Notice Consumer Warning!! Attention Home Buyers!! Attention Home Sellers!! Is the Home You are Looking at ON-LINE Really For Sale???

By
Real Estate Broker/Owner with Utah Realty 5451933-PB00

Notice Consumer Warning!!

Attention Home Buyers!!

Attention Home Sellers!!

 

Is the Home You are Looking at ON-LINE Really For Sale???

 

Did you know the facts about where listings are originated?

Buyers beware of the Large Corporate Sites acting as posers in our real estate market! Posing as experts of value?

Sellers beware over 98% of people looking on these sites are not buyers!

 

  • Fact, an entirely new industry has been created that is based on EXPLOITATION of properties for sale.
  • Fact, this system impedes the information pipeline by not getting you in touch with the actual listing agent. With real honest information about the property.
  • Fact, as a result, all parties involved in the sales process including home sellers, prospective home buyers, real estate agents and brokers are HURT. The public is routinely MISLED.

 

When I and other real estate professionals create a property listing in our local Multiple Listing Service, we are given the choice of authorizing the sharing of that listing. One source is Internet Data Exchange or (IDX) with a member of the Multiple Listing Service organization. Brokers within the same Membership or MLS share, market and display other Brokers listings. This is a controlled through the Local Board of Realtors®. The Brokerage name must be listed on every displayed site.

The other way of sharing. Is known as listing syndication. Due to the poor standards currently in place, the listing then enters the proverbial “BLACK HOLE.” Syndication sites are not part of the local Board of Realtors® and are not bound by any rules WHATSOEVER!     

 

Sold properties or properties not on the market continue to be displayed as active for sale properties. (how would you like people driving by your home you just bought asking if is for sale? Peeking in the windows? Walking around your home?

 

What does that mean to you Home Buyers and Home Owners? Home buyers when on these syndicated sites are looking at homes that are NO LONGER FOR SALE, SOLD, OFF MARKET, AND EVEN NEVER FOR SALE AT ALL!

Only about 66% of the actual “For Sale” listings make it to syndicated sites from our local MLS.

 

Yet syndicators will openly brag about the fact theyhave more properties than anyone else! That may be true …. However they are not really for sale! These syndication sites sale ad space to real estate agents that may or may not have any knowledge about the home right next to them on the webpage. What happens? What does that mean?

 

Home buyers are directed to agents who are UNFAMILIAR with the home, but who have paid for the lead. These agents are then free to promote other homes or areas that they do know well. The result is an epic fail.

 

Buyers miss out on the best INFORMATION, and sellers miss out on valuable showing OPPORTUNITIES!

 

Massive Problem! There are two really big syndication sites most everyone knows there names. …willow and …rulia. Hundreds more! Many are scraping data from Realtor® Sites all over the country.

 

Best Advice! Stick with a local expert with a IDX site that is Approved by the local board or Realtors® and complies the National Association of Realtors® code of ethics and standards of practice. Look for 

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Rainmaker
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Catherine Ulrey
Keller Williams Capital City - Salem, OR
Equestrian and Acreage Property Specialist

Wow, great perspecive on syndicating.  You have pointed out an angle that I had not considered. 

Aug 29, 2014 02:47 AM #1
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Rainmaker
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Marty and Laurie Gale

Utah Realty | 801-205-3500 | UtahRealtyPlace.com
10 Secrets to a Quick Sale!
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