Over 87% of the home buying public start their search on-line. That is why you see the real estate syndication websites at the top of the local real estate search inquires. Websites like Zillow, Redfin, Homes dot com, Realtor dot com and Trulia dot com to name a few. They have all realized that there is big money to be made by becoming the local sources for real estate news, information, advice, listings, sold properties and valuation estimates.
Their money does not come from the direct representation of buyers or sellers of real estate. It comes from the monetizing of a searcher or inquirers personal and private information. They sell that data to the agents that are paying members of their websites. They are lead generators.
Foreclosures via the Notice of Default(NOD) filings have just entered the picture on Zillow. Now, when you search for real estate, with the lacking inventory as far as foreclosures, regular equity (standard) sales, and short sales that are actually available for sale, they have put the NOD’s to populate the top of the page. Why not, you can see the “potential” auction amount via opening bid. Because that number is potentially lower than even Fair Market Value (FMV), they get you at “Hello”.
REMAX, you have probably heard of them, has started to switch over their lead-street program to new “super fancy” websites for their real estate agents. REMAX does not have to play games with the real estate data. They are the largest real estate brokerage and have a Top Rating with JD power with regard to the service provided for both Sellers and Buyers of real estate.
The new REMAX Websites are clean, concise and give the buyers and sellers of the world exactly what they want. Real Estate data Driven by the Internet Data Exchange agreements between the agent, their REMAX Brokerage and the local Boards of Realtors. Using this type of website to search is akin to looking at a local Real Estate agent’s website that has IDX built into it.
We have been big proponents of IDX because the data is directly from the source. A True real estate syndication website cannot pull that data because there is no broker/agent relationship between them and the local Boards of Realtors that house the data(plus they are not Realtors). So hence, properties you will be viewing could have been sold and they only continue to appear because they get a lot of view. They could also be displaying pre foreclosures that buyers don’t have a prayer in buying.
REMAX Corportate Websites, for their agents, have been available via Homes dot com for some time. However, they have been lacking in the way of having a more cutting edge IDX driven system. That is about to change. We are currently waiting for the transition to be complete with baited breath. The only draw back of the change is our personal page building efforts will not transfer from within our current REMAX Corporate websites, leaving me to have to republish the data myself into the new website.
The addresses of our corporate websites will stay the same and you can see both of our REMAX of Santa Clarita / REMAX of Valencia Websites at the two links below:
Because REMAX maintains its position as the number one recognized real estate brand, this will continue to give the real estate syndication websites a true run for their money.
REMAX will stay on top for now. I never count my eggs before they hatch, unless I’m not going to hatch them 🙂