The internet has brought a great deal of opportunity to buyers of real estate. It’s probably the single greatest innovation for the real estate buyer other than the MLS, which is exclusive to members of the professional real estate community.
However, there is so much information that it’s difficult to sift it out and find what actually is relevant to you. Here are some pointers in doing that, so that you can know how to search, either for your “dream property,” or a good investment, or even find your own home’s value.
1. Most sites duplicate what’s either on the MLS or on one of the commercial sites, like CoStar or Loopnet. So if you have access to one of those, you are better off than if you have access to a dozen others. Since you are a client, and not a real estate professional (we pay for the privilege of using the MLS, etc.), you will be unable to access these sites directly. However, there are several legitimate ways to access information on property for sale without being an MLS member.
1. Realtor.com: this is the best site for residential real estate, because almost all properties for sale through an agent are listed here. The advantage of this site is that it’s updated by the various MLS programs for the cities it covers, and so it’s real-time, and very nearly the same as your agent will see. I like to encourage clients to use this site, because I sometimes miss things that they will see, and then they bring them to my attention. In addition, this site updates in real-time, so you won’t get excited about a property that’s already sold (that’s happened to clients of mine quite a bit–not all the real estate sites update in real-time)
2. Google: Google actually has a list of real estate in its mapping function, and you can see what’s available in a specific area. However, google real estate takes its information from secondary sources (particular real estate offices, etc.), and so is not as up to date as Realtor.com
3. Craigslist for your city. This site will include a mix of properties for sale by their owners, and also listings that agents post there. Craigslist’s greatest value is for you to find properties that are not in any MLS. Often, sellers will try to sell their properties themselves. I STRONGLY recommend that you contact your agent when you find one of these, and let him/her work with this person. In most cases, everything’s fine, but sometimes, these are properties that are overpriced, or have something wrong with them.
4. Homepath.com: This is “FANNIE MAE’s” website, and properties ARE posted there before they go into the MLS. These will all be foreclosed properties, and sometimes in very rough condition.
5. Homesteps.com: This is “FREDDIE MAC’s” site, and properties ARE posted there before they go into the MLS. These will all be foreclosed properties, and sometimes in very rough condition.
6. hud.gov/homes/homesforsale.cfm: FHA/HUD homes for sale, and other info.
All of these agencies will work with your agent to help you purchase your home or other property.
If you want some personalized help, you may contact me using the information on my contact page (phone, email, text), and let me know how I can help. I am always available to answer questions. I’m in California, so if you are in another state, I may not be able to give more than generalized help. If you are already working with an agent, and want to continue to do so, I encourage you to remain loyal to your agent. She’s probably invested a great deal of time in you, and most of the time deserves your loyalty.
