SMART Property Searches: MLS vs Online Listing Sites

So you've made the decision to buy and now it's time to start your search.  Like most buyers, you're probably going on the internet to look.  As you'll see, there's probably a lot available.  So here's tips to get you started a targeted approach with an explanation of the difference of some of these sites versus an MLS System.

A targeted approach is narrowing down your search to your specific needs:

1. What you can afford.   I recommend putting this price a bit higher (i.e. $5,000) than your budgeted range.  The reason for this is taking into account negotiation with sellers when making an offer.  By doing this you will open up your selection a bit more.  Remember, it's best to get pre-qualified by a mortgage professional before beginning your search.  A pre-qualification is NOT a mortgage commitment, but gives you an idea of what a bank would approve you for in terms of a mortgage. 
2. Your lifestyle needs. 
   1. Family size now and in the future.  This will allow you to determine the number of bedrooms and living square footage.  In addition, you may want to account for a 'Guest Bedroom' if you are in an area where you know family from out-of-town will come to visit like here in Florida.
   2. Location
      1. Distance to work and schools. 
      2. Recreation.  The things that you like to do such as going to the beach, fishing, shopping, so forth and so on.  This is an area of your search which is a lower priority and more flexible.   

So you have your list and you are ready to search for that perfect property, but there are all these different websites with properties for sale.  Which one is the best?  There are basically three different types:

1. Online classifieds.  These are your sites such as Realtor.com, Zillow, Trulia, Craigslist, Realbird, etc.  Realtor.com is one of the most reliable due to the fact that the information is fed from local MLS systems which are the most comprehensive list of properties for sale and overseen by local Realtor Associations.  The other sites allow individual Realtors and Owners to advertise properties for sale and the selection is dependent upon who uses that system.  Each one obviously offers other unique services such as local information or highlighting property values in the area.
2. Individual Real Estate Brokerage and Realtor Websites.  Most individual Realtors and Brokerages have their own websites and highlight properties for sale.  These are often properties that Realtor and Brokerage have contracted to sell.  Over the last few years these website services have provided the ability for users to "share" listings amongst their websites.  Again, these are limited to who uses that website service. 
3. Local MLS (Multiple Listing Service).  These are databases compiled of properties for sale from Real Estate Brokerages that are members of local Realtor Associations.  These are private databases, but in the past few years internet technologies have Realtors the ability to provide the public the ability to search these databases (see my website for an example of the Flagler County Association of Realtors MLS search).  These are the same databases that Realtor.com draws it's information from.  These databases are often the most comprehensive list of properties since the majority of sellers list their property for sale with a local Realtor.  These systems are also strictly overseen by local Realtor Associations to aid in insuring the most accurate infromation. 

So what are your options:

1. Utilizing the criteria you determined above, visit the website of your choice and put in that criteria to see the properties available for sale.  And start listing the properties that you would like to see.
2. Get listings emailed to you straight from a local MLS system such as the service I provide.  Many buyers have found this to be a great service because the search is set up to  unqiue to your specifications and properties that meet your criteria are emailed directly to you as soon as they come on the market.  Basically, you're getting to see properties for sale even before others have seen them.  When you see one you like, simply add it to your list or contact the agent who set you up to schedule a showing. 

In short, searching for the "perfect home" is best when it is organized and targeted to your specific needs.  When you approach a home search this way you will find that it is more efficient, you'll be more satisfied, and often get a better financial benefit. 

Visit www.PalmCoastHomeShow.com for more information on beautiful Palm Coast & Flagler County as well as the unique services we offer!

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