Everyone has seen them! Everyone has even used them for a home search!
But here's the cold hard truth......They are not your best resource.
We all know what I am referring to. 3rd Party Websites!
These websites are some of the top visited real estate websites available. However, the sad truth is that they are not helping you one bit. We receive calls frequently requesting information regarding a property for sale that the buyer saw listed on one of these 3rd Party Websites. In 90% of these cases, the property they are asking about is priced incorrectly, have incorrect property details listed, and many times, not even on the market!
These are called 3rd Party Websites because it is like having a "3rd Wheel" on a date. No one wants them there! They were not invited and they try to play catch up with the conversations because they do not know what is going on.
This is exactly what happens when these sites are getting involved in the real estate market.
When a property is listed as available real estate on the market, it is listed by a licensed real estate agent and submitted to their local Multiple Listing Service (MLS). This is monitored and used by local real estate agents to ensure that accurate and up-to-date information is provided.
Once a listing is entered in the MLS, these 3rd Party Websites pull information from the listings. However, they are not pulled in a timely manner, nor with the up-to-date information. Because these sites are not updated in a timely manner, many times buyers see properties they would like to view, and the property is already under contract.
Also, these listings are pulled over with incorrect, and often missing, information. While on your home search, you want to make sure you are searching and viewing homes efficiently. If you are not looking for a basement and these sites are not pulling the date showing the home includes a basement, this can not be a good use of your time or the time of your real estate agent.
Another problem these sites can cause can be quite detrimental. Many times you will see homes listed as "Pre-Foreclosure". As a buyer, this may make you think that you are getting a property before it even hits the market and that you may get a good deal. However, and this is a BIG however, these homes are not on the market AT ALL! When a homeowner is delinquent on their mortgage payments, these websites pick that information up and list their home as a "Pre-Foreclosure". These transactions never end well. The sellers are usually not interested in selling their home and don't want to hear from a buyer, or agent, about selling.
These are just a few of the reasons why working with a Real Estate Agent is of the utmost importance. It will do nothing but save you time, headache, and money. Buyer Agents are at no cost to you and have so many extra benefits that can only help you throughout your home buying process.
Is it time for you to get Pre-approved for a mortgage?
If you are considering purchasing a home in the near future and are ready to start pre-preparing fo the pre-approval process fill out a pre-approval request form here.
When you are looking to purchase a home it is important to know the steps involved in the buying transaction. Take a look at this article on the 10 Important Steps to Buying A Home
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