Inman News published an article last week discussing the recent study commissioned by Redfin to evaluate the accuracy of listing information on major third party real estate search sites like Zillow and Trulia.
The results didn’t shock anyone in the real estate industry who monitors their data , however they may surprise the average person searching for a home online. “The study — performed by the consulting firm WAV Group — concluded that listing data displayed by Zillow and Trulia was not as complete, timely or accurate…” as the information provided by the three brokerage websites they were compared against.
Where were the inaccuracies found? Homes being marketed as active on the third party sites that were actually sold or under contract.
New listings took days longer to appear on the third party sites:
At ERA Central, we have experienced the frustration of these inaccuracies in our recently terminated contract with an un-named popular real estate site. We spent months working with the representatives of this website, pointing out homes that were displaying as available but had actually been sold for months. Inaccurate pricing, duplicate listings, incorrect contact information….you name it – it was probably wrong.
The account reps and engineers were either unwilling or simply unable to get it right, and so we pulled our contract and ended our relationship with them. Why is this so important to a brokerage? Why should it be important to you as a consumer?