Understanding off market

[Tamyia Davis]

Hello-I am wondering, when you sell a property off market does the sell amount show up in a traditional marketplace like Zillow, Redfin, etc.?  In essence does purchasing at wholesale rates have an effect on the market where comps are concerned?

[Mathios Yonan]

Since sales are reported to the IRS, I believe it should be updated every time the deed is transferred

[David M.]

@Tamyia Davis

I don't think Zillow and them scrape the County office records for sales. they usually get their info from the MLS' --- Zillow should be directly hooked in now instead of syndication like most of the rest. So, more than likely I believe if you do an off market transaction, its not really tracked.

For example, appraisers won't know about it since they usually get their data from the MLS. The system is geared for brokered transactions, not private transactions. Besides, an off-market transaction wouldn't be a good comp anyway since it wasn't publically offered.

Does that help?

[Tamyia Davis]

Quote from @David M.:

@Tamyia Davis

I don't think Zillow and them scrape the County office records for sales. they usually get their info from the MLS' --- Zillow should be directly hooked in now instead of syndication like most of the rest. So, more than likely I believe if you do an off market transaction, its not really tracked.

For example, appraisers won't know about it since they usually get their data from the MLS. The system is geared for brokered transactions, not private transactions. Besides, an off-market transaction wouldn't be a good comp anyway since it wasn't publically offered.

Does that help?

Yes-very helpful thank you!

[Tamyia Davis]

Quote from @Mathios Yonan:

Since sales are reported to the IRS, I believe it should be updated every time the deed is transferred

Thank you!

[Rick Albert]

Zillow can pull off market sales since they do pull public records.