Real-Estate Listings online sometimes wrong
Real Estate Listings online Sometimes Wrong
With 9 out of 10 house hunters searching Real Estate listings online, according to the National Association of Realtors, buyers are finding 21% of the data hasn’t been updated when changes are made to the price or when the property is sold. These figures are courtesy of the leading real estate listings online website Trulia.com.
Real Estate listings online frequently stale
In a variation of the old “bait and switch“ tactic some real-estate agents keep stale listings on their website to attract leads so they can pitch new properties. This may be on purpose or simple carelessness. Either way it results in wasted time for the potential buyer. Wrong real estate listings online result in a bad beginning to the relationship between real estate agents and potential clients.
“Zestimate” is a real estate listing online to beware of
Whether Zillow‘s “zestimate” feature in which it gives a ball park market value for a home is of any value is questionable to me. The real world examples I have been exposed to have not even come close to the fair market value of the home in question. I don’t know if this is due to stale data or failure to connect recent comparable sales into the system. Either way it can cause a lot of trouble. In particular it can produce unrealistic expectations on the part of the homeowner.
Mistakes and discrepancies of real estate listings online go viral
If mistakes and discrepancies appear on the Multiple Listing Service, the online database relied on by agents, they are disseminated to everyone. There is no industry watchdog. It is the responsibility of individual agents to update the listings. Buyers who use real estate listings online can get discouraged by useless outdated and unreliable information.
Real estate agents should revisit and cull their real estate listings online frequently
- Trulia’s a Killer Site. Is It a Wise Investment?
- How Do Zillow & Trulia Get Listings, and Are They Accurate?
- Ask These Questions Before You List