Why Off-MLS Listings, Pocket-Listings and Whisper-Listings can spell T-r-o-u-b-l-e
REALTOR® Pat Kapowich covers the issue of Off-MLS Listings with Real Estate Attorney Anthony Ventura and the CEO of MLSListings.com, Jim Harrison.
In Santa Clara County, the heart of Silicon Valley technology, the local Multiple Listing Service has been painstaking dredging up the statical rising waves of listing that were withheld from the 15,000 members of the MLS. In 2012 there were 2, 700 off-MLS residential transactions that had a median selling price of 64,000 lower than MLS sales.
In 2013, the off-MLS wave grew to chart topping 3.600 which accounted for a 105,000 lower median selling price compared to MLS Sales.