When selling a home, every dollar counts—but what if I told you that selling off the MLS could mean leaving money on the table? A recent study by Zillow found that over the past two years, sellers who chose to transact off the MLS collectively lost more than $1 billion compared to those who listed their homes publicly.
How Much Are Sellers Losing?
The study examined home sales from 2023 and 2024, revealing that homes sold off the MLS typically sold for $4,975 less than those listed on the MLS—a median loss of 1.5% nationwide. Here are some key takeaways:
- Homes at all price points sold for less when not listed on the MLS, with lower-priced homes taking the biggest hit.
- 44 out of 46 states included in the study saw a negative impact from off-MLS sales.
- Sellers in 33 states lost more than 1% on off-MLS sales, and in 10 states, losses exceeded 2%.
- California sellers were hit hardest, with a 3.7% median loss ($30,075), followed by New York (-3.7%) and Massachusetts (-3.4%).
- Urban homes suffered the most, with a 2% median loss, compared to 1.5% in suburban areas and 0.9% in rural areas.
What This Means for Sellers
The conversation around off-MLS sales ties into the Clear Cooperation Rule, a policy from the National Association of Realtors (NAR) that requires agents to submit listings to the MLS within one business day of publicly marketing a property. The goal? Transparency and broad market exposure. While some argue that sellers should have the freedom to list their homes however they choose, this study presents a compelling case for why listing on the MLS often results in a better financial outcome.
As a real estate professional in Knoxville, my priority is making sure my clients have all the information they need to make the best decisions. Whether you’re thinking about selling off-market or going the traditional MLS route, I’m here to guide you every step of the way.
Thinking about selling your home? Let’s talk about the best strategy to maximize your sale price!
