Peter Mohylsky.   Broker Associate, THE BEACH IS OPEN AND WAITING FOR YOU (Miramar Beach)

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Fred Griffin Tallahassee Real Estate
Fred Griffin Real Estate - Tallahassee, FL
Licensed Florida Real Estate Broker

     This is one reason why Appraisers use data from multiple sources, including the Property Appraiser's office.  There are a lot of real estate transactions - both residential and commercial - that will never appear in MLS.

May 10, 2021 08:49 AM
Rainmaker
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Jeff Pearl
RE/MAX Distinctive / LIC in VA - Lovettsville, VA
Full Service Full Time Realtor

Most agents seem to think the mls is the only source of info. I've always checked our county websites which reports all sales and I've always used them for comps. Good appraisers also know how to fnd sales that weren't listed in the mls. Some builders also sell homes that were never listed in mls. Some title companies here offer to help Fsbo sellers.

May 10, 2021 02:18 PM
Rainer
133,283
Ken Jones, ASA | Broker & Appraiser
Kenneth J. Jones, Inc./Global Valuations - Newark, NJ
Commercial Real Estate Broker & Appraiser

Peter Mohylsky. Broker Associate Gets factored into what?

May 10, 2021 11:39 AM
Rainmaker
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Lynnea Miller
Bend Premier Real Estate - Bend, OR
Premier Real Estate Service in Central Oregon

It should be factored in if you use RPR to help with your data.

May 10, 2021 10:56 AM
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Ryan Huggins - Thousand Oaks, CA
https://HugginsHomes.com - Thousand Oaks, CA
Residential Real Estate and Investment Properties

There is a good amount of these sales in our market and you only find out about them through the assessor's office and title records usually.  They won't be in the MLS, which is what companies like core logic, NAR and the portals all depend on.

May 10, 2021 09:19 AM
Rainmaker
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Ron and Alexandra Seigel
Napa Consultants - Carpinteria, CA
Luxury Real Estate Branding, Marketing & Strategy

Peter,

Good point, and I have a feeling that they are factored in in some areas.  A

May 10, 2021 08:29 AM
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Anna Banana Kruchten CRS, CRB, Phoenix Broker
HomeSmart Real Estate BR030809000 - Phoenix, AZ
602-380-4886

Interesting Peter.  I haven't seen  many FISBO's in my market.  But when I pull tax records I'll be able to see what else has closed that wasn't in MLS, and I'm not seeing any of that for some time.

May 10, 2021 04:20 PM
Rainmaker
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Lyn Sims
RE/MAX Suburban - Schaumburg, IL
Schaumburg Real Estate

Places like Black Knight will have that info which is where title companies get their info. Our tax base in the MLS pulls that info but you'd have to do a price search of the entire neighborhood.

Like Annette said, Ibuyers are not in the group either.

May 10, 2021 12:31 PM
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Kathleen Daniels, Probate & Trust Specialist
KD Realty - 408.972.1822 - San Jose, CA
Probate Real Estate

Thank you for the clarification and update. 

Interesting information about the sales in your market. 

May 10, 2021 10:58 AM
Rainmaker
869,141
Annette Lawrence , Palm Harbor, FL 727-420-4041
ReMax Realtec Group - Palm Harbor, FL
Making FLORIDA Real Estate EZ

I have asked many tmes on Active Rain for folks to queiry the tax databases to identify the number of sales completed outside of the MLS.

The overwhelming response has been an unwillingness to look off ones own paper.
My impresssion is most agents are without a clue regarding the number of sales that can be attrbuted to FSBO, iBuyer and investors. I bet some will even say recent drop in MLS sales is due to Covid.
WE have access to the data. 
How can one say the 'Know the numbers' if they do not know this one.
The good news is iBuyer are canablizing each other but collectively they ARE making a difference. And the FSBO can benefit.

May 10, 2021 08:49 AM
Rainer
253,854
Don Baker
Lane Realty - Eatonton, GA
Lake Sinclair Specialist

our local paper posts all county transactions weekly so we can keep up with those not in the MLS also. 

May 10, 2021 03:04 PM
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Richie Alan Naggar
people first...then business Ran Right Realty - Riverside, CA
agent & author

Sometimes money changes hands behind the scenes or we can safely assume that a layman seller places a sign and is inundated with offers and may or may not pay 2% to a buyers agent. The market beckons.....

May 10, 2021 10:18 AM
Rainmaker
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Roy Kelley
Realty Group Referrals - Gaithersburg, MD

Interesting. 

May 10, 2021 08:51 AM
Rainmaker
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John Juarez
The Medford Real Estate Team - Fremont, CA
ePRO, SRES, GRI, PMN

I believe that appraisers have the ability to include FSBO data into their work.

I find it hard to believe that a "majority" of closings are FSBO. 

May 10, 2021 08:44 AM
Rainmaker
715,238
Carla Freund
Keller Williams Preferred Realty - Raleigh, NC
Carolina Life RealEstate & Relocation 919-602-8489

Interesting. I'll have to see if I can find some statistics on that. our office was up over 10% in all metrics (listings taken, listings sold, contracts, etc. etc). So, people are still buying and selling with agents. 

May 12, 2021 06:48 AM
Rainmaker
875,113
Mel Ahrens, MBA, Kelly Right Real Estate
Kelly Right Real Estate - Hood River, OR
Customized Choices for your Real Estate Needs

My MLS allows sales to be reported as Sold Not Listed to capture the FSBO sales activity if the buyer was represented.

Most FSBO sales are not entered though.

May 11, 2021 04:48 PM
Rainmaker
465,016
JoAnn Moore
The Mortgage Market of Delaware - Georgetown, DE
Home Loans in Delaware

I have wondered about the same thing. We are a mortgage brokerage and have lots of sales of homes from parents to children, inherited homes by siblings, tenant purchasing from the landlord. Appraisals are done but wouldn't be included in the MLS calculations.  

May 11, 2021 07:29 AM
Rainmaker
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Candice A. Donofrio
Next Wave RE Investments LLC Bullhead City AZ Commercial RE Broker - Fort Mohave, AZ
928-201-4BHC (4242) call/text

Our wonderful County GIS has layers including sales. So I can look at an area from the sky, click a button and see the last sale how much what kind of deed and when. I have always used that over MLS.
There has always been life outside MLS.
NAR says that 88% of homes sold used a realtor in the past year. So real estate remains local and hyper-local.

May 11, 2021 06:31 AM
Rainmaker
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Wayne Martin
Wayne M Martin - Chicago, IL
Real Estate Broker - Retired

FSBO sales happen regularly in condominium communities so checking the tax records is essential.

May 11, 2021 04:42 AM
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Bob Crane
Woodland Management Service / Woodland Real Estate, EXP - Stevens Point, WI
Forestland Experts! 715-204-9671

Interesting.

Perhaps our data sources need to start drawing from sources beyond what is sold by agents.

May 10, 2021 07:56 PM