Compass updates seller disclosure form, clarifies off-MLS marketing

Compass has put forth a revised version of its seller disclosure form to clarify how its three-phase marketing strategy works — including when and how listings are shared with the public. The Compass 3-Phased Marketing Strategy Client Disclosure Form expands on a version first introduced in 2024.

Updates include language aimed at improving seller understanding of off-market phases and outlining the benefits and risks of pre-listing promotion, according to the company.

“We continue to advocate for homeowners’ right to choose how, when, and where their home is marketed,” said Compass CEO and founder Robert Reffkin. “This enhanced seller disclosure form builds off of Compass’ disclosure form launched in 2024 and represents another step we’re taking to promote greater transparency and professionalism in our industry.”

The disclosure form describes Compass’s phased approach to marketing homes — starting with a “Private Exclusive” period, followed by a “Coming Soon” stage and culminating in a public listing on the multiple listing service (MLS) during Phase 3.

It makes clear that sellers are not obligated to accept offers during the earlier stages and that the property will not appear on the MLS or public real estate portals until the final phase.

The company says the phased rollout allows sellers to generate early interest, refine pricing strategies and protect a home from extended time on the market that can affect perceived value.

Compass President Neda Navab said the document is part of the firm’s broader mission to support informed decision-making.

“Our goal is to empower agents to deliver the best possible experience for their clients,” Navab said. “By helping our clients make fully informed decisions and offering them strategic choices that best fit their needs, we’re raising the bar for what consumers should expect from their real estate advisor.”

The form also warns that delaying an MLS listing may reduce a home’s visibility and lead to fewer showings or offers. Sellers are advised that they can switch to an MLS listing at any point and are under no obligation to accept any early offers.

The form — previously required in some states — is now mandatory nationwide for all Compass seller clients before any pre-listing marketing begins.