Listing Data NOT From The MLS May Have Errors

Reblogger Cheryl Ritchie
Real Estate Agent with RE/MAX Leading Edge www.GoldenResults.com

Check with your Realtor to confirm the accuracy of data. When you go view a home, double check it is still on the market and no sales have just been ratified. The Status seems to be one of the biggest error areas. The stats are interesting in the blog post below. 

Listing data that doesn't come directly from multiple listing service (MLS) data is more likely to have inaccurate price and status information, according to research by Trulia.

Trulia found that third-party syndicators of listing data that didn't come directly from an MLS posted a 21.3 percent error rate regarding the listing's price or status. Trulia says the problem is that real estate professionals submit the data to these syndication sites but often fail to return to the site to update the listing when information changes, which causes a "significant increase of disparate data sources resulting in less accurate data online," according to Trulia.

Meanwhile, third-party re-syndicators of MLS data had a 10.2 percent error rate, direct feeds from brokers posted a 5.6 percent error rate, and direct feeds from franchises had a 3.9 percent error rate, according to Trulia.

Trulia's white paper was based on an analysis of more than 430,000 listings between Feb. 15 and April 15 to uncover discrepancies in listing data.

Source: "Trulia: Higher Error Rate in Non-MLS Sources of Real Estate Listing Data," Inman News (May 9, 2011)  Florida Realtor.org

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Stephanie Leon

Avanti Way Realty
Lic. Realtor

"Others show Houses... I show RESULTS...

Contact me at:
Ph: 786-664-7710
Fax: 305-229-1299
Email: StephanieLeon@avantiway.com

 

 

 

Copyright 2011 Stephanie Leon

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Rainmaker
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Christine Pappas
RE/MAX Results - Willoughby, OH
Northeast Ohio Homes - Ohio RE/MAX REALTOR

I've actually had other agents call me about my listings on Trulia - and I'm always like really?  why would you not look up houses on the MLS.    Scratching my head :)

Jul 03, 2011 08:08 AM #1
Rainmaker
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Cheryl Ritchie
RE/MAX Leading Edge www.GoldenResults.com - Huntingtown, MD
Southern Maryland 301-980-7566

I have not had that happen yet!

Jul 03, 2011 08:10 AM #2
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Rainmaker
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Cheryl Ritchie

Southern Maryland 301-980-7566
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