Sellers utilizing dual agents and private listings lost a combined $2.85 billion over three years, with private listings selling for 1.3% less than MLS-listed comparable homes. This data highlights a critical need for proptech developers to create platforms that enhance market transparency and expose hidden inventory, potentially disrupting the traditional velvet rope system that enriches brokerages at the expense of sellers. The legislative push to ban or restrict private listings in states like Washington and Wisconsin indicates a growing regulatory environment that real estate tech solutions must navigate.
Read the full article at Realtor.com Blog
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