Why You Might Need More Than An Online Real Estate Search Site

My main website is very popular and I constantly get buyers that register to use my IDX (or MLS) property search.  Although my IDX search is pretty easy to use, there is a limitation to how many items you can specifically search for.  That goes with most real estate search portals, no matter how good they seem to be.

Many search portals do not keep their database up-to-date.  These are portals that allow agents to post and/or syndicate their listings, and these listings are not coming from an MLS feed.  Because of that, these listings could have been sold, closed, cancelled or expired years ago.  You call the listing agent or another agent you "like" from the portal site and find out that listing is long off the market, and you probably won't visit that site again since you feel it is not accurate and wasted your time.

If you use a website, like mine, that provides listings directly from the MLS (the data feed is usually acquired once a day, sometimes twice or more), you will still find listings that are technically Active Status, but they are truly Contingent on Financing.  That means there is an accepted contract and there are no further showings.  So why is it showing up on sites like mine and many others?

Because as I mentioned, Contingent listings are technically Active, even though they have an accepted offer and do not allow further showings.  There are different types of Contingent listings, and some do allow further showings.  These are Contingent on Sale and Contingent on Close and some Contingent on Other.  But you won't know the difference on your end.  All Contingent listings are bundled together in our MLS, so you'll see those that are still allowing showings and those that are not.

Because of this, you really need to allow your agent to create an automated search for you via their access to the MLS (Multiple Listing Service).  They can leave out the listings that have accepted contracts and do not allow showings, thereby only sending you listings that are active and ready to see.  You don't have to continue creating searches and wasting your time with those listings that have accepted offers on them.

Keep in mind, our MLS requires status to be changed within 72 hours of contract acceptance, so there still might be lag time between when an offer was accepted on a property and when it is changed in the MLS, but the majority of listings will be truly active when you have your agent set you up with an automated search.  In fact, your first search will provide a large amount of inventory and subsequent searches will be New listings, Reactivated/Back on Market listings or listings that had a Price Change.

For example, if you're looking in the southwest suburbs and might be interested in Homer Glen homes, if you're just starting and want to get a feel for the market you can set up your search on the website.  However, if you're ready to start looking for homes, you should fill out the Automated Home Finder Form and have Judy Orr create a specific search using your personal choices and sending you properties that are currently up for sale and ready to view.