Question Details

LV Home Buyer, Home Buyer in Las Vegas, NV

How to get my newly listed (rmls) house to show on Trulia, Yahoo RE, etc?

Asked by LV Home Buyer, Las Vegas, NV Fri Feb 22, 2008

My realtor says it is 'listed' but we do not find it shown on ANY of the publicly available RE for sale sites !?

We listed it at a price slighlly higher than today's market and believe he is playing the "let the seller sit on the house for a while" game, to get us to lower it to the 'new market' prices. We don't believe that is very ethical but common practice nonetheless.

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Brett, sorry, one more thing.
The typical MLS is normally uploaded to realtor.com. You should go look and see.
Feeds to other RE sites, such as Trulia, Yahoo, etc. is not automatic, nor free in cases.
Sounds like to you need to sit down with your Realtor and clarify how they are marketing your property.
Keith
Web Reference: http://www.glencresteam.com
0 votes Thank Flag Link Sat Feb 23, 2008
Keith Sorem, Real Estate Pro in Glendale, CA
MVP'08
Contact
Brett
Thank you for your question. A couple of answers to your post.
First, if your property is listed with a REALTOR (not all real estate agents are REALTORS), it should be listed in the local MLS. Ask your Realtor for a printout of your listing so you can verify the price, details, etc.

Second, what is your Realtor's marketing plan? What webistes is your listing going to appear? When? When is the broker caravan? When are the public open houses? Ask to see proof of what is being done.
Third, why on earth would you list your home "above market"? You may be unaware, but when you bought your home, you had a budget. You told the Realtor, "look, I cannot afford more then $X, so don't show us homes we cannot affrord", right?

So when a seller prices a home above market, and tells the Realtor "Oh, we need room to negotiate", that is the best kept secret in town. The Realtor is not ALLOWED to tell ANYONE that you will accept less. So you are excluding a lot of buyers by overpricing your home.

Most Realtors have a marketing plan that is designed to expose the property to the market. That exposure usually lasts about 14-21 days. I tell me sellers that if we dod not have at least 10-12 showings, and/or 2 offers in the first 2-3 weeks, we are going to adjust the price.

Lastly it is NOT common practce to "let the seller is on the house". In our area homes that sell within the first thirty days consistently sell closest to list price. In January that was 99.7% of list price. After 120 days it drops to 93.6% of list price. Which is probably AFTER the price has been lowered 5%.

Buyers are looking for value. The buyer first sees the home they purchase with a Realtor 90% of the time. So that means that 90% of the time at least two people have to think your home is worth seeing. The buyer's Realtor, and the buyer. So overpriced homes will not be shown. The average buyer looks at 12 homes before they buy. We can show six homes in one tour. So in two tours, a buyer is probably ready to make their choice.

That means that properly marketed and priced homes will sell in the first 30 days. The longer a home sits, the less the seller will make. And although having my listings on 20 websites is good marketing, I know that my exposure to the local Realtor pool is what will sell my listings. That means pricing it right, having an accessible listing (meaning a lock box), and market rate sales office commission.

Hope this is helpful.
Web Reference: http://www.glencresteam.com
0 votes Thank Flag Link Sat Feb 23, 2008
Keith Sorem, Real Estate Pro in Glendale, CA
MVP'08
Contact
There may be a slight delay. My brokerage company has designed their system and pays a lot of $$ to automatically place our clients' listings on these and other top real estate websites.
0 votes Thank Flag Link Sat Feb 23, 2008
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