"Limited Market Reach: Private listings are not advertised on the Multiple Listing Service (MLS), which is the primary database used by real estate professionals to widely market properties to potential buyers. This limitation significantly reduces the number of potential buyers who see the property, resulting in fewer offers. Lower Sale Prices: Multiple studies and analyses, including research from Zillow and Bright MLS, indicate that homes marketed outside the MLS consistently sell for less than those with broader public exposure."
"Vulnerability to Undervaluation: Seniors, who may be selling their homes quickly due to health reasons or a move to assisted living, might be more susceptible to accepting a lower price or having their home undervalued. Some advocates suggest this could amount to elder financial abuse if the agent is not acting in the seller's best interest. Potential for Conflict of Interest: Private listings allow the agent to market the property exclusively within their own network (known as "pocket listings")."
Private off‑MLS listings bypass the Multiple Listing Service (MLS), sharply reducing exposure and the pool of potential buyers and often producing fewer offers. Empirical analyses, including Zillow and Bright MLS research, show homes marketed outside the MLS routinely sell for less than those with broader public exposure. Seniors selling quickly for health or assisted‑living reasons are especially vulnerable to accepting lower prices or undervaluation, which can approach elder financial abuse when agents prioritize expedient deals. Pocket listings and dual agency raise conflict‑of‑interest risks. Reduced sale proceeds can materially jeopardize seniors' retirement funds and future care financing.
Read at Boston Condos For Sale Ford Realty
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