There is a significant gap in the depth of information found on listing portals vs. broker websites today. Aside from marketing acumen and marketing investment, the quality of the experience is simply better on many portal sites. A few years ago, portals dominated brokerages with map search. As brokers got a handle on that, portals evolved with the single, Googlesque search bar. Most good broker sites have gotten a handle on that now too. But the bar continues to move in new directions. The biggest gap seems to be the information contained on the listing detail page. I had a chance to review and discuss this gap with some leading brokers this week and take their temperature on how they plan to address the information gap in 2014. The responses were fascinating.
To begin with, there is a legacy rule that is lingering on many MLS IDX rules regarding commingling MLS data with other data sources. Most of the progressive MLSs have stricken that rule. To all extents and purposes the rule only limited brokers from being competitive. With that rule out of the way, brokers are free to augment listing data with the data that consumers yearn for. Here is the top 5 countdown of features brokers plan to integrate into search or the listing detail pages in 2014.
#5 – Drive Time – 21% of Brokers Plan to Integrate Drive Time Search - A new company called INRIX peeked into real estate this fall offering Drive Time data via API. Continue reading