The latest data is in, and it confirms what many of us in the real estate business have long suspected: properties listed on the MLS consistently outperform those kept in private listing networks or “office exclusives.” As the practice of marketing homes privately grows, the question is more important than ever for sellers and agents alike: what’s really the better move?
According to Bright MLS’s analysis of over 100,000 home sales across six states and D.C., office exclusives take 85% longer to go under contract compared to homes listed in the MLS. That’s a 37-day median versus just 20 days for MLS listings . Nearly 90% of those office exclusives ended up on the MLS before selling anyway .
And this isn’t just a national issue—it’s showing up here in the St. Louis region too. According to MARIS, our local MLS, as of early May 2025, office exclusive listings currently make up 8.95% of the active listings in the Missouri areas covered by MARIS, and 4.83% of the active listings in the Illinois portion of the market. That’s a meaningful chunk of inventory that’s essentially invisible to most buyers.
While office exclusives are often pitched as tools for privacy, price testing, or exclusivity, the data simply doesn’t back up the notion that they lead to better outcomes for sellers. In fact, Bright MLS found no statistically significant pricing advantage after adjusting for property characteristics and location .
Zillow’s March 2025 study reinforces that conclusion on a national scale. Off-market homes sold for an average of $5,000 less than their MLS-listed counterparts—1.5% lower. In California, that gap widened to 3.7%. Even high-end homes, which are often cited as prime candidates for private listings, showed a small price hit when sold off-market .
To me, the biggest concern is access. In ZIP codes where private listings make up over 20% of new inventory, it creates a fragmented, opaque marketplace that disadvantages consumers and undermines the transparency the MLS is built to provide .
Nonetheless, brokerages like Douglas Elliman and The Corcoran Group have rolled out their own private networks this year. Their branding focuses on discretion and pre-market testing. But as the data shows, those listings often end up right back where they should have started—in the MLS .
Whether you’re a homeowner looking to maximize your sale or an agent trying to act in your client’s best interest, the evidence overwhelmingly favors MLS listings. From exposure and speed to price and fairness, the MLS continues to be the foundation of a healthy real estate marketplace. And if almost 9 out of 10 office exclusives end up on the MLS anyway, that says it all.
At MORE, REALTORS®, we help our clients navigate these decisions with the advantage of data, technology, and experience. We don’t just promote what’s trending — we advocate for what works.
