eXp Realty introduced a seller advisory form titled “Risks of Limited Market Exposure” that aims to educate sellers on the alleged downside of withholding listings from the MLS.

The form outlines possible risks of off-MLS listings, including reduced visibility, reduced competition and lower profits. eXp says providing this form to sellers considering a private listing is a matter of full disclosure.

“Seller choice is foundational, but choice without truth is a disservice,” eXp CEO Leo Pareja said in a press release. “We believe the industry must lead with transparency, not tactics.”

The brokerage also made the form publicly available online, and challenged other brokerages to adopt the practice and “give every seller in America a clear view of what’s at stake.”

Parejo added that eXp’s recent decision to adhere to Zillow’s anti-private listing policy is not exclusive to the online portal.

“This is not about favoring platforms,” Pareja said. “It’s about delivering consumer transparency at scale.”