Updated over 2 years ago on . Most recent reply
Understanding off market
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?
Most Popular Reply
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?