| CURATED for Agents | Compass Asks MLSs to Wall Off Its Data, Rates Hit 7.50% & United Claims a $1 Billion Edge |
MONDAY · SEPTEMBER 28, 2026 We did the reading across the industry so you can skip it. Here are the 10 stories worth knowing today, and where agents come down on each. Every story comes with the agent reaction, so you know where the room stands. |
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| 👋 Agents. Compass sent the MLSs a letter they did not expect.
Compass asked MLSs to keep its data away from recruiting software, and the reaction came with names attached. The average lender hit 7.50 percent for the first time since April 2024. United says its flat-fee model has paid agents a billion dollars more than a split would have. And Rocket Mortgage says it will make VantageScore 4.0 its preferred credit score for all eligible loans. Let’s get into all of it.
Enjoy, — CURATED. |
| 1st TakeCompass Asked MLSs to Keep Its Data From Recruiting ToolsThe Quick TakeCompass sent multiple MLSs a letter asking them to keep Compass listing and agent data out of feeds provided to recruiting software vendors, naming Courted, BrokerMetrics, and Brokerkit. The letter was sent by Victor Lund of the consulting firm WAV Group, who works as a Compass contractor. A Compass spokesperson confirmed it and declined further comment. Read more →Why It’s HeatedAccording to media reports, the letter says Compass supports sharing data for cooperation, but not having it resold for agent recruiting. Greg Robertson points to a 30-day deadline and a line offering to release damage claims if MLSs comply. | 📊 The Takes
Compass’s letter drew fears of an Australia-style market, jabs about Compass’s own in-house tool, and some agreement that MLS mission creep is real.
🇦🇺 Sees Australia Coming — ‘Best case, we end up like New York. Worst case, we end up like Australia.’
🪞 Eyes Compass’s Own Tool — ‘Compass already has something like this in-house. That makes the letter look different to me.’
✅ Calls It Valid — ‘MLS mission creep has been the bigger problem for years. Compass has a point.’ |
| 2nd TakeThe Average Lender Hit 7.50% for the First Time Since April 2024The Quick TakeFriday’s bond rally did not hold. The top-tier 30-year fixed bounced back to 7.50 percent, the first time the average lender has been there since April 30, 2024. At times rates seemed to track oil, but oil fell back while rates stayed high. Read more →Why It’s BurningThe other drivers are the usual suspects: strong economic data, worry the next data will be stronger, and supply pressure in Treasuries. Oil explains less of this move than it appears to. | 📊 The Takes
At 7.5, agents are rerunning buyer budgets, letting tired buyers sit out until spring, and tracking economic data instead of oil.
🧮 Reruns Every Budget — ‘I rerun every buyer’s numbers at 7.5 before the next showing.’
⏸ Pauses the Search — ‘If a buyer wants to sit out until spring, I am not talking them out of it.’
🔬 Watches the Data — ‘Oil is not the story. Strong economic data and Treasury supply are what I am tracking.’ |
| 3rd TakeUnited Says It Has Paid Agents $1 Billion More Than a Split Would HaveThe Quick TakeUnited Real Estate says it and its affiliated offices have cumulatively paid agents 1 billion dollars more than they would have earned at a typical commission-split brokerage. The company charges a flat fee per transaction instead of a split, and says agents keep 96 percent of the commission at closing. Read more →The StakesUnited puts the difference at 21 to 45 percent more per transaction. The number is the company’s own calculation, measured against a model it chose. | 📊 The Takes
United’s billion-dollar pitch is a math problem for many agents, a support problem for others, and a benchmark problem for the skeptics.
💵 Runs the Math — ‘Keeping 96 percent at closing is real money. Show me the flat fee and I will do the math.’
🏗 Wants the Support — ‘A low fee does not generate a single lead for me. Support is what I pay for.’
🧾 Doubts the Benchmark — ‘United chose the split it compared against. I want the math on my own split.’ |
| 4th TakeA Miami MLS Chief Says Brokers Are Giving Away Their DataThe Quick TakeIn a column, Dionna Hall, co-CEO of Miami Realtors and BeachesMLS, says the industry has spent two years on portal display rules while its data leaks out the back. She says aggregators and AI platforms use active listings to feed valuation models, appraisals, mortgage risk engines, and large language models. Read more →What’s ChangingHall separates each listing into two jobs. Brokers should keep full control of consumer display, and should get paid when the structured data behind it trains someone else’s product. | 📊 The Takes
Agents who want a check when listings train AI outnumber those protecting syndication reach and those who figure the data is already gone.
💰 Wants a Cut — ‘If my listing trains their model, I want a check.’
📡 Wants the Reach — ‘Syndication is how my listing gets seen. Do not choke it.’
⏰ Calls It Too Late — ‘The AI platforms already have the data. Asking for a check now feels late.’ |
| 5th TakeRocket Mortgage Will Make VantageScore 4.0 Its Preferred Credit Score for Eligible LoansThe Quick TakeRocket Mortgage says it will become the first mortgage lender to use VantageScore 4.0 as its preferred credit scoring model for all eligible loans. In the fourth quarter of 2026, it will default to VantageScore for mortgages delivered to Fannie Mae and Freddie Mac, VA home loans, and other eligible mortgages. Rocket says roughly four months of testing showed VantageScore helped more clients qualify. Read more →Why It’s HotRocket says clients who saved money with VantageScore saved an average of 1,600 dollars at closing. For now, FHA loans, jumbo loans, second homes, and investment properties still use FICO. Rocket Pro, its broker division, will offer both scores to mortgage brokers. | 📊 The Takes
Rocket’s switch reads as good news for thin-file buyers to most agents, while others want to see real approvals and a few note FHA loans still run on FICO.
💳 Likes the Thin-File Help — ‘VantageScore can count rent and utility payments on a credit file. That helps my first-time buyers.’
⏳ Waits for Approvals — ‘Those testing results are Rocket’s own numbers. I want to see my buyers approved first.’
🏦 Watches the FHA Gap — ‘My FHA buyers get nothing from this yet. Rocket still uses FICO on FHA loans.’ |
| 6th TakeTwo Tennessee Realtor Associations Joined Realtracs, Bringing Its Owner Associations to EightThe Quick TakeRealtracs, the Tennessee-based MLS, is adding the River Counties Association of Realtors and the Great Smoky Mountains Association of Realtors to its ownership group. River Counties began using Realtracs in August, and the Great Smoky Mountains partnership launched on Sept. 28. Together they represent more than 1,700 real estate professionals and bring 98,000 listing records. Read more →What This MeansThe two associations keep their local operations and take part in Realtracs governance. Members get its MLS technology and broader network. They also get data licensing agreements meant to add protections for listing information. | 📊 The Takes
A bigger Tennessee database appeals to most agents, while some want proof that local control holds and others just want a smooth software switch.
🗺 Wants One Database — ‘One bigger MLS puts more listings in front of my buyers. I like that.’
🏠 Guards Local Control — ‘Keeping local operations sounds good. I want to see my association still has a say.’
🛠 Watches the Switchover — ‘Changing MLS systems means learning new software. I hope the training is ready.’ |
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