Off-market is where it's at

[David Haynes]

Thought I would throw this gem out there. Bright MLS recently made the following statement, "Bright's On/Off MLS Study reveals the median sale price for homes promoted through the MLS was 16.98% higher than homes sold off-MLS."

I know it's a well-known fact that off-market properties are usually cheaper, but it's good to see just how much cheaper. Their study included the surrounding areas of Philadelphia, Baltimore, and D.C.

If you want to buy properties 17% cheaper, work on your off-market sources. The opposite is also true. If you want to sell your home 17% higher, it's apparently worth using a listing agent.

Thoughts? Insights? Success stories?

[Mike Schorah]

Love the article. Thank you @David Haynes. I live right in between Philadelphia and Baltimore. To put that in perspective... An off-market $165,000 home would be $28k more with a total price of $193,017 on the MLS. $4k in direct mail to get $28k extra?? Count me in!!