Zillow Trulia vs. Your Local Realtor MLS
Posted 11-04-2015 at 05:30 PM by shemcreek
Reproduced from the following link
Zillow and Trulia Charleston Real Estate Search
Zillow Trulia Charleston
The difference between Zillow, Trulia and your favorite Local Charleston SC Real Estate Search website, on many levels, is like that of supranational corporate behemoth monsanto and your happy tomato guy at the local farmers market. First thing to write on this subject is a full disclosure: this opinion is written by a local, full-time, licensed realtor that provides several real estate search websites and apps.
Most people are familiar with the national online real estate websites Zillow and Trulia, and probably view them as wonderful sources of information and data gathering tools. They offer slick presentation, copious amounts of detail, and a variety of search options.
The national syndicators aggregate information from a variety of online sources, including anything-goes third-party sites such as Craigslist. While the information is nicely presented under a recognizable, authoritative, name-brand, it is sometimes riddled by outdated, inaccurate information. The sad byproduct of these aggregator’s inability to properly filter and control misleading data is that clients no longer know who or what to believe. This creates a bit of a credibility problem.
Outdated Listings on Zillow
Prospective buyers who’ve seen this or that property for sale on Zillow often get a rude surprise when they find that the property is in escrow, or was recently sold, or was sold literally years earlier. Occasionally there are property addresses that don’t even exist. And when people get the truth they are often skeptical. If it was on Zillow, they wrongly assume, it must be correct.
Search Homes for Sale in Mount Pleasant
Local and By the Rules
Fortunately the public does have access to legitimate listing information. Individual realtors and real estate brokers have access to Multiple Listing Service (MLS) data feeds. The individual agents and local real estate brokers publish those MLS data feeds directly to their websites with the help of IDX and RETS service providers. The information on these individual agent and local brokerage websites is more timely and accurate than that of Zillow or Trulia. More importantly realtors who do not comply with the MLS rules can either be fined or potentially lose their MLS service. There is no such incentive for the listing aggregators like Zillow or Trulia.
In the Charleston area, there are many websites that solely display information published by the local MLS. They are operated by individual, dues-paying members of the Charleston Trident Multiple Listing Service, and are straightforward sources of listings without the noise and clutter of invasive and distracting commercial advertisements.
These local websites are also established by folks that, unlike Zillow and Trulia, have a vested interest in playing by the rules. The Charleston Trident Multiple Listing Service requires that it’s member agents abide by strict standards that are meant to protect the public and the reputations of it’s member realtors. If inaccurate information makes its way onto a listing, the local MLS member has two business days to clear it up or face sanction. To address the potential for outdated listings, local realtors must update the status of their listings with the MLS within 48 hours after an offer is accepted from a potential buyer, and must mark them as either contingent or pending. In addition to state law, realtors must follow a strict set of rules with regard to MLS listings and advertising, and are subject to a variety of sanctions and fines up to $15,000 for violations. There are no such rules or consequences for Zillow, Trulia and Hotpads.com.
As always, caveat emptor.
Zillow and Trulia Charleston Real Estate Search
Zillow Trulia Charleston
The difference between Zillow, Trulia and your favorite Local Charleston SC Real Estate Search website, on many levels, is like that of supranational corporate behemoth monsanto and your happy tomato guy at the local farmers market. First thing to write on this subject is a full disclosure: this opinion is written by a local, full-time, licensed realtor that provides several real estate search websites and apps.
Most people are familiar with the national online real estate websites Zillow and Trulia, and probably view them as wonderful sources of information and data gathering tools. They offer slick presentation, copious amounts of detail, and a variety of search options.
The national syndicators aggregate information from a variety of online sources, including anything-goes third-party sites such as Craigslist. While the information is nicely presented under a recognizable, authoritative, name-brand, it is sometimes riddled by outdated, inaccurate information. The sad byproduct of these aggregator’s inability to properly filter and control misleading data is that clients no longer know who or what to believe. This creates a bit of a credibility problem.
Outdated Listings on Zillow
Prospective buyers who’ve seen this or that property for sale on Zillow often get a rude surprise when they find that the property is in escrow, or was recently sold, or was sold literally years earlier. Occasionally there are property addresses that don’t even exist. And when people get the truth they are often skeptical. If it was on Zillow, they wrongly assume, it must be correct.
Search Homes for Sale in Mount Pleasant
Local and By the Rules
Fortunately the public does have access to legitimate listing information. Individual realtors and real estate brokers have access to Multiple Listing Service (MLS) data feeds. The individual agents and local real estate brokers publish those MLS data feeds directly to their websites with the help of IDX and RETS service providers. The information on these individual agent and local brokerage websites is more timely and accurate than that of Zillow or Trulia. More importantly realtors who do not comply with the MLS rules can either be fined or potentially lose their MLS service. There is no such incentive for the listing aggregators like Zillow or Trulia.
In the Charleston area, there are many websites that solely display information published by the local MLS. They are operated by individual, dues-paying members of the Charleston Trident Multiple Listing Service, and are straightforward sources of listings without the noise and clutter of invasive and distracting commercial advertisements.
These local websites are also established by folks that, unlike Zillow and Trulia, have a vested interest in playing by the rules. The Charleston Trident Multiple Listing Service requires that it’s member agents abide by strict standards that are meant to protect the public and the reputations of it’s member realtors. If inaccurate information makes its way onto a listing, the local MLS member has two business days to clear it up or face sanction. To address the potential for outdated listings, local realtors must update the status of their listings with the MLS within 48 hours after an offer is accepted from a potential buyer, and must mark them as either contingent or pending. In addition to state law, realtors must follow a strict set of rules with regard to MLS listings and advertising, and are subject to a variety of sanctions and fines up to $15,000 for violations. There are no such rules or consequences for Zillow, Trulia and Hotpads.com.
As always, caveat emptor.
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