Zillow Data: Sellers Lost $1.49B to Dual Agency and $1.36B Off-MLS
Zillow’s analysis shows home sellers lost $1.49B in dual-agent transactions and $1.36B from off-MLS listings from 2023 to 2025, with average losses of $2,165 and $4,230 per sale. California sellers bore the largest dual-agency loss ($533M), while off-MLS penalties hit lower-priced markets and communities of color hardest.
1. Aggregate Losses from Dual-Agency and Off-MLS Listings
Zillow analyzed over 15 million home sales from 2023 to 2025 and found sellers lost a combined $1.49B in same-agent transactions and $1.36B when listings were off the MLS, equating to average losses of $2,165 and $4,230 per home, respectively.
2. Geographic Breakdown of Dual-Agency Losses
California sellers faced the largest losses at $533M, followed by Florida ($217M), New York ($146M) and New Jersey ($115M), highlighting regional variations in dual-agency impacts.
3. Disparities in Off-MLS Penalties
Sellers in lower-price tiers experienced a 2.2% sales penalty off-MLS, and those in majority-people-of-color neighborhoods lost 1.9% of sale value versus 1.1% in majority-white areas.
4. Research Methodology and Sample Criteria
The study excluded non-arms-length and new construction transactions, analyzed listings active at least one day on MLS, and used pre-sale Zestimate benchmarks to isolate the effects of listing strategy on sale price.