Completely remodeled golf community home in Dunedin Florida.
Third party real estate websites have become a hub of information where consumers can browse for homes from the comfort of their home. Added exposure for sellers, advertising space for realtors, instant home values and other goodies put everything at the user’s fingertips. While these websites do pick up syndicated data directly from the MLS, often times this information is incorrect. Countless times I have worked with buyers who send me homes in the Tampa area they found online, only to discover that they are already under contract, have sold, or are no longer for sale. Perhaps they were Tampa Bay short sales, or bank owned luxury homes in Clearwater, but the consumer had no way of knowing until they spoke with me. These types of inaccuracies only create confusion and frustration for buyers, sellers and brokers.
What consumers may not know is that these websites are not required to adhere to the strict standards put in place by the multiple listing service, and no harm will come to them from distributing inaccurate information. Likewise in my opinion Zillow’s home “values” should be viewed for entertainment purposes only. Zillow and similar estimator sites may be good at collecting data, but they are too far removed to decipher it correctly and arrive at an accurate assessment. What was the condition of the inside of the home? Was the AC new? The Roof? Is the kitchen brand new or is it 20 years old? Estimator sites have absolutely no way of knowing this information. I have found Zillow to be occasionally accurate in regards to cookie cutter subdivision homes in Tampa, but outside of that bracket they do poorly. Furthermore they don’t take distressed properties into consideration when calculating data. Right now according to Zillow, my home is worth 30 thousand less than its true value, dragged down by a recent short sale.
Many would argue that these sites ultimately serve the consumer and help the Tampa Bay real estate industry as a whole. I agree with the majority of that statement and the majority of my marketing emphasizes reaching buyers through the internet . However I would argue that it’s accurate data that serves the consumer above and beyond anything else. While syndicated websites make it easier for consumers to find homes (or any other product), it’s a huge waste of time for everybody when the information listed is incorrect. With 90% of consumers looking for their future homes online, it’s important to retain the integrity of the MLS while doing so. Ultimately that begs more than one question, are they able to do this, and do they care to? Right now it appears the answer is “no.”
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