Courtney Poulos, founder and CEO of ACME Real Estate in Los Angeles, argues that direct partnerships between major brokerages and listing platforms are accelerating a power shift moving control of listing data away from agents and toward technology companies. With 20 years of experience building a boutique brokerage, Poulos has watched agents steadily lose ground in their ability to control how their listings are distributed and monetized.
The core issue, according to Poulos, is that agents bear the costs of creating listing content but have the least say in how it is used. Agents fund professional photography, staging, videos, and marketing materials while MLSs collect fees from platforms in exchange for access to that agent-created data. "Everyone has a claim to the data, but the people who create it and own the properties have the least say in how it's used," she says.
The fragmentation of the MLS landscape exacerbates the problem, with more than 1,100 separate MLS systems nationwide operating under different rules and standards. This fragmentation prevents agents from having a unified voice when negotiating with national platforms that operate across all markets. "When you have about 600 different systems with different standards, agents can't collectively negotiate favorable terms," Poulos explains.
For boutique brokerages like ACME Real Estate, which closed $155 million in sales in 2024 across 35 agents, the financial imbalance is particularly acute. When a listing fails to sell, the agent takes a total loss on photography, video, and marketing spend while the MLS has already profited from syndicating that content. Poulos argues that if platforms are paying MLSs for access to agent-created data, agents should be part of the conversation about how that revenue is distributed.
The direct partnership agreements now being announced between major brokerages and listing platforms are setting precedents that will shape listing distribution for years. The key question, according to Poulos, is whether these deals give brokerages genuine control over their data or simply formalize existing arrangements where platforms retain distribution authority. "The real test is whether these deals result in agents having more say in how their listings are marketed, or whether they're just new arrangements that maintain platform control," she says.
For independent and boutique brokerages, the stakes are concrete. If major national firms lock in exclusive or preferential platform relationships, smaller brokerages will compete at a structural disadvantage with no equivalent leverage to offset it. Poulos warns that "unless there's collective action through restructured systems, independent brokerages will continue to have limited leverage."
Poulos supports consolidating the nation's MLS systems into a single nationwide platform accessible to all licensed agents regardless of location. A unified system would standardize data across markets and give agents the collective bargaining power they currently lack. The practical benefits would extend beyond negotiating leverage, addressing issues like multiple memberships, inconsistent fee structures, and incompatible data standards that agents working across state lines currently navigate.
Consolidating MLS systems would require cooperation from organizations that benefit from the current structure, including existing MLS organizations, state associations, and large brokerages. Poulos does not minimize that obstacle but argues the cost of inaction is higher. Without structural change, agents will continue absorbing content creation costs while platforms consolidate control over distribution.
Poulos expects the next 12 to 18 months to be decisive, noting that "the deals being negotiated now will set precedents that shape real estate for the next decade." Her advice to individual agents is to pay attention to where leverage is concentrating, as agents and small brokerages operating in isolation have little ability to influence these outcomes. Collective action through a restructured national system represents the mechanism that could change the current trajectory.
