,690-square-foot two-bedroom, two-bathroom San Francisco condominium in 2025, they had \u201ca magic number in mind.\u201d<\/p>\n<p>The Robert Reffkin-led Compass is the largest residential real estate brokerage in the United States by sales volume. Getty Images for Fast Company<\/p>\n<p>At their agent\u2019s suggestion, the couple posted the Cole Valley listing as a Compass Private Exclusive, Bigelow <a href=\"https:\/\/www.linkedin.com\/pulse\/our-almost-100k-mistake-caitlin-o-bigelow-9kdkc\/\" target=\"_blank\" rel=\"noopener nofollow\">wrote on LinkedIn<\/a>.<\/p>\n<p>After two private showings they got their target number.\u00a0<\/p>\n<p>\u201cSF real estate is a strange beast,\u201d Bigelow wrote in the responses section of her post. \u201cI think [the agent] truly believed that us hitting our magic number was basically impossible. So when that happened in the off market I think he was happy for us and excited we were getting what we hoped for.\u201d<\/p>\n<p>But Bigelow, CMO at artificial intelligence-backed content platform Blazel, grew uneasy, wondering if a public listing would have yielded higher offers. When the buyer backed out, the couple listed the condo on the regional MLS \u2014 a cooperative database where competing agents share information about properties for sale with each other \u2014 and Zillow.<\/p>\n<p>In San Francisco, compass claims a 67.5% market share. Anadolu via Getty Images<\/p>\n<p>Six days later they got an offer for $100,000 above their hoped-for price, selling the home for $2.15 million in April 2025, she confirmed to The Post.<\/p>\n<p>\u201cA free and open market is what allowed us to get top dollar and ultimately, walk away with a much bigger win,\u201d Bigelow wrote, later saying, \u201cI would not recommend private exclusives.\u201d<\/p>\n<p>Buyers are feeling the heat, too.<\/p>\n<p>A screenshot of the Compass real estate website. Compass<\/p>\n<p>Even Dwiggins, despite running a national real estate franchise, is struggling while searching for a primary residence with his wife in Northern California.\u00a0<\/p>\n<p>Stalled by sparse public inventory, he was forced to leverage personal connections at Compass just to view the full gamut of all available properties \u2014 something the average house hunter could not do.<\/p>\n<p>Seymen Usta was disappointed that the house he found on his own wasn\u2019t available to him. AFP via Getty Images<\/p>\n<p>Seymen Usta, founder and CEO of Modern Chandelier in St. Petersburg, Florida, spent weeks searching for a home in December. Driving around, he finally stumbled upon a Craftsman house on a corner lot on Beach Drive with a coveted porch swing, only to be told it was a \u201cCompass Coming Soon\u201d listing that was \u201cnot officially on the market yet.\u201d<\/p>\n<p>\u201cI was calling listing agents directly, thinking I was being efficient,\u201d Usta told The Post. \u201cWhat I didn\u2019t realize was that without an agent plugged into Compass\u2019 internal network, I was invisible to their \u2018Coming Soon\u2019 inventory.\u201d<\/p>\n<p>It took him three weeks to find the home on Zillow, where he could only view a photograph before it was snatched up.<\/p>\n<p>\u201cThe house sold for $40,000 less than I would\u2019ve paid,\u201d Usta said.<\/p>\n<p>A sign advertising a home for sale is displayed outside of a Manhattan building. Getty Images<\/p>\n<p>States are beginning to crack down on private listings, with legislatures in Washington, Wisconsin and Connecticut moving to ban or restrict off-market listings, and similar measures are pending in New York, Illinois and Hawaii.<\/p>\n<p>In New York, the Attorney General\u2019s antitrust division launched an investigation into Compass\u2019 footprint, which is still ongoing, her office confirmed.<\/p>\n","protected":false},"excerpt":{"rendered":"You\u2019re supposed to be able to find a home anywhere.\u00a0 But thanks to Compass\u2019 acquisition of Anywhere Real&hellip;\n","protected":false},"author":2,"featured_media":323966,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[35],"tags":[68,5013,75,84,83,29098,9,24,63,1491,3006,8725,12831],"class_list":["post-323965","post","type-post","status-publish","format-standard","has-post-thumbnail","category-manhattan","tag-exclusive","tag-homeowners","tag-manhattan","tag-manhattan-headlines","tag-manhattan-news","tag-mergers-acquisitions","tag-new-york","tag-new-york-city","tag-nyc","tag-real-estate","tag-residential-real-estate","tag-san-francisco","tag-st-petersburg"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/posts\/323965","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/comments?post=323965"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/posts\/323965\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/media\/323966"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/media?parent=323965"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/categories?post=323965"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/tags?post=323965"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}