Home Selling in 48224>Question Details

Vesna, Other/Just Looking in 90068

trulia sold homes vs mls sold comps

Asked by Vesna, 90068 Wed May 7, 2008

how is it that sold homes listed on trulia do not appear on the list of sold homes in mls?
i'm about to put my flip on the mkt. i had a realtor pulling comps in the neighborhood, and acording to mls there is only one sold in last 6 mo.
on trulia there is more than 20 sold in just last 3 mo. is that possible?

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Maureen Francis & Dmitry Koublitsky’s answer
Ask your agent if he or she is pulling from public records. We also use more than one MLS in metro Detroit, though Realcomp is most prominent in the city. It is also possible that Trulia is pulling things like sherriff sales that are not actual sales.
Web Reference: http://mioaklandcounty.com
2 votes Thank Flag Link Wed May 7, 2008
Maureen Fran…, Real Estate Pro in Birmingham, MI
Trulia probably gets the information from the tax rolls; this tells you everthing that has changed ownership in the last 6 - 12 months. In this market most of the changes are going to be foreclosures; the banks will take the home back into their name and the amount showing as paid for the home will actually be what is owed on the property, which more than likely is more than property is worth.
2 votes Thank Flag Link Wed May 7, 2008
MLS through a realtor is the first party info. If its from the MLS the info is just as the agent put it in, no filter no algorithm. Trust MLS info first and not through Zillow or Trulia then look to the county for sales that were done off the MLS, then you should have correct data....sometimes you gotta work for it and when you do you will understand what a realtor has to do to help sellers and buyers.
1 vote Thank Flag Link Thu May 7, 2015
Vesna, Not knowing which MLS your agent is searching we cannot give you the best answer.

At the very bottom left hand column of your Trulia search page, they indicate getting information from Public Records. Maureen is absolutely correct, your agent will also have to search using either City of Detroit Public Records (which may not be accurate) or Realist if they are a Realcomp user. They will be able to sort and identify all sheriff sales from the results. Results will include all activity including those mentioned by others.

I also suggest their results be from the Statistical Comparison data form of public records.

I wish you luck in selling your flip.
Web Reference: http://mi-living.com
1 vote Thank Flag Link Wed May 7, 2008
The manner of transfer is the key. From a Realtor perspective, a property needs to be a true comparable.

For example, if a home was foreclosed by a lender, that is a transfer. Does that carry the same weight as a property listed for sale in the MLS? Probably not. Yet it is a sale, and becomes a comparable.

If a family transfers title, say parents to children, that is probably not included as a "full value transfer".

90% of transactions are conducted through Realtors and the MLS. One of the key things to look at is the length of time since the sale closed. Appraisers normally use three to six months. In a shifting market a Realtor may use sales no more than a month old and take into account Actives and Pendings.

You could also ask your Realtor for a report from a local title company that would include non=MLS transactions.
1 vote Thank Flag Link Wed May 7, 2008
Keith Sorem, Real Estate Pro in Glendale, CA
The MLS is represents homes sold by Realtors. Most Realtor boards fine Realtors who mis-report data to the MLS. The tax records (probably where Trulia gets its data) records all ownership changes, Realtor sold, foreclosures and non-Realtor sales..
1 vote Thank Flag Link Wed May 7, 2008
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