Compass private exclusives. The Open Real Estate countermove. A fight over who gets access to listings—and what that means for your business.

Tom Ferry brings T360’s Jack Miller back to unpack the competing strategies, challenge the assumptions, and get into the trade-offs for agents, buyers, and sellers.

The stakes go beyond brokerage headlines. How do you explain private marketing versus broader exposure to a seller? What happens when buyers have to search across competing networks? And how do you prove your value when everyone has access to the same inventory?

In this episode, Tom and Jack dig into:

  • The OpenRE reality check: What the initiative proposes, what was still to be built at the time of recording, and how it differs from Upstream.
  • The fight over access: How a market with more private inventory could complicate home searches, comparable sales data, and financing.
  • The luxury-market question: Why some sellers weigh privacy, convenience, and exposure differently—and where Tom sees potential common ground.
  • The AI adoption gap: Agents have embraced the tools. Jack questions whether the productivity and profit gains are keeping pace.
  • The brokerage business-model shift: Why major companies are offering multiple ways to do business—and what that could mean for your next move.

The next time a client asks what these changes mean, you’ll want more than a headline to work with.