In today’s real estate market, buyers spend a tremendous amount of time online looking for homes. Even with the use of a realtor, buyers seem to want to stay up late and surf around looking for a great deal. Many times they discover a deal and call their realtor, only to find out that the awesome deal was listed 10 days ago and the home has multiple offers or is already under contract. So, as a buyer, how can you ensure that you see the hot deals on day one?
Well, every realtor has access to either MLS or FMLS. Both systems allow a custom search to be created for any individual client. The system will then run a search every evening and send an email out if any new homes have been entered into the system. For example: Let’s say I have a client that is looking for a five-bedroom home with master on the main, a three-car garage, finished basement and a fenced in backyard. They also want a neighborhood with swim and tennis facility. They have been prequalified through their mortgage lender for $400,000. So I log into FMLS and add them as a customer, along with their email. Then I perform the custom search using the specified criteria and assign that search to the Client Gateway.
The Client Gateway executes this same search every night and sends an email to the buyer and the agent with a list of all homes that fit that client's search criteria. At the top of the list each day are the homes that are titled “Just Listed.” Those are the homes that are brand new on the market that day. Below the “Just Listed” homes will be homes for that search criteria that have had a “Price Change.”
To follow my example above, a home previously listed at $425,000 gets reduced in price to $395,000. Once again, both the client and realtor would see this first thing in the morning and possibly have an early jump on seeing that home. The Gateway also has a feature that allows both the realtor and the buyer to comment on each listing. This is interactive, so the client can see the realtor’s recommendations and the realtor can see the homes the buyer like.
As a realtor, I love to see my buyers engaged in the search process. The Internet has made it easier for buyers to do that and they have a lot of information at their disposal. However, much of the data that they see is dated by a day or two and in some cases that may make all the difference. If you are currently looking for a home, you should have a specific search set up for you. It’s a great way for the buyer and the realtor to see new listings at the same time.
Good luck and good home buying.