Homes in the Mid-Atlantic Sell for a Median Price of 16.98% Higher on the Multiple Listing Service

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Bright MLS Releases On-MLS Home Sales Study

(Rockville, Md.) JULY 28, 2021 — Bright MLS, a leading multiple listing service which supports
over 95,000 real estate professionals from Pennsylvania to Virginia, today announced the
results of a two-year study finding that homes sold on the multiple listing service and promoted
to the entire Bright MLS network of 95,000 real estate professionals sold for more than similar
homes sold off the multiple listing service. The median sales price for homes sold on-MLS was
16.98% higher than homes sold off-MLS.

“We have always known the power of the MLS network and past studies have shown that
homes shared cooperatively on the MLS sold for more,” said Bright MLS President and CEO
Brian Donnellan. “We’re proud to be able to confirm with our extensive data that promoting
homes through our MLS delivers significant value over other methods.”

The study also analyzed the relatively few properties designated in 2020 as “office exclusive”
listings, which are marketed only within one brokerage as “exclusive” listings. The study found
that the majority of those listings were ultimately marketed through the MLS before they
obtained a contract for sale. Homes promoted through Bright MLS from the start went under
contract faster than properties that started as an office exclusive and then were listed and
marketed on the MLS. Comparable homes marketed through the MLS sold for more than those
marketed off-MLS solely through office exclusive arrangements.

“There is a perception that selling outside the multiple listing service, either with an agent or as
a For Sale By Owner (FSBO), can save time and money for the consumer. The valuable findings
in this report conclusively demonstrate the power of cooperation amongst the brokers and
agents who are Bright subscribers,” said Dr. Elliot Eisenberg, Ph.D., a real estate economist and
former Senior Economist for the National Association of Home Builders, who assisted Bright
MLS in conducting the study.

The study analyzed 442,829 records for home sales transactions completed between January
2019 and December 2020 in Delaware, Maryland, New Jersey, Pennsylvania, Virginia, West
Virginia and Washington, D.C.

The study is available for download at http://www.brightmls.com/OnMLSstudy

About Bright MLS

Bright MLS’s real estate service area spans 40,000 square miles throughout the Mid-Atlantic region,
including Delaware, Maryland, New Jersey, Pennsylvania, Virginia, Washington, D.C., and West Virginia.
As a leading multiple listing service (MLS), Bright supports over 95,000 real estate professionals who in
turn serve the more than 20 million homeowners in our footprint. In 2020, Bright’s customers facilitated
$116.3B in real estate transactions through our system. For more information, please visit
www.brightmls.com

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