Recent Zillow research reveals that home sellers who chose to list privately, avoiding the MLS, forwent about $1 billion collectively throughout 2023 and 2024. This choice mostly affected communities of color, where homes sold for 3.2% less than in other demographics. Despite claims from the National Association of Realtors about protecting consumers by requiring MLS listings, the practice has raised concerns over competition barriers, as many agents discouraged Black and Hispanic sellers from using the MLS. Critics warn this trend may exacerbate existing inequalities in real estate.
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.
The choice disproportionately affected communities of color, with non-MLS listings leading to a 3.2% lower sale price in predominantly Black and Hispanic neighborhoods.
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