Chandler Real Estate Market-Listing on Zillow- How syndication works
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Chandler Real Estate Market-Listing on Zillow- How syndication works

I’m Rick McHone with the EXP Realty and
on my youtube channel we cut through all the hype and tell you the truth about
real estate kind of take a dip in what goes on behind the curtain if you’re a
real estate agent you may find some of this information helpful if you’re not a
real estate agent it really gives you a good idea of what’s going on in the
industry and should help you make better decisions when buying or selling a home
be sure to subscribe to my youtube channel so that you can get weekly
updates so what are we talking about today today we’re going to talk about
data integrity now that sounds really boring but data
integrity is very important for someone who’s listing their home and I’ll show
you why and it’s also kind of a huge discussion and debate among the real
estate agents as to who owns that data the brokerage owns that data the home
owner owns that data why is that even being debated well we’re going to talk a
little bit about how that data gets into the hands of Zillow Trulia
and why people like it why some people don’t like it so first of all let’s take
a look at what the data is that we need for your listing I’ve got some forms
over here that’s called a data input form it’s an input form when you’re
listing your house that real estate agents have to sit down and fill out
every little detail about your home it’s important that you as a seller take a
look at that and make sure that it’s accurate because there’s so much
information it has to go into the Multiple Listing Service when you sell a
home you don’t want that to be wrong I mean there’s major ones like is it
connected to a sewer or is it septic those are easy but there’s a lot of
little intricate details make sure it’s the right elementary school the right
high school do you have a water softener do you have solar panels they leased or
are they owned they’re just you can see on this list there’s just a million
things and so it’s a lot of detail but this detail is being uploaded into the
Multiple Listing Service so when people are looking for your home and they’ve
got specific things that they are looking for
if you’ve listed it correctly they can clearly see
some of the features that they want are in this listing so making sure that
that’s accurate is the responsibility of the real estate agent but the
responsibility of the real estate agent is to get you to double-check that list
and sign off on it on the bottom so that you agree that everything he has listed
on there about your home is accurate now there’s more forms to fill out after
that we believe me we kill a lot of digital trees but I think this one is
one of the most important ones and so this is the one that really tells the
story about your house if there’s any improvements what year did they happen
where the full improvements or partial improvements in other words if you just
replace the toilet in the bathroom that’s a that’s a partial remodel if you
did everything it’s a full remodel and we really look at that as agents we get
in and take a peek at what’s in there now let’s talk a little bit about
syndication syndication is when all of this data so the data is held with the
local Multiple Listing Service so for me it’s held with the Arizona Multiple
Listing Service or we call it armless and the data is held there now the agent
gets to choose whether or not by filling out this form and from filling out that
form we go in and we put it in the MLS we get on our computer and we get in the
MLS and we make sure that everything is on that piece of papers is now in the
system we get to choose if we want your listing the brokers listing to share
that data with outside syndicated sites using a service called list hub choosing
whether or not we want it to be on Zillow or or Trulia now
there are hundreds if not thousands of agents that believe that it’s their data
and they want it they earned it they got your listing they put all the
input in and they want that data kept in house because places like Zillow grabbed
that and they put that out there and then they sell advertising to other real
estate agents are probably going to get that
that sale because of this agents data I’m not one of those guys that’s worried
about that and here’s why if you look at and please real estate agents comment
below and tell me what you think and consumers tell me what you think I think
that the horse is out of the barn Zillow is the most visited website out there in
real estate land I think they get 10 million a month that’s a lot of visitors
it’s actually ranked number 33 of all website traffic so you know there that’s
no small potato there so so in this form I get to check off whether I want that
listening to be on Zillow realtor comm Trulia or list up so I’ve agreed to list
your home let me ask you a question do you want me to leave your home off those
sites why real estate agents are you gonna take a listing tell your clients
that you’re gonna market it and you’re gonna find them buyers oh but by the way
I’m not gonna list it on the real estate site that gets the most visitors because
quite frankly I don’t like them they do things I don’t agree with the big
argument on Zillow is that there’s estimate is way off and it is that you
know they don’t know that you remodeled your kitchen they don’t know that you
you know put new flooring and Zillow just can’t figure that out but these
same real estate is it’s a complaining that Zillow doesn’t have accurate data
if you look at their own personal website I guarantee you that they have a
tab on their website that says find out the value of your home by clicking here
and they have a self-generated idx search tax record search that spits out
probably the same number that Zillow does so you know they’re kind of
complaining about something that they’re also doing so that that bothers a head
count of me now if somebody wants to request a comparative market analysis
that’s a different animal that’s where an agent comes over to your house takes
a look at it looks at your improvements pull the comps the two of you talk they
come up with a value that they think is more accurate versus Zillow where they
fly an airplane over and look down that makes more sense but I guarantee a
lot of real estate agents don’t have that they have the same thing you know I
can get you the value right here they just want your contact information so
what happens if you’re not on Zillow well you’re just not going to show up
when we hold an open house we go into the MLS and we put the open house date
in there and the time it’s going to be December 10th from 11:00 to 3:00 and
then all of these real estate sites that we have agreed through list hub to
syndicate to will now show that you have an open house so you’re all you know
driving around town you can pull up Redfin Zillow Trulia and you’ll see
little dots that tell you where the open houses are and I’m seeing more people
showing up at my open houses because of their phone app through Zillow then they
are my directional signs that I put on the street it varies but I’m going to
say that right now over 50% of my visitors when I ask them how did you
find it Oh Silla said you’re having an open
house today so there’s more amount of that going on so when the agent clicks a
little box that I showed you earlier that said that they’re not going to put
your listing on Zillow they just blew your open house you’re gonna
get people because of signs but half the people that are using the phone app are
not going to show up and it’ll show you that this open house is going to be on
Saturday and you can look on Thursday you can actually plan your open house
visits there’s a lot of that going on now so you know people are really
relying on data so my takeaway as an agent I’d be nuts to check off that box
not to put it on the big hitters it’d be crazy I don’t I know my client wouldn’t
like it I know I’d get less traffic and if you get less traffic you get less
exposure you’re not going to get the price now that battles with Zillow
there’s a lot of them you know we’ll see what happens with that but I think
trying to not release your data that you think that you own as a real estate
brokerage to these main list hubs I think right now is a technical mistake
like I said I’ve been wrong before tell me what you think in the comments
and don’t forget to share this and subscribe to my channel so I can
bring you more content

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