Do MLS Consumer Web Sites Support REALTORS or Compete with Them?
WAV Group has just published a comprehensive study measuring the effectiveness of multiple listing service (MLS) consumer web sites.
For many years there has been an on-going debate about whether MLS consumer web sites are supportive of REALTORS® or competitive with them. The WAV Group MLS Consumer Web Site Effectiveness Study sought to provide a broader perspective on the issue which included not only an industry-centric perspective, but also the views of consumers – the end users of MLS consumer web sites. The ultimate goal of the study was to help MLSs around the country access broader and more well-informed data about the real benefits and potential pitfalls of MLS consumer web sites before activating or reactivating theirs, according to Marilyn Wilson and Victor Lund of WAV Group.
This is the first study published nationally which polls consumers to ask them about when, how and why they use MLS consumer web sites. Real estate consumers who participated in the study strongly believe MLS consumer web sites are a very valuable tool which helps them identify and buy homes more efficiently. Respondents confirmed that the MLS is in a unique and trusted position to support consumers in their property search efforts. They appreciate the access to listing data.
The study also confirmed that consumers give all of the REALTORS® in the area “credit” for participating in the program, especially when they provided timely responses to property inquiries. Nearly 1/3 of respondents stated the MLS consumer web site helped them find the REALTOR® they ultimately worked with.
In addition to surveying real estate consumers, the study also looks at MLS Consumer web sites from a REALTOR®’s perspective. The study compares and contrasts consumer views of MLS consumer web sites with the perceptions of REALTORS®. In many cases the opinions of REALTOR®’s are VERY different than those of consumers. Consumers believe MLS Consumer web sites are a much more valuable tool than some real estate professionals do.
To review the entire study please click here. Hard copies are also available.
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