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Should I Trust the Online Listing?

Written by Posted On Monday, 31 December 2018 11:28
should I trust the online listing? should I trust the online listing?

With the onslaught of major real estate companies out there like Zillow, Realtor, Homes, and Trulia, along with all of the major brokerages, it can be difficult to trust any one particular real estate website. In case you didn't know, nearly all of these pull from the local MLS. If a real estate agent submits a listing to their local MLS, most of these websites will pull the information and display it on their own website. But how accurate are these? Do any of these companies validate the validity of the information?

To put it bluntly, no, they don't. They can only pull for what is public information, what homeowners have input, and what agents have input. And… That doesn't always mean it's the truth. So what can homebuyers do?

First of all, is perfectly fine to use these real estate websites. Most really good agents will have their own website with a property search feature and those websites can either gather contacts or capture leads or simply provide their readers with the information they are looking for. These larger sites charge agents for the leads so if you are a buyer and your browsing one of the big name real estate websites out there and you'd like to see a home, chances are they will either put you in touch with a real estate agent that has paid for your information or with the listing agent of the property itself. There are pros and cons to both of these situations.

Related Post: 10 Simple Ways to Make Home Buying More Affordable

If the company put you in touch with the listing agent of the property you are interested in, remember that that's the agent listing and selling the property. Their primary goal is to sell that particular property, not necessarily get you the best home or property for your needs. The listing agent is working for the seller, not the buyer, so when you enlist the help of the listing agent, your priorities, finances, and confidential information is not necessarily protected.

On the other hand, if the real estate website put you in touch with a buyers agent that has paid for your contact information, you will probably be treated fairly as your needs and goals are now this agents needs and goals, but again, this is someone that has paid for your contact information. They may not be aware of the neighborhood values or even the city values as the agent could be from out of the ZIP Code entirely.

Related Post: Don't Make These Mistakes When Buying New Construction

So what are homebuyers to do?

Again, I think it is perfectly fine to use any of these real estate websites out there, but, for accurate information, nothing beats a local, qualified, and experienced real estate agent that's working for you on your side. Also, the so-called "estimates" some of these sites suggest are WAY off base so it can be hard to get an accurate valuation. 

 So, after looking through all the listings, how do you find an agent?

This is something that a lot of agents don't understand. They think that when they are building a website they are selling real estate. But that's not true. Their own personal website helps them sell themselves. They are marketing themselves. Any buyer or seller can contact a myriad of agents for their area but why do we go with one person over another?

Related: What if you're buying land? Does it matter about the listing?

Agents are selling themselves so it's important to do your research and interview several different agents. Just because you've been contacted by someone from the big companies doesn't mean you have to go with them. It's important to do your own research and find someone who is very experienced in your neighborhood. Nothing beats a local experience and these big real estate websites cannot compete with a local experienced real estate agent. They only know what they can find publicly do MLS listings. By talking to a local agent you can find out if the home is next to a mill or factory, if your commute adds 50 minutes on to your route every day, or if you're in the right school district that you desire. Local agents know these things and can help answer questions you might have that the big companies simply don't know.

Related Post: How to say Goodbye to Renting and Hello to Selling

So, can you trust the listing that you find on these websites?

Real estate agents have an obligation to accurately post as much detail and information as they legally know to be true. In the same token, homeowners are supposed to list as much information they know to be accurate and true as possible. That's not to say that agents or homeowners won't fudge on some of the information. They might use the term "cozy" in exchange for extremely small or cramped. They might use the term "lots of potential" for a home that's practically falling down.

This is why nothing beats seeing a home in person or having your agent tour the home in person. They can accurately make a determination on the validity and the integrity of the listing in person. - Read More: Buying a House Without Seeing it First

So, while you can look online till you're blue in the face, nothing beats a local, experienced agent and seeing a property for yourself. If you get nothing out of this article, that's what I would suggest. Don't just trust anyone you find or anyone that simply contact you from one of those big websites. Do your own due diligence and find out the information for yourself.

Additional Resources:

Buyers Fall into 2 Categories: The Price Shopper or the Value Shopper. Which are You?

Buying a Home: What to Know About the Final Walk-through

Why 40% of All Real Estate Listings Expire

How to Buy a Vacation Rental

 

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Tammy Emineth

Former real estate agent turned content marketer for agents and brokers.

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