There has been a revival of media coverage about off-MLS deals (also known as Pocket Listings) as mentioned in Inman News… “study says off MLS deals cost home sellers big bucks” by Andrea V. Brambila, citing multiple studies in California and nationwide.
We think these studies deserve careful scrutiny. For example the study above makes a meaningless comparison between average and median prices, which, although interesting, is not a statistically valid analysis. Still, there is no doubt that off-MLS sales are happening in most markets, and likely impacting your business. Curious by how much? We make it super easy to find out. And you can even do a better job then they did, as we DO filter out non-arm’s-length’s transactions.
Find off-MLS sales in just 4 easy steps using PropertyRadar:
1) Select Transfer Search
2) Enter Your Location
4) Press Search