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How National Real Estate Sites Hurt Charlotte Area Home Buyers

Reblogger
Real Estate Agent with Coldwell Banker Realty 179530

How National Real Estate Sites Hurt Charlotte Area Home Buyers... 90% of home buyers start their home search on the internet these days. And a very big percentage of them start with the national real estate sites like Trulia, Zillow, Homes.com, HomeGan, Realtor.com, etc. But these national real estate sites can actually hurt home buyers because the information they provide isn't always totally current and the agents they refer you to aren't always a buyer's best choice for the type/location of home they are looking for. And home buyers really do need to know that the home value estimates these site provide are often very, very wrong. In a competitive market losing time on such items can mean the difference between actually succeeding in buying a home or losing out to buyers who were quicker with their offers and right on the money with the purchase offer amount. Read on to find out more about how/why national real estate sites can hurt Charlotte area home buyers.

Looking for a Charlotte area home? Contact Carolinas Realty Partners... we can help you find that dream home in the right place for the right price. Don't depend on the national real estate sites for your information.

Original content by The Tonnesen Team 22962

 As the old saying goes, the early bird gets the worm. But if you are a consumer using one of the national real estate sites like Zillow, Trulia, Homes.com, Redfin or Realtor.com to find a home, not only are you missing out on a gourmet breakfast, you are actually paying through the nose to go hungry!  

As agents, we get requests all the time to check out properties that prospective clients have found on one or all of the sites above. They have just spent hours upon hours perusing the web looking for the right deal.  

What the average buyer fails to realize is that these 3rd party national sites only get updated every five to seven days!  

This means that even in a "buyer's market," by the time the best deals are listed on the national sites, they are already under contract. In a competitive seller's market like most areas of the country are now experiencing, even a delay of literally minutes can mean it's too late to put an offer in and cost thousands of dollars. The Las Vegas real estate market has had almost a 5% price increase over the past month. Consumers that wasted a month looking for a home on the national sites during that time can now expect to pay $10k more for a home in the $200k price range. 

So why do buyers use these national real estate sites?  

The name brand recognition that comes from massive billion dollar TV advertising campaigns and expensive search engine marketing that the local sites can't compete with.  

Plus it looks like the national sites have a lot more listings than the local real estate sites, so consumers feel like they are being offered more "choices." But the national sites include the contingent or "under contract" listings as well as those that are actually still available to bid on.  In many cases, under contract properties make up two thirds to almost three quarters of the listings on the national sites! 

Don't get me wrong, if you are just trying to get a general feel for prices in different areas of the country, the national sites make it easy to compare more than one real estate market on the same site. 

But if you are actually serious about shopping online for a home, find an experienced agent with a great web site that is updated at least daily and does not include "contingent" listings on their site. Better yet, have that agent set you up to receive properties through the MLS the exact instant they hit the market so you have a decent shot at a purchase. 

Another hint - don't use an agent that comes recommended as a "local expert" by one of the national sites. That agent that is paying a hefty monthly fee to the national site to be proclaimed a local expert, whether they are or not. In most cases, well established Realtors will NOT have to pay to be called a "local expert."  

Diann Tonnesen
Prudential Americana Group Realtors
Over 30 years of experience helping families call Las Vegas "home!"

Las Vegas Luxury Real Estate
Las Vegas Luxury Condos

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 Nina Hollander, RE/MAX Broker, Realtor

 

 

 

Broker, Realtor, MBA, GRI, ABR, SRES, CDPE, SFR, SPS, CMRS
Carolinas Realty Partners with Coldwell Banker Realty
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Disclaimer:  Nothing in this blog article is to be construed as legal advice, tax advice, or financial advice.  For legal advice see an attorney.   For tax advice or financial advice see a tax attorney, certified public accountant, or other qualified professional.

 

Comments (5)

Debb Janes
Nature As Neighbors - Camas, WA
Put My Love of Nature At Work for You

I get a lot of inquires from people who have outdated information from these large sites. It's frustrating - and don't you love it when they call and offer to sell us a top spot on their site? Annoying. 

May 14, 2013 02:23 AM