Fresher Real Estate Listing Data Important To Consumers

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One-third of REALTOR.com's 4.4 million property listings --over 1.55 million homes for sale-- are updated every 15 minutes. This means real estate professionals with listings on REALTOR.com give their clients the edge by delivering reliable information on new listings, price reductions, expanded descriptions, and new photos.

One-third of REALTOR.com's 4.4 million property listings --over 1.55 million homes for sale-- are updated every 15 minutes. This means real estate professionals with listings on REALTOR.com give their clients the edge by delivering reliable information on new listings, price reductions, expanded descriptions, and new photos.

According to a June 2007 study by eVOC 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.

"In an ever-changing market, people searching stale listings can easily lose their dream homes to competing buyers," says 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 and REALTOR.com have done a tremendous job increasing the quantity and freshness of their real estate listings."

"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. Tens of thousands more listings have price changes or updated information that could change the property's appeal to prospective buyers," said REALTOR.com President, Errol Samuelson. '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.'

At program inception in August 2007, 37 multiple listing services (MLS) initially pushed 15-minute updates to REALTOR.com on 500,000 listings. Today, 203 MLS systems now feed REALTOR.com updates every 15 minutes on 1.55 million listings, while another two MLSs provide updates every four hours and 180 MLSs feed 438,305 listings twice daily to REALTOR.com. Move, Inc., which operates the official Web site 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.

Later this year, listings on REALTOR.com will feature a time stamp to tell consumers exactly when a listing was last updated.

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Julie Reynolds
Move
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