Zillow Study Shows Sellers Who Skip the MLS Lose Thousands

A new Zillow study reveals significant financial consequences for home sellers who did not list their properties on the Multiple Listing Service (MLS). 

 

What is the Multiple Listing Service (MLS)?

 

The MLS is a database of homes for sale in a specific geographic region. When real estate agents list a property for sale, they add it to the MLS database, which allows other agents and brokers in the region to review the listing. 

 

According to the National Association of Realtors (NAR), the concept of an MLS dates all the way back to the late 1800s, when real estate agents would periodically meet to share information about the properties they had for sale. 

 

It’s important to note that homeowners who are selling their property themselves cannot add their homes to the MLS, but they can work with agents and brokers to have their home added.

 

What Sellers Stand to Lose if They Skip Listing on the MLS

 

Over the past two years, sellers who didn’t list their homes on the MLS left over $1 billion on the table.

 

On average, sellers who opted not to list on the MLS sold for nearly 1.5% less.

 

In high-demand markets like New York, the loss was even more significant: 3.7%, compared to MLS-listed homes.

 

Why Listing on the MLS Matters for Sellers

 

Listing on the MLS offers the greatest exposure to the widest audience of buyers. More visibility means more competition, which gives your sellers a much better chance of securing the highest possible price for their homes.

 

81% of sellers say it’s important for their home listing to be viewable for free to the public. When properties are hidden behind private listing networks, the pool of potential buyers shrinks, which ultimately affects the seller’s financial outcome.

 

Why Listing on the MLS Matters for Buyers

 

Zillow’s research shows that 91% of buyers believe they should be able to view all listings for free. In today’s market, where housing supply is down 26% from pre-pandemic levels, it’s critical for buyers to have full access to available homes.

 

Maximize Your Options and Sale Price

 

Listing on the MLS will help you reach the largest possible audience and maximize your sale price. 

 

Let’s chat if you have any questions or if you’d like to discuss how we can help you navigate the home selling process.