RISMEDIA, May 1, 2008-According to the company, one-third of REALTOR.com’s 4.4 million property listings -over 1.55 million homes for sale-are updated every 15 minutes, delivering the freshest, most current collection of real estate listings on the Web. This means, according to the company, that agents and brokers with listings on Realtor.com can give their clients the edge in finding their next home by delivering reliable information on new listings, price reductions, expanded descriptions, and new photos.
“In an ever-changing market, people searching stale listings can easily lose their dream homes to competing buyers,” said Rei Mesa, president and COO of Prudential Florida WCI Realty. “Having the freshest listings available gives them a competitive edge, helps them stay current with price changes, bid and price effectively, and negotiate the best deals with clarity and confidence. Move.com and Realtor.com have done a tremendous job increasing the quantity and freshness of their real estate listings.”
According to a June 2007 study by dVOC Insights LLC, home buyers believe the currency of listings to be an important factor in choosing a website to search for a home. Because one in three home buyers look at listings daily, according to the same study, consumer interest in having access to the freshest most frequently updated listings is justified.
At program inception in August 2007, the company says that 37 multiple listing services (MLS) initially pushed fifteen-minute updates to Realtor.com on 500,000 listings. Today, 203 MLS systems now feed Realtor.com updates every fifteen minutes on 1.55 million listings, while another 2 MLS’s provide updates every four hours and 180 MLSs feed 438,000 listings twice daily to Realtor.com. Move, Inc., which operates the official website of the National Association of Realtors, continues to encourage more multiple listing services to provide refreshed feeds to the industry leader four times an hour.
Realtor.com President Errol Samuelson spearheaded the company’s 15-minutes fresh update campaign last year, believing the currency of listings to be critical to consumers especially during challenging real estate markets.
“On average about 13,600 homes are sold in America every day and roughly the same number go up for sale on the nation’s 900 multiple listing services,” Samuelson said. “Tens of thousands more listings have price changes or updated information that could change the property’s appeal to prospective buyers. The most sophisticated tools for searching and analyzing listings are only as good as the freshness of the data. Realtor.com is committed to providing real estate professionals with an edge in providing their prospects and clients with relevant and vital information.”
Samuelson goes on to explain that if consumers are looking at a database of information that’s 24-hours old, they may miss out on opportunities or make very costly decisions.
To help consumers stay up-to-date on listing information and opportunities, Realtor.com keeps buyers informed about listing updates by sending e-mails or RSS alerts when new listings match a consumer’s saved search criteria or when an important change, such as a price adjustment, is made. Later this year, listings on Realtor.com will feature a time stamp to tell consumers exactly when a listing was last updated.
“At Realtor.com, consumers can search with confidence that they’re looking at listings fresher than those on any other site,” Samuelson said. “Realtor.com and Move are committed to leveraging the latest technology to reinforce our position as the trusted leader and most-searched site in real estate.”
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