How Does Privy Work? MLS Data for Investors Explained
Privy is a real estate analytics platform that gives investors access to MLS (Multiple Listing Service) data, comparable sales, and deal analysis tools. Unlike platforms that focus on off-market data, Privy specializes in helping investors evaluate on-market opportunities using live MLS feeds. This guide explains exactly how Privy works and who benefits most from it.
What Privy does
Privy provides investors with:
- MLS data access: Real-time listing data from participating MLS boards, without requiring a real estate license
- Comp analysis: Automated comparable sales analysis for calculating ARV (After Repair Value)
- Investment calculators: Built-in calculators for flips, rentals, BRRRR, and wholesale deals
- Alerts: Notifications when properties matching your criteria hit the market
- Neighborhood analysis: Market trends, price per square foot, and investor activity by area
How MLS access works
Normally, only licensed real estate agents have access to MLS data. Privy has data-sharing agreements with multiple MLS boards that allow them to display listing information to non-licensed investors. Coverage varies by market — Privy works in many major metros but not all areas.
When you search an area, Privy shows active listings, pending sales, and recently sold properties. Each listing includes standard MLS details: photos, price, days on market, property specs, and listing agent information.
Comp analysis features
Privy's comp analysis pulls recently sold properties near your subject property and automatically suggests comparable sales based on proximity, size, age, and condition. You can adjust the comp selection manually if the automatic picks are not ideal.
The platform calculates ARV based on your selected comps and factors in price per square foot. This is useful for quick deal screening, though most investors still verify comps with additional sources before making offers. For a deeper dive on comp methodology, see our comp analysis guide.
Investment calculators
Privy includes analysis calculators for:
- Fix and flip: ARV minus repairs minus holding costs minus profit target equals your max offer
- Buy and hold: Rental income projection with cash flow, cap rate, and cash-on-cash return
- BRRRR: Acquisition, rehab, rental income, refinance amount, and cash recovered
- Wholesale: ARV minus repairs minus investor profit minus your assignment fee
Privy pricing
Privy offers a limited free tier and paid plans starting around $49/month. Premium features like unlimited searches, advanced analytics, and team access cost more. Check their website for current pricing as it changes periodically.
For details, see our Privy review.
What Privy does well
- MLS data without a license: Access active and sold listings without being an agent
- Automatic comp analysis: Saves time on initial deal screening
- Market trend data: Neighborhood-level price trends help identify emerging markets
- Clean interface: Easy to navigate for investors who are not data-heavy users
What Privy lacks
- No buyer finding: Cannot identify or contact active investors
- No disposition tools: No deal marketing, buyer list building, or outreach features
- Limited off-market data: Focuses on MLS listings, not distressed or off-market properties
- MLS coverage gaps: Not available in every market
Who should use Privy
Privy is best for investors who analyze on-market deals and need MLS data access without a real estate license. If you primarily evaluate listed properties for flips, rentals, or wholesale assignments, Privy provides useful analysis tools at a reasonable price point.
If your focus is finding buyers for deals you already have, or building a disposition pipeline, explore Privy alternatives designed for the sell side of investing.
Bottom line: Privy is a solid MLS analytics tool for investors focused on deal analysis. It does not help with the disposition side, so wholesalers who need to find buyers will need a separate tool.