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On today’s episode of Real Estate Finder, Staci Garcia and Jill Glanzer discuss some of their biggest pet peeves that have to do with Real Estate, and more specifically, the listing process on the MLS— Multiple Listing Service. The MLS is a search engine that helps organize properties into searchable criteria. It is extremely useful and contains a lot of data. However, it is only as good as the agents using it. So if a listing agent doesn’t fill out the MLS properly, the system doesn’t work as well. Additionally, some people don’t fully understand how to fill out the options in the listing so the information is wrong and this leads to countless issues, namely that anyone searching for a property for example with one floor, will not find a ranch house or one-level property if the listing agent put anything other than one in the option for floor. That’s just the tiny tip of the iceberg of a much larger problem because it’s not just incorrect information, but agents also skip certain sections probably thinking they aren’t important. If I search for a “Hamdyman” (property need a lot of work) and the agent doesn’t check the box for “Handyman,” then that property will not come up in a search. This gets to be tenuous especially when a buyer wants a very specific property. So, we have investors who want original owner properties but there is no check box for original owner. Between Jill, Matthew and Staci, we can name 10 new criteria search boxes that don’t currently exist in the MLS. To top that off, some real estate agents don’t even list the properties for sale. They are called “pocket listings” and those agents keep them “in their pocket presumably hoping to find their own buyers or potentially choosing which agents to tell that they prefer to work with. So there’s a great deal of frustration that comes with incorrect data, incomplete data, no data and people not even using the MLS. The MLS data is syndicated to all the other search engines like ZILLOW and Realtor.com and so on. So if the original data is wrong, incorrect or missing, it will be wrong, incorrect or missing all across the internet. This leads to the scenario where a buyer is home searching on Zillow thinking they found something that they want and they hopefully tell their agent who looks up the property and says “I’m sorry Buyer, this is for age 55 or over only.” Or, “I’m sorry Buyer, this property is two stories and not just on the second floor.” Then, buyer confidence in the agent might waiver because that agent doesn’t say what the buyer is looking at on their own computer screen. Now it gets tricky because Mr. Buyer starts to seek advice from additional real estate agents. And this is yet another pet peeve of most agents. If one real estate agent is good, is two real estate agents better?? This part of the discussion is one that every agent should listen to and discuss with their buyer right from the start. What are your pet peeves with the MLS, real estate or the actual people involved in the process? Let us know! We hope you enjoy listening as much as we enjoyed talking on the Real Estate Finder Podcast. Our next Boca Raton Championship Wrestling show is March Madhouse at Mizner Park March 12, 2023. Tickets available at www.BocaRatonWrestling.com Shop podcast T-shirts: https://www.prowrestlingtees.com/matthewmania Thanks for joining us on the Real Estate Finder Podcast! Brought to you by: Matthew H. Maschler, Esq. Real Estate Broker (561) 208-3334 Matt@RealEstateFinder.com www.RealEstateFi ...
On today’s episode of Real Estate Finder, Staci Garcia and Jill Glanzer discuss some of their biggest pet peeves that have to do with Real Estate, and more specifically, the listing process on the MLS— Multiple Listing Service.
The MLS is a search engine that helps organize properties into searchable criteria. It is extremely useful and contains a lot of data. However, it is only as good as the agents using it. So if a listing agent doesn’t fill out the MLS properly, the system doesn’t work as well. Additionally, some people don’t fully understand how to fill out the options in the listing so the information is wrong and this leads to countless issues, namely that anyone searching for a property for example with one floor, will not find a ranch house or one-level property if the listing agent put anything other than one in the option for floor.
That’s just the tiny tip of the iceberg of a much larger problem because it’s not just incorrect information, but agents also skip certain sections probably thinking they aren’t important. If I search for a “Hamdyman” (property need a lot of work) and the agent doesn’t check the box for “Handyman,” then that property will not come up in a search.
This gets to be tenuous especially when a buyer wants a very specific property. So, we have investors who want original owner properties but there is no check box for original owner. Between Jill, Matthew and Staci, we can name 10 new criteria search boxes that don’t currently exist in the MLS.
To top that off, some real estate agents don’t even list the properties for sale. They are called “pocket listings” and those agents keep them “in their pocket presumably hoping to find their own buyers or potentially choosing which agents to tell that they prefer to work with.
So there’s a great deal of frustration that comes with incorrect data, incomplete data, no data and people not even using the MLS.
The MLS data is syndicated to all the other search engines like ZILLOW and Realtor.com and so on. So if the original data is wrong, incorrect or missing, it will be wrong, incorrect or missing all across the internet.
This leads to the scenario where a buyer is home searching on Zillow thinking they found something that they want and they hopefully tell their agent who looks up the property and says “I’m sorry Buyer, this is for age 55 or over only.” Or, “I’m sorry Buyer, this property is two stories and not just on the second floor.”
Then, buyer confidence in the agent might waiver because that agent doesn’t say what the buyer is looking at on their own computer screen. Now it gets tricky because Mr. Buyer starts to seek advice from additional real estate agents. And this is yet another pet peeve of most agents.
If one real estate agent is good, is two real estate agents better?? This part of the discussion is one that every agent should listen to and discuss with their buyer right from the start.
What are your pet peeves with the MLS, real estate or the actual people involved in the process? Let us know!
We hope you enjoy listening as much as we enjoyed talking on the Real Estate Finder Podcast.
Our next Boca Raton Championship Wrestling show is March Madhouse at Mizner Park
March 12, 2023. Tickets available at www.BocaRatonWrestling.com
Shop podcast T-shirts: https://www.prowrestlingtees.com/matthewmania
Thanks for joining us on the Real Estate Finder Podcast!
Brought to you by:
Matthew H. Maschler, Esq.
Real Estate Broker
(561) 208-3334
Welcome to the Real Estate Finder Podcast! I'm Matthew Maschler, the Real Estate Finder. And on this show, we will share my passion and knowledge of real estate. I'm a real estate broker with the Signature Real Estate Companies, and we sell Florida real estate here in Palm Beach County - where I live - Broward, Miami, the West Coast, Naples through Sarasota, and Central Florida - where we sell real estate in Orlando and near Disney World. Joining me each episode will be agents from my office and the very best vendors servicing the real estate industry. So, whether you're looking for residential, vacation, or investment properties in Florida; the Real Estate Finder Podcast will provide insider information, examine the latest trends, and reveal some of the tips, tricks, and techniques needed to make smart decisions and get the very best from this and any market! Each episode we will highlight amazing properties, take a deep dive into some recent deals we've done, chat with industry insiders, and explore some of the issues and challenges that come up when buying or selling real estate. So join us as we share stories, raise questions, find answers, and have a whole lot of fun in the fascinating world of Florida real estate!