A recent Zillow study found that sellers who did not list their properties on the MLS lost over $1 billion collectively in sale proceeds over the past two years, with deeper losses in communities of color. In 2023-2024, non-MLS sellers missed out on about $5,000 per sale, with losses in Black and Hispanic neighborhoods reaching up to $13,728. The study highlights that many Hispanic and Black sellers are advised to list off the MLS, contributing to systemic inequities in real estate. Zillow advocates for transparency and supports the NAR's Clear Cooperation Policy to ensure fair market access.
In 2023 and 2024, sellers who chose not to list on the MLS typically lost out on nearly $5,000, selling their property for 1.5% less than those listed on the MLS.
These off-market listings not only harm sellers, but they limit exposure to potential buyers, possibly deepening inequities that have long existed in real estate.
Collection
[
|
...
]