Yikes!! It’s happened again. Another of my customers has called me to see a property for sale that doesn’t exist. Well, it exists but it is not currently for sale. My customer found it on one of the small aggregaor sites that collects home listings but then never gets the update on when the price has changed or even more important, when it has sold.
With the National Association of Realtors (NAR) stating that better than 9 out of 10 buyers are looking online for homes it is not surprising that they are finding all kinds of online errors like out of date pricing to more misleading statements regarding factual information like touting a partially finished basement as fully redone or a new roof as something done 10 years ago. According to Trulia.com , about 21% of the data that agents individually post online isn’t updated when changes are made to the price or when the property is sold. There is a clear advantage to the lazy, inattentive or unscrupulous agent in leaving sold listings online in that potential buyers will still contact them on those properties and can then be pitched to new properties the agent may have available. A spokesman for the NAR said that such lagging information could be a function of real estate agents simply forgetting to update those listings posted on those smaller websites. Whatever the case may be it is still a waste of time for the buyer.