Credibility of Non MLS Listed House Sales Price

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Submitted by Happs on September 10, 2016 - 10:38pm

A real estate agent's sign with a sold placard was recently placed in the front yard of a house in my neighborhood along with an attachment box filled with the agent's flyers that listed sales in the neighborhood. The agent's sign was not placed in the front yard during the time the house was for sale, only after the house sold, which I found odd. The flyer listed the sales price of the house and the very short number days on the market, but this house was never on the MLS. The sales price of this house is unusually high compared to recent sales of comparable houses that were on the MLS for many days and to current listings that are on the MLS. How credible is the sales price information given by the seller's agent of houses that were sold outside of the MLS? Do appraisers and other real estate agents use houses that sold outside of the MLS as comparable sales or are they excluded because they were not exposed to the open market? What do you all make of a house that sold outside of the MLS for an unusually high price?