The Real Estate Listing Debate
Certainly one of the most important and hotly contested issues about selling real estate property is where it should be listed. Are the big online platforms that many people use to list their homes the right way to go? Or should sellers avoid them and use other methods to get their property out there?
It is a tough question and when it comes to the listing debate there are good arguments to be made on both sides of the issue. The first step in considering which service is right for offering your property starts with the traditional Multiple Listing Service (MLS).
Is MLS Still Worth It?
MLS was the king of all real estate listings, but its power has subsided over the past several years thanks to the introduction of other services such as home advertising platforms. Despite this, MLS is still arguably the main source for realtors to list properties. No matter where the leads come from, MLS will still prevail even over large alternative sources such as Trulia or Zillow.
Of course, the service used will depend on the needs of the seller, the resources available, the overall marketing approach and the priorities of selling the property itself which combine with the current condition of the marketplace.
The Power of Trulia, Realtor.com and Zillow
These sources have greatly added to the listing debate over which really works best for the needs of the property owners. While offering significant advantages, there have been problems with major real estate brokers actually pulling listings from these companies. This is arguably because the more they list with companies like Trulia, the more power they give to these portals which means a lower profit margin for Realtors.
However, such companies do offer a great deal of exposure which is why they are so powerful. For many home owners and investors, this lies at the heart of the listing debate in the battle of exposure vs. profits. The end result for some may be an exclusion from the very sources that help bring them in more potential buyers. Certainly a “Catch-22” for homeowners and investors the more they embrace a source for displaying their properties, the more likely that particular source will take advantage and start cutting into their profits.
The Third Party Issue
Basically, third party sites with social media platforms and other entries into the internet are an important and growing part of the real estate business. There is no doubt about their profit potential in the short term. However, unless real estate agencies can build up their own platforms they will be at the mercy of others.
The great turn in the listing debate may the emphasis on niche and local listing services which offer Realtors a way to promote their properties while avoiding the complications of using a national service. This will mean a little research and work, but the end result could mean never having to deal with significant losses of profits from sales because the local or niche sites are simply too small to charge any sizeable amount. For real estate agents, this just may be the pathway that they seek to grow their business while remaining in more control of their future.