Trulia Releases The Inside Scoop on the Real Estate Industry’s Online Listing Quality
News from Trulia
Submitted by: RE Technology
The need for this analysis arose after we surveyed approximately 1000 consumers and real estate professionals about the online home search experience. Both groups agreed that their primary concern with online real estate is the quality of the listings. Most complaints about online listings revolved around the status of listings being outdated (e.g. pending) or the price often being incorrect.
Trulia compared more than 1.2 million listings received from various sources against MLS Data, and found more than 69 percent of the errors stemmed from 3rd party syndicators of non-MLS data. All other industry feeds when combined only accounted for 31% of the listing errors Trulia receives in its feeds.
Out of more than 120k listing inaccuracies, we found the following: 51 percent contained price errors, 41 percent contained status errors and 8% contained both. Through our Direct Reference program, Trulia has been able to identify these errors and notify brokers, agents and MLS’s about the data sources they should consider correcting. Trulia Direct Reference provides the ability to identify where the errors are originating and then the information to correct them at the source.
The results from this study show that MLS’s have the potential to significantly reduce the proliferation of erroneous listing data when they syndicate listings directly on behalf of all their members.
If you would like to learn more about how you can participate in Trulia Direct Reference and directly syndicate your listings to Trulia, please contact us at [email protected]
(To download a PDF copy of this report, click here.)