Using the internet to find your new home
When you first start shopping for a home you soon ask, where does this information come from? Is it old? Is it complete? Sometimes you can find, what appears to be, the same house with different information on a different site. And then one day, you are out for a walk and you’re surprised by a sold sign on a home you didn’t know was for sale.
What is going on?
There are many places on the internet to see real estate information. Some sites are well known Real Estate companies. Some sites are aimed at unrepresented sellers. There are also sites that are not Real Estate companies but appear to have many homes that are otherwise listed with the organized real estate industry.
This explanation should help you decide how to measure the veracity of the information you are getting and understand the motivation of the producers of the site. Hopefully, the explanation can help you decide which information and which sources you want to depend on.
The system Realtors use between themselves is a state of the art system created and maintained by a company called CoreLogic, the system is called Matrix. There are hundreds of home sold and listed every week on this system and it handles over 95% of homes sold every year. In just a few hours after the Realtor has put his tape measure away and put a lockbox on a new listing, His fellow Realtors have the info and are sharing it with their homebuyers. In Regina, the MLS system is Matrix.
Every day this info, or parts of it, is uploaded to a national site operated by the Canadian Real Estate Association. Realtor.ca is the aggregate of info from all the divergent local MLS systems from across Canada. This site is comprehensive and offers a degree of contact with the Realtor. This site was created years ago and has evolved. Created because individual Realtors and Brokers that couldn’t possibly marshal the technology as it was then, understood that their organized local associations and MLS systems offered a scale that could.
From here the info is gathered in a common format by individual Real Estate companies and/or third-party website hosting companies that some individual Realtors subscribe to. These companies business model focuses on lifting the burden of technology from the Realtors day to day worries. These third party sites are comprehensive in their marketing reach and offer powerful contact management features to the Realtor. These sites have flexible templates and can be branded to the Realtor's franchise branding. Some are highly customizable and others are simply a digital business card. This site is a third party site Hosted by a company named MyRealPage.
Other sites are an advertising platform which, often, simply reflect a digital version of a printed publication such as a magazine or newspaper.
There are other sites that haven’t any connection to this information stream. These sites are focused on the homeowner (seller)(by owner). Half a dozen sites such as The Property Guys and HelpYousell cater to the “by owner”.Their business model is based on an individual's belief they can save money by finding a buyer for their home without professional help. These sites will play down the benefits of professional help. The success of their business model does not depend on the success or failure of the customer selling a home. They collect their compensation up front. A large percentage of these end up listed and sold by a Realtor in the organized real estate system. A large percentage of those are marketed on both sites at the same time. This often will cause confusion with buyers and questions about the transparency of the homeowners (sellers motives).
Back to the beginning
Even if your home search isn’t urgent and even if you don’t want to bother anyone, there is no reason
the information you are looking at can’t be current and accurate. Get the information from where the information begins. Jeff can create an access point into his MLS system, your own customizable, private Matrix Portal.
Your portal is a repository for information shared between you and Jeff. It is a central location that organizes Auto Searches, reports and selected listings in a way that helps you better manage each of them going forward Your portal also allows you to create and save your own custom searches. it’s a communication tool that through email or listing notes, connects you with Jeff whenever additional property information is required. Jeff can build specific, custom statistical models fashioned around your unique questions and situation. And, finally, because your portal is dynamic you're always viewing live up to the minute data. So if there has been a change in a listing price or, perhaps an updated public remark, you’ll see it in real time.