One topic has dominated real estate for the past few weeks: Compass’s private exclusives on one side, and on the other, Open Real Estate, a new shared listing system announced by the next four largest brokerages. Agents are confused, and the stakes are high at a time of historically low transaction counts.

In this episode of the Tom Ferry Podcast Experience, Tom sits down with Jack Miller of T3 Sixty, the industry’s go-to analyst when big change hits, to get past the noise. This isn’t about picking sides. It’s about understanding the tradeoffs so you can make the right call for your business and your clients.

You’ll learn: -Whether Open Real Estate is really just Project Upstream 2.0, and what’s different this time -Where Compass and Open Real Estate actually agree -Why price point may be what this debate is really about -The hidden friction private listings create for buyers, appraisals, and financing -Why a level playing field forces listing agents to compete on skill, not access -How agents are adopting AI, and why it isn’t showing up in the bottom line yet

The bottom line: whatever happens with the big brands, the agent who has the most meaningful conversations with clients still wins.

Want to see what’s coming next for the industry? Pick up the 2027 Swanepoel Trends Report from T3 Sixty. It covers private listings, multi-model brokerages, the 40-year-old first-time homebuyer, AI adoption, and more. Use code TOM for special pre-order pricing. 👉 https://www.t3trends.com