Are All MLS Listings Created Equal?

Earlier this month, I introduced you to our new sponsor for the month, which happens to be my husband, Jeremy, a local Realtor who I think is pretty awesome. :)  Here’s some good information from him that you’ll want to know when you are selling your home.

As a Realtor, I typically spend 1-3 hours each day actively using the Colorado Springs MLS. I also end up seeing a number of those same homes in person – where I get to compare what I saw online to reality.

That experience often leads me to one question – Do homeowners have any idea how their home is being presented in what is unequivocally the single most important marketing piece to get their home sold? Based on what I see every day, many homeowners don’t fully grasp the significance of their agent’s attention to detail when creating a compelling MLS listing. Regardless of what Realtor you choose, there are a few things you need to understand.

Why Does It Matter?

There are two reasons why the way your home is input in the MLS should be of foremost concern to you:

1. The obvious reason; this is where other agents will find your home. It’s your Realtor marketing to all other Realtors.
2. The less obvious reason is that MLS data automatically syndicates to dozens of other websites like Zillow.com, Realtor.com, Trulia.com, etc. These are the websites where potential buyers are spending their time.

In other words, the way your home is input in the MLS is directly responsible for how both agents and home buyers will see it online.

What Should You Look For?

So what separates a good MLS listing from a bad one? There are a lot of factors, so I’ll highlight just a couple of the most important:

1. Pictures – Good pictures are an absolute necessity. Great pictures are preferable. My recommendation is that every listing should have professional wide-angle photography. Even better, a judicious use of HDR technology will really make the photos stand out.

2. Complete Information – Most of the data fields in the MLS are searchable. This means if you leave a key field blank, it will never show up when someone searches using that criteria! A couple optional fields in the Colorado Springs MLS which you can check as an indicator of the overall thoroughness of your agent include the “Above Grade Square Feet” and listing specific schools.

3. Accurate Information – I can’t tell you how often I see inaccurate bedroom or bathroom counts. That is one of the core factors in almost every buyer’s search! Just like missing information, incorrect information eliminates you from searches. Other mistakes include the wrong type of floorplan (e.g. 3-story instead of 2-story), inaccurate HOA info, and even the wrong school district! Insist upon having your agent email you a complete MLS listing as soon as possible so you can double check everything for accuracy.

4. Other Factors – There are a myriad of other details that make a difference as well. Numerous fields visible only to agents will make it easier for the buyer’s agent to prepare an offer. Use of the virtual tour link allows interested buyers or agents to get more information. Clear and concise showing instructions make showings more likely. Properly composed property descriptions will highlight your homes very best selling points in a single brief paragraph. Agent remarks allow for comments you’d like buyer/agents to take note of during a showing. Maximizing the number of photos improves your search ranks on sites like Realtor.com. Etc.

How Are Most Agents Actually Doing?

I did a quick survey yesterday to see how agents were actually doing on the above items. Here is what I found:

* Only 40% of listings have at least 20 pictures.
* Only 5% appear to have used professional photography.
* Only 41% of agents took the time to type in the “above grade square feet.”
* Only 11% utilized the vTour link to send interested parties to additional information.
(Based on 187 New listings input from 2/6/13-2/10/13. Assessment done on 2/11/13.)

There are plenty of good agents in Colorado Springs, but there are also some not-so-good ones. Just make sure you choose wisely!

Jeremy Isaac is a local Realtor, but you probably know him better as Carrie’s husband. Do you have a real estate question you’d like answered? Email Jeremy directly at jeremy@thecircagroup.com.

You can search the Colorado Springs MLS on Jeremy’s website, with no registration required to view homes, prices, addresses, or any other information. If you’re looking to sell your home, be sure to view his marketing portfolio and see how the use of HDR photography, professional video, and more will help your home sell for top dollar!