Have you ever wondered where real estate websites get their information? This infographic shows how local brokerage sites gather data, compared to national portals like Zillow and Trulia.
The information comes from an independent study conducted by the WAV Group. In the markets analyzed, the study concluded:
*Local real estate brokerage sites display 100% of the agent-listed homes for sale compared to about 80% for the national portal 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 that has already sold; about 36% of listings that appear as active on national portals are no longer for sale.
The source of brokers' advantage is direct access to local real estate databases. In each U.S. city or area, all real estate brokers subscribe to a local association known as a Multiple Listing Service (MLS) to share the listing data collected by their agents with consumers.
Why does this matter? Speed matters in today’s market! Consumers can’t wait a week to see new listings when one in four is now under contract within 14 days of its debut. You can’t afford to miss 20% of the listings when the number of homes for sale is already down 29% since last year.