Is Your MLS Source Reputable?

Posted by Laine Smith on 9/13/13 8:58 AM

Topics: Purchasing A Home First Time Home Buyer Technology

If you’re like the 90 percent of home-shopping consumers, you are using the Internet as your primary source for housing searches. Technology has changed how consumers shop for real estate, but is your source accurate when it comes to listing data?

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First it is important to know the difference in searching tools. A multiple listing service (MLS) site is an enterprise of all real estate agents which shares complete listing data with consumers through brokerage websites. A brokerage employs local real estate agents and belongs to the MLS. A national portal operates exclusively online but only has partial access to listing data.

Compass Mortgage encourages you to check out the difference between the Home Scouting Report®, a brokerage site provided by Home Buyers Marketing II, Inc. and the other national portal sites.

Timeliness

The Home Scouting Report® provides 100 percent of MLS listings, including foreclosures and short sales…all in real time! You can also receive updates, including added photos, price changes and pending sales, on properties you tag as your favorites.

Studies show national portals only contain 79 to 81 percent of those listings. Brokerage sites are faster at updating new and removing old listings, as well. Brokerages show new listings 7 to 9 days faster and up to 36 percent of listings on national portals are actually no longer available.

Accuracy

The Home Scouting Report® features a map that shows the recent sales prices of homes . You can also sign up to receive the Sold Home Alert®, a monthly e-mail update of recent home sales near your primary address, keeping you informed of the property values in your neighborhood.

Be wary of national portals that offer estimated home values. An estimate is not an appraisal. Automated valuation models, used by these sites, work best in areas with a high volume of transactions and are often calculated with incomplete or inaccurate data.

Features & Conveniences

The Home Scouting Report® offers an in-depth, personalized experience for shoppers with features including surrounding community and school district information, social media links to share your favorites with friends and family and the ability to request a showing with your preferred real estate agent or get a pre-approval from your loan officer.

The Home Scouting Report® mobile app also allows users to view details of any listing right from the curb and directly contact your loan officer and real estate agent with any questions. Ask one of our loan officers how to get your free Home Scouting® MLS mobileapp and start shopping with a reputable real estate search tool today!

 

Thinking of purchasing a home in the near future? Our Mortgage 101 Handbook is the ultimate guide for first-time homebuyers.

Download: Mortgage 101 Handbook

 

 

The Home Scouting Report® is a free home finding service provided directly to you as a homebuyer by Home Buyers Marketing II, Inc., a licensed real estate brokerage services company. Our purpose is to assist you in your home buying efforts. The Cooperating Real Estate Agent and Home Buyers Marketing II, Inc. (HBM Il) are cooperating, licensed real estate professionals. The Cooperating Real Estate Agent is neither an agent nor a broker for HBM II, but works cooperatively with HBM II to assist in your home buying efforts. The Preferred Loan Officer’s role is to assist in determining a comfortable home price range for Home Buyers Marketing II, Inc. (HBM II) to use when it is searching for properties within your search criteria. The Preferred Loan Officer is neither an employee of HBM II, nor the provider of the Home Scouting Report® (HSR).

 

 

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