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Are users moving away from the MLS?

March 20th, 2015 | by: SM SOLD | Posted in : Real Estate News, Real Estate Tips, Digital Trends

The landscape of Real Estate is constantly changing as we become a more digitalized, tech forward population. The original idea of real estate is easily relatable to the idea of a brick and mortar department store, although, just like the department store, the internet has changed everything.

The way in which consumers make a purchasing decision has become more complex and methodical due to the limitless options and resources now provided to them at the click of a button. Historically, a consumer interested in buying or selling a home would without a doubt in list the help of an agent, turning to them for their industry knowledge and expertise to guide them in the process. Now, we see more and more, users are hitting the books first. Market research has increased tremendously due to the fact the real estate gurus like Zillow and Truilia, Brokerages like Sotheby’s and Coldwell Banker as well as independent tech forward agents have brought the power of search, straight to you.

According to sources the MLS was created for three reasons, “One, to place all the information on homes for sale/sold in a centralized location for brokers to access easily. Two, to create a percentage of sale price payment agreement between brokers and Three, to evaluate NAR and the MLS companies to almost godlike status with monopoly power” ( Creed Smith).

So let us take a step back and determine what the buying/selling process is? The market place is comprised of buyers, looking for homes that fit and meet their needs and sellers, looking to sell their home, and in turn become buyers.  In other words, the most resourceful part of this job it to properly market the home, no longer needing the MLS.

If the home is market properly, disclosing property details comprised of list of what buyers most want and desire as well as outsource through websites and third party giants like Turlia and Zillow, and boom, no more MLS. Sounds easy but there will definitely be some leg work behind it, marketing is about grabbing and obtain the audience attention. You need completing content, jaw-dropping images, even video to stand out and set yourself apart.

For more information, visit  source via Smith, Creed.