It's amazing to me how many sellers are still reassured by a prospective listing agent that "I'll put it in the MLS."  So muich more than that is needed - that's just the start.   A FSBO I know hired an out-of-state company to put it in the "out-of-area" section of the far-off state.  That got it to Realtor.com where it's a "featured Home," and they got it to Zillow, etc. with good pictures and details.   However much they may need an agent to negotiate, they're getting good marketing.  

I find more times than not, information contained in Zillow is not accurate.  Not only do I know that information in my MLS is accurate, but if it is not, I have the opportunity to report it quickly and get it fixed.  So - while Zillow may have more bells and whistles, I would rather have accuracy and current information.

The local MLS is one of many tools which we use. Not something magical or mystical. Why is there this perception that there is "secret" information hidden from the public. Our local MLS detail is accessible to the public on the websites of almost every agent who is a member. The only information that is "hidden" are agent comments containing such clandestine information as "cats housed on porch", "Lock box is on side door" and "Call appointment center at 999-555-1212 for showing". Of course all agent information is displayed to direct contact to the agent represented on the website as opposed to the listing agent. But then it is advantageous for the buyer to work with an agent other than the listing agent to insure the best representation of their interests in the transaction.

An informed buyer is much easier to work with so these syndicated and supplimental sites are a plus for me as an agent. Greater exposure for my sellers at little or no cost .

As Missi points out many of these sites have been found to be two weeks or more delinquent in updating the information they provide. The timeliness of updates leaves much to be desired. I have a current listing that took a $20,000 price reduction from $370,000 to $350,000 in January and Zillow still displays the old price. What is the value in more information when it is inaccurate? Frustration is created for the prospective buyer as they become interested in properties already under contract or withdrawn, or to have missed out on a great property because they were unaware of a price reduction. 

I would ask from where Mr. Perry believes that Zillow .com and Realtor.com gather the information which they so liberally display?

While every professional requires good tools. it is the wisdom to know which tools to use and the skill with which those tools are used that makes one an "expert". 

Mary,

  I'm confused about your statement. You need an agent to negotiate, and an agent (out of state or not) to list the property in (Any) Mls in order to get it to Realtor.com and syndicated from there?  If a FSBO is willing to pay an out of state agent to provide limited service in order to get on Realtor.com (by way of a local mls), I'd say it's rather import to a seller to know there house will be listed in the Mls.  Of course a good agent would go on to explain the syndication and their abilities to market the property in that way.

Agreed.  Simply entering a listing into the Mls is not sufficient.

However, it is not exactly pointless or falsley "reassuring".  How do you think Zillow, Realtor, GoogleBase, Craigslist, Trulia, etc. get that data?

Oh, and Ms. Howell, good point regarding accuracy.  I believe Realtor.com is fairly accurate as far as active listings.  But look up your homes value on Zillow! It's not always a buyers market.

The "point" that some may be missing here is "the perception of the public is all that matters, not the perception of the broker or agent" ... isn't it the agent's responsibility to make sure that the information about their listing is current on Zillow or Realtor.com and elsewhere?  Just because you didn't put it there doesn't absolve you of a responsibility that many are ignoring.   And if it isn't up to date "out in the cloud" ... then who, if not the listing agent or the broker, is responsible for doing something about it?

I know exactly where the information is gathered... that's why I wrote this.  The point is others are more than "liberal" with the information, more so than many MLS systems locally.  And where is it that "sold" listing information is available "in the cloud?"

Good article, bad title.

The Greater Las Vegas Association of Realtors' Market Links 5.0 version recently came out with an additional Stat Pro feature that provides a fabulous current market snapshot for agents and their clients.  I made a presentation for our office meeting last week and the response was overwhelmingly positive.  The next morning an agent profusely praised me as her presentation made the difference on a listing appointment.

Our MLS's information is outperforming Zillow, Trulia, and other services in regularly updated information.  Zillow mistakenly advertised a $1,350 monthly rental listing as a unit for sale and projected $6.00 monthly mortgage payment.  My wife and I had to respond accordingly to many inquiries.

Locally, the media, other trade associations, and consultants are working more closely with our association in using MLS information with Builders at a standstill.  Freddie Mac found the information useful in raising its limit from under $300,000 to $400,000.  Hopefully, Fannie Mae will raise its current limit of $417,500 locally to a higher one this year.