Privately listed homes disproportionately harm sellers of color
Zillow research reveals significant financial losses for home sellers who opt out of Multiple Listing Service (MLS), with disproportionate impact on communities of color. During 2023-2024, off-MLS sellers collectively lost over $1 billion, with average losses of $5,000 per sale (1.5% less than MLS-listed homes).
The impact is particularly severe in communities of color, where off-MLS homes sold for 3.2% less than MLS-listed properties, compared to 1.2% in majority white neighborhoods. This translates to losses of $9,850 per home in communities of color versus $3,700 in majority white areas.
Hispanic neighborhoods face the highest impact, with off-MLS listings selling for 4% less ($13,730 difference). Survey data shows 74% of Hispanic and 73% of Black sellers were recommended private listings by agents, compared to 24% of white sellers. The current market shows 26% fewer homes available than pre-pandemic levels.
La ricerca di Zillow rivela significative perdite finanziarie per i venditori di case che scelgono di non utilizzare il Servizio di Pubblicazione Multipla (MLS), con un impatto sproporzionato sulle comunità di colore. Durante il periodo 2023-2024, i venditori al di fuori del MLS hanno perso collettivamente oltre 1 miliardo di dollari, con perdite medie di 5.000 dollari per vendita (1,5% in meno rispetto alle case elencate nel MLS).
L'impatto è particolarmente severo nelle comunità di colore, dove le case vendute al di fuori del MLS hanno realizzato il 3,2% in meno rispetto alle proprietà elencate nel MLS, rispetto all'1,2% nelle aree a maggioranza bianca. Questo si traduce in perdite di 9.850 dollari per casa nelle comunità di colore rispetto ai 3.700 dollari nelle aree a maggioranza bianca.
Le comunità ispaniche affrontano l'impatto più elevato, con le inserzioni al di fuori del MLS che vendono per il 4% in meno (una differenza di 13.730 dollari). I dati del sondaggio mostrano che il 74% dei venditori ispanici e il 73% dei venditori neri sono stati consigliati a utilizzare inserzioni private dagli agenti, rispetto al 24% dei venditori bianchi. L'attuale mercato mostra una disponibilità del 26% inferiore rispetto ai livelli pre-pandemia.
La investigación de Zillow revela pérdidas financieras significativas para los vendedores de viviendas que optan por no utilizar el Servicio de Listado Múltiple (MLS), con un impacto desproporcionado en las comunidades de color. Durante 2023-2024, los vendedores fuera del MLS perdieron colectivamente más de $1 mil millones, con pérdidas promedio de $5,000 por venta (1.5% menos que las casas listadas en MLS).
El impacto es particularmente severo en las comunidades de color, donde las casas fuera del MLS se vendieron por un 3.2% menos que las propiedades listadas en el MLS, en comparación con un 1.2% en vecindarios predominantemente blancos. Esto se traduce en pérdidas de $9,850 por casa en comunidades de color frente a $3,700 en áreas predominantemente blancas.
Los vecindarios hispanos enfrentan el mayor impacto, con listados fuera del MLS que se venden por un 4% menos (una diferencia de $13,730). Los datos de la encuesta muestran que el 74% de los vendedores hispanos y el 73% de los vendedores negros recibieron recomendaciones de listados privados por parte de agentes, en comparación con el 24% de los vendedores blancos. El mercado actual muestra un 26% menos de casas disponibles que los niveles anteriores a la pandemia.
Zillow의 연구에 따르면, 다중 목록 서비스(MLS)를 사용하지 않는 주택 판매자에게는 상당한 재정적 손실이 발생하며, 유색 인종 커뮤니티에 불균형적인 영향을 미치고 있습니다. 2023-2024년 동안 MLS 외의 판매자들은 총 10억 달러 이상의 손실을 입었으며, 판매당 평균 손실액은 5,000달러입니다(MLS에 등록된 주택보다 1.5% 낮음).
영향은 특히 유색 인종 커뮤니티에서 심각하며, MLS 외의 주택은 MLS에 등록된 부동산보다 3.2% 낮은 가격에 판매되었습니다. 이는 백인 커뮤니티에서는 1.2%에 해당합니다. 이는 유색 인종 커뮤니티에서 주택당 9,850달러의 손실로 이어지며, 백인 지역에서는 3,700달러의 손실로 나타납니다.
히스패닉 지역은 가장 큰 영향을 받으며, MLS 외의 목록이 4% 낮은 가격에 판매되고 있습니다(13,730달러 차이). 설문 조사 데이터에 따르면, 히스패닉 판매자의 74%와 흑인 판매자의 73%가 에이전트로부터 개인 목록을 추천받았으며, 백인 판매자는 24%에 불과합니다. 현재 시장에서는 팬데믹 이전 수준보다 26% 적은 주택이 제공되고 있습니다.
La recherche de Zillow révèle des pertes financières significatives pour les vendeurs de maisons qui choisissent de ne pas utiliser le Service de Liste Multiple (MLS), avec un impact disproportionné sur les communautés de couleur. Au cours de 2023-2024, les vendeurs hors MLS ont perdu collectivement plus de 1 milliard de dollars, avec des pertes moyennes de 5 000 dollars par vente (1,5 % de moins que les maisons listées dans le MLS).
L'impact est particulièrement sévère dans les communautés de couleur, où les maisons vendues hors MLS se sont vendues 3,2 % de moins que les propriétés listées dans le MLS, contre 1,2 % dans les quartiers à majorité blanche. Cela se traduit par des pertes de 9 850 dollars par maison dans les communautés de couleur contre 3 700 dollars dans les zones à majorité blanche.
Les quartiers hispaniques subissent l'impact le plus important, les annonces hors MLS se vendant 4 % de moins (une différence de 13 730 dollars). Les données de l'enquête montrent que 74 % des vendeurs hispaniques et 73 % des vendeurs noirs ont reçu des recommandations pour des annonces privées de la part d'agents, contre 24 % des vendeurs blancs. Le marché actuel montre 26 % de maisons disponibles en moins qu'avant la pandémie.
Die Forschung von Zillow zeigt erhebliche finanzielle Verluste für Hausverkäufer, die auf den Multiple Listing Service (MLS) verzichten, mit einem unverhältnismäßigen Einfluss auf farbige Gemeinschaften. Im Zeitraum 2023-2024 haben Verkäufer außerhalb des MLS insgesamt über 1 Milliarde Dollar verloren, mit durchschnittlichen Verlusten von 5.000 Dollar pro Verkauf (1,5% weniger als bei MLS-gelisteten Häusern).
Der Einfluss ist besonders stark in farbigen Gemeinschaften, wo außerhalb des MLS verkaufte Häuser 3,2% weniger als MLS-gelistete Immobilien erzielten, im Vergleich zu 1,2% in mehrheitlich weißen Nachbarschaften. Dies führt zu Verlusten von 9.850 Dollar pro Haus in farbigen Gemeinschaften im Vergleich zu 3.700 Dollar in mehrheitlich weißen Gebieten.
Hispanische Nachbarschaften sind am stärksten betroffen, da außerhalb des MLS gelistete Immobilien 4% weniger verkauft werden (eine Differenz von 13.730 Dollar). Umfragedaten zeigen, dass 74% der hispanischen und 73% der schwarzen Verkäufer von Agenten private Listings empfohlen wurden, im Vergleich zu 24% der weißen Verkäufer. Der aktuelle Markt zeigt 26% weniger verfügbare Häuser als vor der Pandemie.
- MLS-listed properties consistently achieve higher sale prices
- Research identifies systemic issues, enabling potential corrective actions
- Over $1 billion in collective seller losses from off-MLS sales in 2023-2024
- Discriminatory impact on minority communities with 3.2% higher losses
- Hispanic neighborhoods face severe 4% value loss ($13,730) in off-MLS sales
- Disproportionate steering of minority sellers toward private listings
- 26% reduction in housing inventory compared to pre-pandemic levels
Home sellers in communities of color lose
In 2023 and 2024, home sellers who opted to sell off the MLS typically lost out on nearly
"The data is clear that selling off the MLS costs home sellers in communities of color thousands of dollars in lost value," said Orphe Divounguy, Zillow senior economist. "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. We must maintain transparency in the housing market so we don't go back to the dark ages of real estate."
Zillow survey data shows that Hispanic and Black home sellers are more often guided toward listing their homes privately by agents. Among home sellers who worked with an agent to list their home,
Homes in majority Hispanic neighborhoods are affected most, selling for
These trends underscore how selling off the MLS can cause sellers to miss out on the full potential of their housing wealth, particularly in communities of color. These communities may also miss out on opportunities for homeownership when homes for sale are only available to a select group rather than publicly available to all potential buyers. It is especially critical that buyers see all homes for sale in an inventory-constrained market like today's, where there are
Seller Group | Median Sale Price Difference | Median Sale Price Difference |
All home sellers | -1.5 % | - |
Sellers in majority white (not Hispanic) neighborhoods | -1.2 % | - |
Sellers in communities of color | -3.2 % | - |
Sellers in majority Black neighborhoods | -3.1 % | - |
Sellers in majority Hispanic neighborhoods | -4.0 % | - |
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SOURCE Zillow
FAQ
How much money do sellers lose on average when selling homes off-MLS in 2023-2024?
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