Using Multiple Listing Service (MLS) to your full ability
Looking back over the last 20 years in the real estate industry, I was remembering the "Old days". The excitement as the new book came out every two weeks with the "new" listings that ranged from 4 weeks old to 1 week old. Fax machines and overnight express which allowed us to be within days of our out of state clients versus a week or two depending on the mail. Land lines went to car phones and then to cell phones, until today we can carry our contracts, listing inventory, computers and phones in our top pocket.
2,800 baud modems which morphed to 28.8K, 56K and then DSL and cable. I actually attended the NAR meeting in Boston in the mid 90's as a representative from our Board in Topeka, Kansas when NAR rolled out REALTOR.com and spoke of the future of Real Estate on the internet. Webstreaming, virtual tours, IDX and so many other technological advancements, bring us to where we are today.
The one thing that is as important, if not even more so now, is knowing about listings as they become available, what has sold and for how much, who has reduced their asking price and what is currently available. As REALTORS, we continue to be the stewards of this data, and I believe we have worked exceptionally well together to make the information accessible and embrace the proposition that an informed public is better for our overall business than to try and restrict access to the information. For those of us who were in those conversations over the years of all the changes that were going to destroy the business, everything seems to have worked out pretty well.
I have come to categorize Real Estate websites into 2 broad categories. Those with MLS access (IDX) and those without. The ability for a consumer to come to my website and search the broad Oahu real estate market or to fine tune their search to individual neighborhoods and price ranges is a great service and is just the beginning of all that the MLS is capable of.
Buyers can not only see what is available, but over time, understand the rhythm of new listings as they come on to the market and then sell. They can see how the prices reflect the competitive marketplace and what sells and what doesn't. Customized searches of specific requirements they have beyond price and bedrooms are possible, so that when a hard to find property does become available, they will be alerted to it by email immediately. All these things have made us better as REALTORS and able to honestly provide the best services possible to our clients and to our listings.
Not only are sellers able to utilize the historical data to make informed decisions as to their market values, but they are also able to receive so much more than that with a little effort by themselves or their agents. Email notifications of new listings that are competitive to theirs as they come onto the market keep them informed of their competition in real time. Notification of new pending properties that were competing with theirs let them evaluate why the consumer chose that property over theirs. Potential sellers can use the same notifications to ensure themselves that the market is there and give them confidence to place their homes on the market.
Renters canperch on the doorway of the market, watching and waiting until that home they never thought they'd find miraculously becomes available. Ongoing professional counseling from their REALTOR during the "watch" period can provide them with the guidance to obtain pre approvals from reputable lenders in hand, to enter into month to month leases while they are waiting and help them develop a solid confidence of their understanding of the market. What could be better for everyone than a buyer who is emotionally and technically prepared to initiate a purchase agreement when the perfect opportunity presents itself to them. How many times has the opportunity been lost when by the time preliminary details were taken care of, the home was already under contract by someone else? That is hard on everyone and more often than not, avoidable with quality customer care.
It's not only what is available today, but it is what is going to be on the market tomorrow, next week or next month. I have my own personal dream searches that occasionally send myself an email! Ocean front with a minimum # of bedrooms, fee simple with condition unimportant. Until then, I am content on the boat... but I'm always just an email away from my favorite REALTOR (moi) to tell me that there is a new house on the market I should really take a look at... TODAY, file in hand!
If you'd like to visit my website and explore my MLS access, please visit www.HomesOahuHawaii.com .
If you are interested in the Oahu real estate market, ask me to send you the free report through the form on the side bar and see the trends and activity of our market for yourself.
The Real Estate market in Oahu, Hawaii is a great place to be right now. The Kapolei / Ko Olina area is booming with thousands of homes scheduled to be built and growth is everywhere you look. It is different that it was 2 years ago and 2 years from now it will be a different market again, but informed buyers and sellers will find opportunities in every market and todays is no exception.
"May you live in interesting times" is a quote I've always enjoyed. Indeed we do!
2,800 baud modems which morphed to 28.8K, 56K and then DSL and cable. I actually attended the NAR meeting in Boston in the mid 90's as a representative from our Board in Topeka, Kansas when NAR rolled out REALTOR.com and spoke of the future of Real Estate on the internet. Webstreaming, virtual tours, IDX and so many other technological advancements, bring us to where we are today.
The one thing that is as important, if not even more so now, is knowing about listings as they become available, what has sold and for how much, who has reduced their asking price and what is currently available. As REALTORS, we continue to be the stewards of this data, and I believe we have worked exceptionally well together to make the information accessible and embrace the proposition that an informed public is better for our overall business than to try and restrict access to the information. For those of us who were in those conversations over the years of all the changes that were going to destroy the business, everything seems to have worked out pretty well.
I have come to categorize Real Estate websites into 2 broad categories. Those with MLS access (IDX) and those without. The ability for a consumer to come to my website and search the broad Oahu real estate market or to fine tune their search to individual neighborhoods and price ranges is a great service and is just the beginning of all that the MLS is capable of.
Buyers can not only see what is available, but over time, understand the rhythm of new listings as they come on to the market and then sell. They can see how the prices reflect the competitive marketplace and what sells and what doesn't. Customized searches of specific requirements they have beyond price and bedrooms are possible, so that when a hard to find property does become available, they will be alerted to it by email immediately. All these things have made us better as REALTORS and able to honestly provide the best services possible to our clients and to our listings.
Not only are sellers able to utilize the historical data to make informed decisions as to their market values, but they are also able to receive so much more than that with a little effort by themselves or their agents. Email notifications of new listings that are competitive to theirs as they come onto the market keep them informed of their competition in real time. Notification of new pending properties that were competing with theirs let them evaluate why the consumer chose that property over theirs. Potential sellers can use the same notifications to ensure themselves that the market is there and give them confidence to place their homes on the market.
Renters canperch on the doorway of the market, watching and waiting until that home they never thought they'd find miraculously becomes available. Ongoing professional counseling from their REALTOR during the "watch" period can provide them with the guidance to obtain pre approvals from reputable lenders in hand, to enter into month to month leases while they are waiting and help them develop a solid confidence of their understanding of the market. What could be better for everyone than a buyer who is emotionally and technically prepared to initiate a purchase agreement when the perfect opportunity presents itself to them. How many times has the opportunity been lost when by the time preliminary details were taken care of, the home was already under contract by someone else? That is hard on everyone and more often than not, avoidable with quality customer care.
It's not only what is available today, but it is what is going to be on the market tomorrow, next week or next month. I have my own personal dream searches that occasionally send myself an email! Ocean front with a minimum # of bedrooms, fee simple with condition unimportant. Until then, I am content on the boat... but I'm always just an email away from my favorite REALTOR (moi) to tell me that there is a new house on the market I should really take a look at... TODAY, file in hand!
If you'd like to visit my website and explore my MLS access, please visit www.HomesOahuHawaii.com .
If you are interested in the Oahu real estate market, ask me to send you the free report through the form on the side bar and see the trends and activity of our market for yourself.
The Real Estate market in Oahu, Hawaii is a great place to be right now. The Kapolei / Ko Olina area is booming with thousands of homes scheduled to be built and growth is everywhere you look. It is different that it was 2 years ago and 2 years from now it will be a different market again, but informed buyers and sellers will find opportunities in every market and todays is no exception.
"May you live in interesting times" is a quote I've always enjoyed. Indeed we do!
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