The Accuracy of Real Estate Websites

Local is Best Using a local brokerage site means you'll see FOR SALE 20%+ more homes for sale, and new listings a week faster. Local Brokerage Sites vs. National Portals Such as Redfin, Windermere Such as Zillow and Trulia and Long & Foster Brokerages employ real estate agents who list homes for sale, accessing agent-only databases with all the listings. Brokerages' Portals do not employ agents, often relying on second-hand sources for listings. Portals' customers are real estate agents. customers are consumers. Local Brokerages Have 20%+ More Listings Local Brokerage Sites National Portals FOR SALE FOR SALE FOR SALE FOR SALE 20% really for sale, but missing! FOR SALE FOR SALE FOR SALE FOR SALE FOR SALE FOR SALE FOR SALE FOR SALE FOR SALE FOR SALE R SALE FOR SALE FOR SALE FOR SALE FOR SALE FOR SALE FOR SALE FOR SALE FOR SALE FOR SALE FOR SALE SALE FOR SALE FOR SALE FOR SALE FOR SALE FOR SALE FOR SALE FOR SALE FOR SALE FOR SALE FOR SALE FOR SALE FOR SALE FOR SALE SOLD SOLD SOLD SOLD SOLD FOR SALE FOR SALE FOR SALE FOR SALE FOR SALE FOR SALE SOLD SOLD SOLD SOLD SOLD SOLD 36% appear for sale, but really are sold. FOR SALE R SALE FOR SALE FOR SALE Local Brokerage Sites Are More Complete, Timely and Accurate Because of Direct Access to the MLS How local brokerages get listings How national portals get listings All agents send their homes for sale to the MLS, a local association of real estate brokerages working together to share data on homes for sale. Some agents, but not all, also send their homes for sale to national portals for more exposure. How they send them varies. All Agents Some Agents Agents have many options for sending listings... Option #1 Option #2 Option #3 Option #4 MLS Share via the Post Directly Use third Share via their local MLS (in some cities) party tools brokerage feed MLS Local MLS 15-30 minutes later Median: 7-9 days later FOR SALE FOR SALE Local Brokerage Site National Portal All the homes for sale in one market Some of the homes for sale in all markets Result: Local brokerage sites have 20%+ more listings and get them 7-9 days faster than the national portals. Why Does all this Matter? Because the Good Ones Go Fast! In today's competitive market, seeing all the homes for sale, right away gives you a crucial competitive advantage. You Need To You're Not Alone Move Fast You Need To See 97% of active home-buyers say seeing all the agent-listed homes for sale is important or More than 1 in 4 listings Everything are under contract in less than two weeks. The number of homes for sale very important. has decreased by nearly a third in the last year. FOR SALE Definitions MLS: A cooperative of all the real estate agents who list properties in an area. The MLS shows complete listing data with consumers through brokerage websites. Brokerage: A business like Redfin, Windermere or Long & Foster that employs local real estate agents and belongs to the MLS. A local broker shows all the homes for sale. National Portal National Portal: A business like Zillow or Trulia that operates exclusively online, showing consumers a broad range of real estate data but with only partial access to all the homes for sale in an area. http://waves.wavgroup.com/2012/10/03/real-estate-website-accuracy