An Insider Secret About Your MLS® Listing
In less than a decade, the web has gone from being a novel idea for advertisers to an essential part of our economy and everyday lives. In terms of real estate, the majority of potential buyers now come through the internet and the latest statistics say that roughly 80% of all home buyers start their property search online. In Canada, the mls.ca website operated by the Canadian Real Estate Association on behalf of its 90,000 members, attracts an astounding three million plus unique visitors each month.
When I list a property for sale, I really take time to think about what the public will see on mls.ca and which of the features of my client’s property will attract the most attention. Both the pictures I select and the limited text space available are key. The next step is for me to find out if the choices I’ve made are working or if adjustments are needed.
REALTORS® have access to a very useful report in the “back-end” of the MLS® system that tracks what I think, are valuable statistics on our listings.
As the chart shows, I can see how many people have “hit” upon the listing in their broad search terms and from that, how many people actually clicked through to view the actual property details. If that figure is between 5-10%, I know the choices are good and that we are positioned correctly. Next, I look to make sure that the trends continue each week while the property is for sale because market trends change. Interestingly, we can also see if the viewer has emailed the listing to anyone else (often I’ll bet it is to a partner with a note that says something like, “Honey, look at this one!”)
My clients love that I respect their role as part of the marketing team for their property so of course, I share this data with them. It always leads to some interesting discussions and sometimes to tweaking our positioning in the market.
So now you know, one more Insider Secret.