A large brokerage recently began encouraging its agents to withhold homes for sale from the MLS until its agents had already tried to sell the home. Zillow has begun fighting back against these brokerages.
Real Estate News reported:
“Samuelson confirmed … that could keep a listing off Zillow forever if that listing is not submitted to an MLS within 24 hours and made widely available.” The statement referred to almost all advertising, not just the increasing trend of brokerages advertising new listings on their own website for several weeks before putting them on the MLS.
The keyword is forever. Zillow gets so many property views that few home sellers would agree to keep their home off Zillow forever.
Zillow states “In California, a home sold off the MLS typically yielded $30,075 less than a home that was listed publicly (a median loss of 3.7%).”
Read more about Zillow and off-market sales at https://julianalee.com/blog/could-keep-a-listing-off-zillow-forever/