The Power of the MLS
A cooperative real estate marketplace built on reliable information, innovative solutions, and REALTOR® expertise.
Independent Study Confirms Benefits of MLS
In 2022, NNRMLS commissioned an Independent Study to quantify the benefits of the MLS in Northern Nevada. The Study was updated in 2024 to include the past year’s transaction data, and the findings confirmed the benefits of the open and transparent housing marketplace facilitated by REALTORS® and the Northern Nevada Regional MLS.
Powerful Benefits for Sellers
Sellers who list with an MLS member can have peace of mind, knowing their home will be placed in front of every real estate professional currently working with active buyers. This is more powerful than any marketing or advertising.
17% Higher Sold Price for On-MLS vs. Off-MLS
Sellers who listed their properties with a REALTOR® on the Northern Nevada Regional Multiple Listing Service saw that listing on the marketplace powered by NNRMLS Members yielded, on average, a 17% premium in sales price over similar properties sold off-MLS independent of other variables.
Market Transparency for Buyers
Buyers working with an MLS member, know they will always have access to the most current and reliable picture of available properties. And they can search for properties with confidence, knowing that MLS-members who represent sellers will work with you in the spirit of Clear Cooperation.
87% of All Homes Sold In Northern Nevada Were Listed On NNRMLS
The Study showed that NNRMLS brought unprecedented transparency to the Northern Nevada housing market. 87% of all properties sold in Northern Nevada market were visible to REALTORS® and their clients. This translated to over 93,000 listings over the nine-year study period.
In 2024, NNRMLS continued its partnership with Naniik, which began in 2022, to study the impact on home sales prices for properties listed on the multiple listing service versus off-MLS in Northern Nevada. This resulted in an updated Sales Price Impact Study, showing the continued strength and benefits of listing and buying with a REALTOR® on the MLS.
The updated study analyzed transaction data from six Northern Nevada counties between 2015 and 2023 (9 years), controlling for property and neighborhood characteristics.
Naniik performed the study on home and neighborhood characteristics that impact the sales price. The analysis considered key variables, including the year sold, square footage, lot size, NNRMLS listing indicator (on-MLS v. off-MLS), median income of the zip code, and property type.
Analysis showed a consistent premium associated with listing on the NNRMLS over the 9-year period. Listing on the NNRMLS yielded a clear 17% premium in sales price over properties not listed, independent of other variables. With the updated data, this translates to an average sales price increase of $59,000 — an increase over the $55,250 in the previous study.
Disclaimer: It is important to note that while these findings are compelling, they should not be viewed as a guarantee of similar results in the future.
- Naniik LLC is a data services and analytics company which helps organizations harness internal and external data to extract insights and inform decisions.
- The Naniik team is comprised of technology professionals with over 20 years of combined experience in business intelligence, data engineering and analytics, and financial analysis.
- Learn more about Naniik here.
- Founded in 2003, NNRMLS is the region’s largest member-based Multiple Listing Service, serving REALTORS® from more than six counties.
- NNRMLS is dedicated to serving its approximately 4,000 brokers, agents, and appraisers by offering innovative tools and meaningful business solutions.
- The members of NNRMLS are your trusted source of real estate expertise
- The NNRMLS vision is to foster a trusted and cooperative real estate marketplace by delivering industry-leading information, expertise, and solutions.
