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Revamped realtor.com

Posted by logic (My Page) on
Mon, Oct 4, 10 at 14:38

Recently, realtor.com has updated their website with a new "improved" version. It is a lot like Trulia, where one can search on recent homes sold, price reduced, etc.

However, at least in our area, it is a mess. Homes that are still active and for sale appear as for sale...but many of those same homes appear under one of their new features called "off market".

In addition, the mapping feature on at least a few listings so far has been very inaccurate, placing the listing in an entirely different town. Last but not least, listings that are not new are being branded as new...while not all new listings are listed as such.

REA's and sellers must be tearing their hair out...as it is hard enough to sell a home in most areas, without the MLS being rendered unreliable.

Has anyone else noticed this in any other state, or is it just a NJ problem?


Follow-Up Postings:

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RE: Revamped realtor.com

I can't even give it a test run because it is slow as molasses. Their site was slow before, now it's worse. They need a better tech staff.


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RE: Revamped realtor.com

logic,
Realtor.com is not the MLS... it is a third party vendor that has an IDX relationship with Local MLS's throughout the Country. Sometimes my newly inputted listings take up to 5 days to show up on the site. By that time, the really good deals are gone. If you are a ready, willing and able Buyer, you need the assistance from an agent who can set you up on a search that will email you listings that match your criteria, the day they come on the market.


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RE: Revamped realtor.com

From an end-user perspective, I much prefer the new layout.

That being said, I have had problems with some zip codes and townships. For example, I put in search results for Munson Township in Ohio and it kept giving me results for Chagrin Falls on the map.

In general though I like it better - the old site was getting a little dated. Once again, as an end user, not a realtor.


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RE: Revamped realtor.com

I have been using redfin.com for the last year. They haven't been around that long, so I don't think they cover all states/areas. I know they cover CA and MA. There is no lag in their information with the data from CA. I usually see new listings, updates to existing listings and solds before my Realtor sends me the info.

As with many sites, you will see some glitches right after they make upgrades to their site, but they usually get them resolved in 1-2 days.


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RE: Revamped realtor.com

ncrealestateguy, I am not buying or selling. I use the site (among others) for research purposes. I do know that it is not "THE" MLS..as a the true MLS (such as that which is accessible to the REA's) is not available to the general public.

I do think the new format is a huge improvement. I am just surprised that they did not debug it more thoroughly prior to running it live.

The problem is that depending upon which listing one checks, the information is varied and there is no way to know which site has the correct listing....which does not help the buying or selling process..for anyone.

In addition, it is very difficult to identify foreclosure properties by address without a paid subscription to realtytrac.com...and even then, they don't have complete and/or accurate listings.

redfin does not cover NJ.

Realtor.com has always been very good at keeping things up to date... with the new format, it does not seem as this is something to be counted upon anymore. The GSMLS in NJ is very up to date as well...but GSMLS does not cover the whole Garden state..as it's name implies.

I think if Realtor.com, which most people know and use, could clean up their act with their new format, they could dominate the consumer search market...which would be a boon to REA's..and buyers/sellers alike.

I am surprised that this is apparently such a challenge to execute with reliability and consistency.


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RE: Revamped realtor.com

I like Trulia and Listingbook.

Jane


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RE: Revamped realtor.com

I like Trulia as well...however, homes that have been sold are not removed from the listings promptly.
Listingbook is not yet available in NJ.


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RE: Revamped realtor.com

Logic,
Realtor.com has nothing to do with us Realtors besides then using our data so they can generate business ads. It is not owned, ran, or financed by NAR. They are a third party vendor, just like the rest of them.
Why not get into a relationship with an agent that can set you up on an automated search that will send listings that match your criteria, THE DAY THEY COME ON THEY MARKET? No more missing out on the really great deals that sell w/in hours or days.


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RE: Revamped realtor.com

ncrealestateguy - I think you are missing the point.


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RE: Revamped realtor.com

The point is that the third party sites do not have accurate data, or show data only after a delay.
My only point is, if having the data real time, and accurate, is very important to you, there is a way to have that.


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RE: Revamped realtor.com

The response I recited from Realtor.com mirrors your assessment...that the fault is with the REA's and the local MLS listings. Double entries, no addresses,etc.

That said, I do have a number so "search assists"...they too are erroneous. I will get notifications of "new" listings that have been listed for at least a couple of weeks.


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RE: Revamped realtor.com

Logic,
Believe me when I say that there are no listings in the MLS's that do not have addresses, and there are no double entires. Every required input field for a listing has to be filled out or the MLS will reject it. Same for multiple listings.
Now, not having pictures is a different thing.


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RE: Revamped realtor.com

ncrealestateguy, you are missing the point that the OP is using realtor.com for research, not to buy a house. He isn't looking only for what's new on the market today in a certain price range, which is the only information the automated system would provide.


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RE: Revamped realtor.com

Thanks graywings..you are correct..except I am a "she".

ncrealestateguy, go to this link... a random sample...tell me what you see.

There is one house (MLS ID 5735176) that appears 3 times...with an address, without an address..both with a photo..and a third listing without a photo. There are scores of others without addresses.


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RE: Revamped realtor.com

Logic,
That is a third party vendor issue, not an MLS input error. Realtor.com told you incorrectly...
An MLS will not have 3 separate listings with the same MLS#, each one being slightly different.
I agree with you, it would bother me too. The system that I set people up on everyday enables them to save their favorites, delete the ones that you do not like, it notifies you the day when there are price changes, status changes, you can map out the property, you can get recently comperable solds, you can get demographics of the area... I would be surprised if your agents can not set you up on something like this.


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RE: Revamped realtor.com

Isn't Realtor.com owned by NAR? If you go to the NAR website Realtor.com is listed under "our other sites". Not to mention that at the top of the Realtor.com site it says "official site of the National Association of Realtors".


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RE: Revamped realtor.com

terriks, that is what I thought as well.

NCrealestateguy, you are indeed mistaken about Realtor.com...see below.

And one more time, I have no agent, as I am not buying or selling. Why do you keep ignoring that fact?

From Realtor.com:
Official Site of the National Association of REALTORS�

National Association of REALTORS�
Features

* Simplify Your Life: Use HouseLogic's Expert Tips to Build Your Home's Value
* NAR Represents Consumers
* Why Use an ABR?
* Visit REALTOR� Magazine Online
* Listen to Real Estate Today - NAR's Radio Talk Show

For REALTORS�

* Get value-added offers and savings from REALTOR Benefits� Partners
* Free Resources from Right Tools, Right Now
* Get Free Tips on Homeownership to Build Your Brand With Consumers
* Don't Miss The Next REALTOR� University Webinar Summit - Sept. 28th - 7 Free Webinars
* New Dental Insurance Available to REALTORS� from NAR
* Members can earn 25% more points through My FedEx Rewards

About the NAR

* When Is a Real Estate Agent a REALTOR�?
* State & Local Associations
* Real Estate Specialty Organizations
* Find an Appraiser
* Find a Commercial Property
* NAR Global Alliances


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RE: Revamped realtor.com

I think perhaps that what NCREguy actually means is that each individual MLS organization and Realtor.com are separate entities, and use a reciprocal agreement to share listing information. The information is inputted into MLS systems using whatever system that particular MLS has contracted with. Realtor.com "sweeps" the information onto their site. I imagine that formatting differences between the different systems could create problems on the Realtor.com site.


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RE: Revamped realtor.com

Logic,
Sounds like you are correct... But, as Terriks says, the data is delayed, and sometimes incorrect due to the unreliabilities of IDX feeds.
Can I ask why you spend so much time on researching home sales if you are not a buyer or seller? Just trying to figure out how to improve my own web site.

History of REALTOR.com
In November 1996, the Board of Directors of the National Association of REALTORS� approved an agreement between the REALTORS� Information Network (RIN)�NAR�s wholly-owned subsidiary--and RealSelect, Inc. to take over the operations of NAR�s official Internet site, REALTOR.com. At the time, many business models were considered to finance the development of REALTOR.com. NAR�s Leadership Team decided against using dues dollars or asking for a special assessment of the membership to fund REALTOR.com. While Homestore and its investors have spent hundreds of millions of dollars to build and operate REALTOR.com, no NAR funds or NAR member dues dollars have ever been used for the creation or operation of the site.

Helping REALTORS� Thrive in the Information Age
REALTOR.com was created to be an Internet site that would always be owned and controlled by REALTORS�, and it has helped thousands of REALTORS� thrive. Its success has:

Protected members against business models intended to disintermediate them or force unfriendly tariff models upon the industry; and
Provided a REALTOR�-friendly level playing field, as each member is afforded the same opportunity to decide how they want to use the site in their own Internet marketing strategy.

Key Provisions in the Operating Agreement
The operating agreement negotiated more than eight years ago contained a number of important provisions ensuring NAR�s control over the content and operations of the site. Those provisions remain in full force today and continue to guide the relationship between NAR and Homestore (NASDAQ: HOMS), which owns RealSelect.

1. The National Association of REALTORS� owns and controls REALTOR.com. NAR's subsidiary, RIN, also owns approximately 4% of Homestore's stock, and maintains two seats on the Real Select board, and one seat on the Homestore board. In addition to their fiduciary responsibilities to those entities, the NAR appointees also:

Represent NAR and RIN�s interests in all matters pertaining to the agreement;
Assure compliance with all agreements with RIN and NAR, and report any non-compliance or other concerns to the RIN board and through them, to the NAR Board of Directors; and
Provide quarterly reports to the Leadership Team on all significant Homestore activities.

2. Basic real property ads on REALTOR.com, including the primary photo, are free to REALTORS�.

3. No "For Sale by Owner" properties may ever appear on REALTOR.com.

4. NAR remains the sole owner of the REALTOR.com site and trademark.

5. The use and presentation of property listings remain under the control of NAR. Homestore cannot market any property data or information derived from the data without NAR approval.

6. Advertising on REALTOR.com is strictly controlled. For example, no REALTOR� detailed listing will ever contain a banner from a competitor. Advertisers are limited on the amount of space they can occupy on the site at any given time.

7. NAR must approve changes to the design or text of the REALTOR.com home page.

8. Homestore must conduct all of its real estate related business in Real Select, where NAR has substantial control. Should Homestore ever be acquired by a real estate related entity, RIN has the ability to terminate its agreement for the operation of REALTOR.com.

Homestore operates REALTOR.com as a business. Its separation from NAR allows the company to make decisions that could potentially pose difficult problems for a trade association on business terms. These include the pricing of REALTOR.com products and services to REALTORS� and the development and marketing of new products and services.

Outlook for the Future
Homestore has survived the shake-out among dot com start-up companies and complete turnover in its management team. It has undergone major cost-cutting and restructuring to adjust to changing business realities. Certainly, its relationship with NAR has helped see it through challenging times and REALTOR.com has never lost its lead in the real estate space.

The two organizations have continued their relationship essentially unchanged because they both benefit. Homestore has access to the best brand in real estate and NAR has a vehicle to provide its members a strong presence on the Internet without incurring the cost or risk of operating REALTOR.com itself. Time and trials have tested the formula, and now it�s poised for new growth, profitability and service to REALTORS�, shareholders and consumers alike.


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RE: Revamped realtor.com

ncrealestateguy, I am a consultant, and the research I am performing involves a client project.

That said, IMO, a better system is not only a must...but entirley possible. They just need to hire the right people for design and implementation.


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RE: Revamped realtor.com

Logic,
Real Estate is sooo local, that I don't see how a single standard MLS is feasible.


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RE: Revamped realtor.com

Maybe not standard...but pretty much error free should not be a problem.

Also, I can't fathom why a photo can't be uploaded when the listing is uploaded. That made sense in the days of film...but now? Hardly.

Once again, NAR needs a new web designer.


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RE: Revamped realtor.com

I dunno--I can't load the darn thing anymore so I guess my evaluation would be that I don't much care for the revamp.


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RE: Revamped realtor.com

This is an excellent thread, another "must read". The real estate can improve its attitude, and its work ethic... I have noticed a lot of sloppiness and laziness. And buyers(I hope myself) and sellers can also improve.
This forum helps, helps a lot.


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