RISMedia | Jesse Williams
It’s a tale as old as time. The FSBO who plans to forgo the traditional real estate process until a few weeks (or months) of watching neighbors sell and field lowball offers brings them back to the agent—and to the MLS.
While real estate professionals will argue all day for the benefit of using an MLS to sellers, what does the data actually say? Do sellers really benefit financially from using the traditional real estate process, even after accounting for commission paid?
According to a new survey conducted jointly by Drexel University and Bright MLS, the answer is, they do—often by a lot. Comparing over three years of on-MLS and off-MLS sales, researchers found that on-MLS properties brought in an average of 15.25% more—and that premium could be increasing.
“When you look at the home prices that a seller got when they listed their home on the MLS…we found that the price premium of on-MLS sales was actually higher during the pandemic and in 2022 than it was before,” says Dr. Lisa Sturtevant, Bright MLS chief economist, who co-authored the study. “(And) we’ll probably see a bit of an increase in 2023.”
Access the full study here.
Read the full article: On-MLS Sales Fetch $50K Premium
