Information sharing across MLS platforms and housing prices: Evidence from a temporary suspension of an agreement

Ping Cheng, Walter D'Lima, Zhenguo Lin and Liuming Yang

Real Estate Economics, 2025, vol. 53, issue 3, 467-497

Abstract: This study examines a unique case of a suspension of a data‐sharing agreement between two multiple listing services (MLSs) in South Florida, and investigates the impact of such a (negative) shock on the trading outcomes of the MLS platforms. Using property listing data from the two MLSs, we find that sale prices were lower during the data suspension period for transactions involving properties that were in areas where the listing broker may rely on brokers from the other MLS to bring potential buyers. The negative price impact remains stable and consistent under various robustness checks. Furthermore, the results also reveal heterogeneous pricing and liquidity effects due to the data‐sharing suspension‐related shock.

Date: 2025
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https://doi.org/10.1111/1540-6229.12524

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