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Is the MLS enough? -or- What will advertising a home be like in 2007?

I originally was reading the excellent post;

A Mouthful of Marbles - Putting localism.com to work for you by Mark Flanders

But it brought to mind questions about the linking of the posts in Localism to outside sites.

Not too long ago there was the fascination with "Link Exchanges". And as the evolution of the net has never really stopped for more than any two quarters of any year since about 2000-01 we no longer "exchange" links directly, but is essence we still do only now it's done by blogging. Sites were weighted (?) by the quality of links and now it seems to be the impact of bloggers. Case in point, Google the words "utter failure" - that will show you the power of bloggers.

(I don't have an opinion on what is best, or what works best or even better. I just want to work whatever system to my advantage; I don't hate the game, I play the game. Now that my neutrality has been established I can move onto my questions... :)

Considering the "weight" from the "quality" of link (which has evolved into the blogs) my question is this;

Given the semi-guarded nature of the MLS, how much weight will be given to an entry (listing) when it's places on Localism, then Trulia, then Craigslist, then a FSBO site, then Zillow - where does the MLS come into play? Or does it even really matter.

I guess that's my big question; once the property is on MLS, is that enough anymore? Can you get the MLS number (officially) and then post the home in Localism and (given the relatively slow market we're in) eventually it will make its way to the other aggregating sites - is that going to be enough for the homeowner of the future?

Posted by Christopher Farrell on 01/03/2007 06:07 PM

Comments (7)

mls, blog, blogging, zillo, trulia, fsbo, craigslist, link, links, link exchange, localism, google

7 Comments on Is the MLS enough? -or- What will advertising a home be like in 2007?

JAN

2007

Great questions Christopher. I think the MLS will be come more and more limited to an agent resource. I think clients will have more csuccess with localized searches. Better for those who are active in SEO.

Hey Mark

I actually touched on how reciprocal links used to be hot and why blogging is now:

http://activerain.com/blogsview/31298/The-skinny-on-Blogging

Also, I think you meant "miserable failure" for the Google search.

I'm not sure I really understand your question. Do you mean "weight" in a term that describes the value of a link? Where is the link actually going from those sites? I

If you post a listing on multiple sites like that, it's not going to affect the MLS because the search engines can't crawl the data on MLS.

If you're asking if those kinds of sites will replace the MLS... I don't really think so. It might replace the IDX but even if one of these sites comes out on top as the online place for free real estate listings, it's not going to change the fact that real estate is local in nature, and that being able to search houses on your own does not replace a knowledgeable advocate.

If I've still missed, just please elaborate on the last 2 paragraphs.

David,

Actually, my name is Chris not Mark. It was Mark's post that got me thinking. :)

Also, I found "utter failure" to rank just as high as "miserable failure", but I didn't test it on too many search engines.

To answer your question, yes, I was referring to "weight" as it relates to "value". And I know that it has no relevance to the MLS. It's begs the concern of "the MLS is no longer enough". (Accepting that of course that there will always be printed marketing and flyers and open houses and so on, but we're just talking online advertising for this discussion.)

Which is perhaps a better question; has the MLS ultimately reached it's end, it's maximum relevance? It could be argued that in the not-so-distant future, customers expect agents to put their home on the MLS and then take that same info and add it to Google, Zillow and... well you know the rest.

And who's to say they don't deserve exactly that amount of exposure? Will there be an exception written into new contracts that specifically allows a homeowner to place the online ads themselves or requires agents to do so?

I am not a Realtor. But I envision the expectations of homeowners increasing on a regular basis. Your point on real estate being local in nature is well said, and the same goes for the relationships that are an integral part of this industry. But everyone of us has done and out-of-state transaction. Either a buyer gets you from a reference and they're coming into town or you're referring a seller to an out of town reference. In either case, the homes those people view will almost certainly be seen on non-MLS sites or at the very least your site that has access to the MLS. They simply will not be able to view the homes on the MLS until they get wherever it is they're going (and they meet their Realtor) - so the natural next step is to "find something, lets go see what's out there".

When I moved my family from Houston to Florida in '02, I had our place picked out online and the funds transferred to arrive the day we did. Given the ever-increasing expectations and intelligence of consumers, I fully believe and expect that Realtors will find themselves doing more to advertise their local properties than ever, even in a cumulative sense. Which is to say that I believe that you could add all the efforts of advertising one home throughout the '80s and the '90s together and they both won't equal what will qualify as advertising in the '00s.

Case in point, take your own Computer Engineering degree. How much more difficult was your schooling in your field of choice when you graduated than say twenty years ago? I would wager you knew several times as much in your second year than did the graduates of 1987.

And that difference plays out in virtually every market that exists today.

My apologies, Chris. it's been a long day.

What do you mean utter failure ranks as high as miserable failure? I thought you were talking about the Google bomb done on George Ws page on whitehouse.gov. I should probably just come back and reread everything when I've had rest.

I understand now, and you make good points.

I was thinking you were talking about the year 2007 only. Eventually I believe the internet could replace the MLS, just like its going to replace broadcast television, etc. It is quickly becoming an "on-demand" world.

The one thing however that I don't think could be replaced is the "security" of the MLS. I know when I look at a listing on the MLS, that the data represented is correct and up to date. If it isn't that Realtor could be fined! In a public venue like one of the sites you mentioned, the level of quality will most certianly have to diminish. How will you know that house listed is really for sale? How do you know someone is not playing a joke on someone. Think about how it will attract the scammers, just like eBay and craigslist has. Even though these places are succesful, a lot of things can go wrong when its a free for all to the public. I have a feeling that due this, there were always be people that don't want to deal with a "possible" hassle.

David,

When I mentioned the "failure" issue, I counted how many sites "blogs" had that phrase in it's text and then tried the same thing with the other "failure". But I only used Google and from there I got almost the exact same number of references - which helps when you're designing ad words to help your site 'ping'.

But you're right on the security. Right now, Trulia only allows agents to list houses and Google is headed there (if they ever do it) and Zillow make you build a page for it. Which I think displays a HUGE challenge to the Realtor; what do you do when your customer asks, "Hey, why am I not on Zillow, why am I not on Trulia? I paying you 6% and.... so on and so on.

The reason say this pretty simple, ultimately someone will pull away from the pack. And that someone is gonna make a deal with NAR (which some are doing now on a smaller level).

And I don't think it will work out like the Charlie Daniel's song. :)

Enjoy,

ooh, pineapple - haven't had that one in a while.! :)

JAN

2007

I guess it wouldn't hurt to go ahead and list in on them, if they didn't do it themselves. I'm sure someone is developing an application that will take the listing info and post it on zillow, google, etc. with one submission.

JAN

2007

Point2Agent already syndicates listings, with the listing broker's permission, to a wide variety of websites. I do the same for my clients.

Michael Trust

www.MichaelTrustRealty.com

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