Written by Tammie White, Principal Broker/Owner of Franklin Homes Realty LLC
An announcement came out this morning that Zillow will no longer be syndicating Middle Tennesee home listings from RealTracs, our local Multiple Listing Service to their site.
What does this mean to home sellers? How will this impact the visibility of your listing?
To help you as a seller really understand this, we'd like to explain how your listing information is disseminated to the internet.
When a listing agent enters your information into the MLS, RealTracs in this particular case, that agent has the option of syndicating your information to various websites. The information is usually transmitted from RealTracs to a syndicator of information. In our area, that syndicator is Point2 Agent or ListHub.
These syndicators may receive information from multiple sources about your listing. Since these syndicators don't really know who is the originator of that information, they compile different pieces of data from different sources, very similar to Wikipedia.
When these syndicators then release your listing information to Zillow and Trulia, it may have been corrupted with incorrect listing data. That's why Zillow and Trulia so often have incorrect information on their listings. They don't receive a direct feed from our MLS.
To eliminate bad information from being transmitted, RealTracs has decided to provide limited information to the syndicators. They won't be sending all the data recorded in the MLS. For example, rather than 20 photos, they will transmit four. Rather than all the field categories such as square footage, bedrooms, baths, garage capacity, etc., RealTracs will provide a pared down version. In other words, your listing in its entirety will not appear on Zillow or any other site that uses a third party syndicator to get their listing information. RealTracs hopes by doing this, buyers will receive the most accurate listing information including ways to contact the listing broker directly.
Zillow was outraged by this move. They make hundreds of thousands of dollars from real estate agents who pay for buyer leads. In an effort to keep RealTracs from taking this action, Zillow has terminated their ageement with RealTracs which means Zillow will no longer provide Middle Tennessee home listings on their site. This change is scheduled to take effect the 23rd of this month.
What does all of this mean to you as a seller?
Your listing will no longer appear on Zillow. Now, there may be ways around this. Agents may be able to individually enter their listings to the site. That is yet to be determined. However, this change will not impact your listing from being sent to those brokerages and agent websites that have a direct Internet Data Exchange (IDX) website. Franklin Homes Realty LLC has such a site.
This now means, more than ever, sellers need to be listed with an agent who has a significant internet presence. An agent who has an IDX website ranking in the Google Search Engine Results (SERP) and who uses social media and blogging to promote their listings.
Tammie White, Principal Broker/Owner of Franklin Homes Realty LLC has been writing a real estate blog since 2009. We are one of only a handful of agents using this technology in Middle Tennessee to bring attention to our listings. We get thousands of hits on our website each month, providing sellers with an optimal opportunity to showcase their home. We not only are able to market your property locally, but globally. We work with many buyers out of the area who have found us through our internet presence which gives our sellers a better opportunity to sell their home for top dollar.
When interviewing real estate agents now, a primary question that should be asked:
With Zillow discontinuing to show RealTrac's listings, what are you doing to get my home in front of prospective buyers?
In a recent National Association of REALTORS® survey, buyers who found their home on the internet accounted for the largest group of home sales at 42%. You want your home to be in that category. If an agent responds to the above question by telling you he will syndicate your listing to various websites, then the visibility of your home is limited. Be sure to hire an agent who not only has an internet presence but understands the many facets of this type of marketing.
Zillow pulls plug on RealTracs, what does this mean to Franklin TN home sellers?
It means they should hire Franklin Homes Realty LLC for maximum exposure. When you're ready to sell your Franklin TN home,
Call Franklin Homes Realty LLC at (615) 495-0752!
About Tammie White, Franklin TN REALTOR®
Tammie White is a REALTOR® and Principal Broker/Owner of Franklin Homes Realty LLC in Franklin TN. Tammie works with relocation buyers looking to purchase a home in Franklin and the surrounding Williamson County area. She understands the way buyers search for homes making her an invaluable asset to Franklin home sellers. Tammie's website, www.FranklinHomesRealty.com, has become the premiere search tool for buyers relocating to Franklin TN. She has been writing a real estate blog since 2009 and quoted in various publications including the LA Times, Skype.com, The Tennessean and Williamson Source.