What is an MLS E-mail Service?
There are many ways to research what properties are for sale. Most buyers understand that one of the first steps in purchasing property is finding properties that are for sale. Many states, including Massachusetts, have the vast majority of properties listed on Multiple Listing Services, or an MLS. Most MLS actually got started as book services (before the internet!) where they would publish listings of homes for sale. Fortunately we don't have to do that anymore!
An MLS E-mail Service (what I call an MLS Reader) is the next logical step. The buyer enters some criteria (typically property type, towns, and price range) and the MLS Reader automatically e-mails the buyer all the listings that fit the criteria, and will continue to mail new listings or changed listings.
Why Should Buyers Use an MLS Reader?
Buyers should use an MLS service because it vastly reduces the amount of searching that you need to do on-line. Instead of visiting three or four different websites, wading through advertisements and different usability paradigms, the listings can come right to your e-mail box. Also, they tend to send you the most relevant new listings and recently changed listings. This can help you stay ahead of the pack - and remember, in today's wired world, most people are using an MLS reader, so if you're not - you could be behind the eight ball.
How Can I Sign Up for an MLS E-mail Service?
Many real estate websites offer them. Heisler & Mattson offers a top of the line website right here! Other real estate agencies also offer them, as well as Realtor.com, Trulia, and others.It should be noted: Zillow and Trulia are MOSTLY accurate, but a good MLS reader will be completely accurate. In a fast moving market, Zillow and Trulia (which are often 1-2 days behind on price changes, new listings, and a week or more on closings) are probably not good enough.
Are Zillow and Trulia High Quality MLS E-mailers?
Not in my opinion, No. Not all MLS readers are created equal however. First off, some of them have limited information, instead of the full MLS data, and some have information that is delayed 24 hours or more. As certain segments of the market heat up, 24 hours can be a big delay. Trulia and Realtor.com are sites that do have a delay. They are working on shrinking it, but it's still there. Zillow tends to keep property on their site long after it's been sold - forcing buyers to wade through property that's not really available. Not much fun going to the store, picking out something to buy, and then finding out it's out of stock. Make sure your MLS reader is accurate, allows for 20 pictures or more, links to virtual tours, and full listing details. Integrated maps are also a must at this point in time. Don't settle for less - you'll be doing the legwork if the reader doesn't - so get a quality MLS listing engine.
Problems with Using an MLS E-mail Service
As great as they are, there can be issues with using an MLS E-mail service. First off, many buyers are too restrictive in their criteria. Buyers should be looking in a wide price range, but understanding that the homes near the bottom are going to have more issues than the ones at the top of the price range. Some buyers go the other route - they have so many towns selected that they'll never be able to truly evaluate all the options. Lastly, if you know your local area extremely well, it is helpful. If you don't, you should reach out to an expert to find out more about a particular property - before you get your hopes up! The truth is, as advanced as real estate has become thanks to the internet, you still can't find a house on line (unless you are very lucky, or completely disinterested). You certainly can't price one that way. If I had a nickel for every time someone has told me what a house is worth before being inside it!! Folks, you can't do that. Not even virtual tours will adequately demonstrate floor plan, and pictures tend to hide blemishes - not make them more visible. And I'm still pretty sure you can't hear highway noise from a photograph, or see the next door neighbor's ramshackle old barn. Mistakes get made the other way too - some houses just don't photograph well, and can be great finds for those willing to do the work!
Those aren't the only issues. Although more difficult, you can buy houses that are not currently listed in MLS. So MLS listings aren't the only options. This includes For Sale By Owner properties and homes that used to be listed, but are no longer. These properties typically contain willing sellers, and can be good places to find property in tight markets.
Do Good Things Today!
Matt Heisler
*All information is posted in good faith and is assumed to be reliable, but may rely on third party information sources.
