Many customers refer to information that they find on Trulia and Zillow, as it pertains to listings, property values and market reports for a certain area. Customers rely on this information, because, after all, these are national websites that provide a “one stop shop” for real estate information. However, the real estate information on these sites is far from accurate. In order to understand the flaws with Trulia and Zillow, we must understand how they are inaccurate. The biggest reason for these inaccuracies: The national sites don’t have access to a local Multiple Listing Service (MLS).
“The WAV Group, an independent real estate industry research analyst, studied 33 zip codes in 11 U.S. markets to analyze the accuracy of website listing services” (Florida Realtors). This study compared the accuracy in the real estate market to the accuracy of the national sites.
According to the WAV Group, “local real estate brokerage websites give consumers the most complete, accurate and timely information about homes for sale.” What customers have to remember is that this a Realtors specialty, career, and livelihood. Realtor based sites such as suncoasteam.com and http://blog.suncoasteam.com/, provide factual, informative insight and statistics about sales and values in a particular area.
The study conducted by the WAV Group yielded the following results (information was retrieved from an article in Florida Realtors):
- Local real estate brokerage sites display 100 percent of agent-listed homes for sale compared to about 80 percent on the national sites.
- Local real estate brokerage sites show newly listed homes for sale seven to nine days earlier than national portals.
- Local real estate brokerage sites almost never show a home listing as active after it has been sold; about 36 percent of listings that appear as active on national portals are no longer for sale.
- The WAV Group, a national consultancy specializing in real estate technology, conducted the study. Independent analysts verified the study data, record by record.
The study covered a wide range, analyzing over 6,000 listings in 33 zip codes across 11 markets and compared the information against 14 Multiple Listing Services.
According to WAV Group CEO, Victor Lund, “The findings are clear: real estate brokerage websites showed by far the most homes for sale, recognized which homes were no longer for sale, and displayed new listings much earlier.”
The main advantage? Realtors have access to local databases, such as local Multiple Listing Services. Local MLS sites are update every 15 to 30 minutes. National syndicates, like Trulia and Zillow, can take days.
According to the WAV Group, “it took a median of nine days for a listing to appear on Trulia or Zillow after it appeared on a real estate broker’s website.” Nine days. In an industry where things change by the hour, how can customers rely on information that is nine days old? The answer: You can’t.
In order to get the most up to date, current, relevant, and accurate information, using a Realtor is the best option. Realtors can conduct specific searches, provide the most useful information, and represent you in a transaction. Don’t rely on a national website to provide you with “local” information. Use the expertise of a local Realtor to assist with your real estate needs.
If you have interest in property on Florida’s Gulf Coast, please click here, Southwest Florida Real Estate For Sale. For more information about real estate in Southwest Florida, please contact Your Suncoasteam at 941-235-7474 or firstname.lastname@example.org.