Do you really want to be the listing with incorrect data?
In the Real Estate Industry we have
this tool called the MLS. The MLS stands for Multiple Listing
Service. All members of the Buffalo Niagara Association of Realtors
have access to this tool. We hope that each member takes time to
review their listings to ensure that they are complete and full of
information - correct information.
What harm can an error on the MLS do?
A lot. Especially if it is your listing and is input incorrectly in the MLS! I have spoken about the importance of good photos
and how they can ruin your chances of someone seeing your home. But
there is even a more important thing to review about your listing.
The data as input into the MLS.
Read Also: Does your Buffalo Area Home for Sale have it's own YouTube video?
The next important aspect of a search
is the criteria used. Buyers place very specific criteria in their
searches in hopes that it will narrow the search down. So what happens
if your Realtor enters the data incorrectly?
- Well the first thing that happens is the potential buyers searching for YOUR home for sale are not finding it.
- There is even a bigger problem. The stats that media receive
regarding the market can be off. And most importantly it can affect
the Comparative Market Report that you receive regarding your home.
Many times I have to go in and make corrections to the listings that I
am comparing.
- The most difficult part of this is now there are so many services
that feed our listings directly from the MLS. So that information is
feed out to all those affiliated sites incorrectly.
Scary that your home could be missed by hundreds of potential Western New York buyers that are in fact looking for your home!
Some Examples of Bad Data on the MLS
A $31 Million Dollar Listing in Buffalo NY!
Imagine being the listing that their
home is listed for $31,000,000 has been sitting on the MLS for days and
nobody noticed? A misplaced zero and the perfect home will never show
up in a search a consumer is looking for homes priced at the $300,000
range. That could throw off the average list price in a community if
not corrected.
Read Also: Five Biggest Real Estate Myths
Wrong community
Allentown is a very popular community that many Buffalonians want to live in. Allentown is a well defined community, in fact it is a historic district.
Every once in awhile a home a street or two away from Allentown shows
up in that MLS area. Again it throws off the comps for the community
and market conditions. Inexperienced agents may end up showing a home
thinking it is in Allentown not knowing the true boundaries of the
community. Can you see a potential problem? Sure the home that
really isn't in Allentown may get a lot of activity, but when buyers
discover it isn't really in Allentown they will be angry.
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