Zillow

Why IntownElite.com beats Zillow, Trulia, et. al.

When it comes to websites, bigger does not always mean better. That's certainly the case with real estate websites. I think most would agree that, aside for ease-of use, the most important aspect of real estate websites is the accuracy of its data. You want to see all the listings available for sale, and no "stale" listings that are no longer on the market. Nothing is more frustrating to a home buyer than either missing out on available listings, or finding out that awesome listing you're looking at actually sold 2 months ago. Unfortunately, those scenarios are all too common on Zillow, Trulia and similar sites. Meanwhile our website does not suffer the same problems, as I'll explain below.

First I'll explain the classification of real estate websites. Zillow, Trulia and similar sites are considered "aggregators" or "portals." They get their listings via an amalgam of sources, including various listing syndication services, manual entry by agents or home owners. Not every agent sends their listings to them, and there is no regulatory authority presiding over them to ensure timeliness or accuracy. By contrast, IntownElite.com is a brokerage site. As a licensed real estate brokerage, we are members of the local MLS service. As such, we get a direct feed of listings from the MLS, including listings of all other local brokerages (not just our own listings), through an arrangement called IDX, or Internet Data Exchange. This listing feed is updated in nearly real-time, at least every 15 minutes. So, when a new listing goes active in the MLS, it's on our site within minutes. Similarly, when a listing is marked "Contingent" or "Pending" (meaning under contract) or "Sold" in the MLS, that listing is indicated thusly on our website within minutes. And finally, when the listing expires, it is removed from our website within minutes. pending...

Online Home Valuations - Are They Any Good?

When it comes to selling your home, there are many facets to consider. The timing of your move, prepping your home, how to market your home and countless other considerations. One might say, however, that the most important consideration is setting the listing price. In our experience, we have found that many sellers use flawed assumptions when determining their listing price. WIth this post, we begin a series of articles on the topic of pricing your home for sale.

There are many options one can use to help determine the value of a home. One option that has become more popular lately is the so-called "online valuation." There are several websites, (such as Zillow, HouseValues, etc.) which claim the ability to determine the value of your home. So, how do they work, and are they any good?

These online valuation sites fall into two basic categories. The first category of sites are those that use a mathematic algorithm to calculate a value for your property. The problem with this method can be distilled into an acronym well-known in the computer industry: GIGO, or Garbage In, Garbage Out. This means that incorrect or poor quality input will always produce a faulty result. The "garbage in" stems from the data that is used in the calculations. Where do they get this information? Well, typically they use publicly-available information, such as tax records. The problem with that is, tax records are notoriously outdated and inaccurate, especially in Atlanta. 

Another problem is that the homes in Intown Atlanta neighborhoods are not homogeneous. These are not the cookie-cutter neighborhoods of the suburbs, where many houses are virtually identical. It's fairly easy...