The Real Estate Encyclopedia
MLS Consumer Website Effectiveness Study
Category - Real Estate Information Sources - General Real Estate Reports
For many years there has been an on-going debate about whether MLS consumer websites were supportive of REALTORS® or competitive with them.  A comprehensive study of MLS consumer websites using Houston Association of REALTORS® as the subject has recently been conducted to address this issue.  This report will demonstrate conclusive evidence that a MLS consumer website is one of the most valuable tools an MLS can offer its members.  The MLS has technical expertise and advantages to support their members to compete collectively effectively for traffic against even the most well funded listing portals on the Internet today.

This report is unique in that it provides a consumer counterpoint to industry perspectives about MLS consumer websites which can help the industry be more well-informed when making decisions about whether to launch or reactivate a MLS consumer website. Now with concrete study evidence available, this would be an excellent topic for discussion and of great interest to your subscribers. 
 
A complete report is available for your review

Brief:

This study has found that consumers strongly believe MLS consumer websites are, in fact, very valuable tools. They not only help improve the value of the REALTOR®, but help the consumer identify and buy homes more efficiently. In fact, it confirmed that consumers give all of the REALTORS® in the Houston area “credit” for participating in the program, especially when they provided timely responses to property inquiries.

Fact: Nearly half of consumers in the WAV Group MLS Consumer Website Effectiveness Survey have contacted an agent to get more information about a listing.

Consumers View:
  • Narrows the Search Before They Work with Realtor®
  • Helps Consumers Actually Find Realtors®
  • Appreciate the Ability to Connect with Realtors®
  • MLS Websites Best Site for Property Search- Bar None
  • Don’t Feel the MLS Consumer Site is Competitive with the Realtor® sites
 
Realtor® Benefits:

  • Increased Sales
  • Free Leads
  • Advertising Exposure
  • Cost Savings
  • Consumer Acceptance/Appreciation
  • Not Competitive with Realtor® websites
Conclusion:

Fact: Nearly half of consumers in the WAV Group MLS Consumer Website Effectiveness Survey have contacted an agent to get more information about a listing. It is proven in this study that the industry needs to let go of the belief that MLS websites are competitive with their own websites and begin to recognize the power of consolidating marketing efforts to counter the well-funded initiatives in play by third parties which are capturing the top spots in search engines.

 
Category(s)
Real Estate Information Sources - General Real Estate Reports
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