As a person who is married to a licensed real estate agent and one who has dabbled in the market as an investor for more than 20 years, I can tell you that the industry is evolving at a rapid rate. There are some who believe that all of the new additions are not necessarily good. The days of the old-fashion lockboxes with combinations are almost a thing of the past. Agents can gain automated access through digital technology in a matter of seconds. In my opinion, automation will never be able to fully replace an actual realtor. While certain tasks can be automated, like home searches, the personal engagement and advocacy you get from a live real estate agent cannot be emulated through artificial intelligence.
Something that has become very common is multiple listing services, like Zillow. The official MLS for each state is different than sites like Zillow and RealTracs, but the following 10 facts will give you a peek inside of RealTracs.
1. It is Complete Data Integrated Data Platform
Most people who are familiar with real estate are also familiar with the MLS for their state and region. RealTracs simply integrates all listings through a process known as data sharing. In other words, people can search listings for houses within their area of interests with confidence that all available houses that are properly listed will be shown. This can be both a blessing and a curse.
2. RealTracs Facilitates the Building of Realtor-Client Relationships
As I stated at the beginning of this article, there is much to be said for the services that a professional real estate agent provides. While a buyer can search for homes on their own using multiple search providers, the understanding and resources needed to ensure they are getting the best deal possible is better left in the hands of the professionals. RealTracs connects clients to reputable agents.
3. One-Stop Shop for Real Estate
When you visit the RealTracs site, one of the first things that become immediately apparent is that the site is designed to facilitate almost any real estate task. While it requires an agent to official list a house on the MLS, the average person can still use the system to search of properties as well learn what houses in a particular area of selling for, and even get property tax projections.
4. Safeguards Market Information
Because of the detailed process associated with real estate contracts, there is a lot of personal information out there. RealTracs takes great care to safeguard this data at a level that exceeds the minimum requirements by the federal government. This commitment to security provides real estate professionals with a level of confidence that would not otherwise exist.
5. Creating Connections
RealTracs is vital to the creation of professional connections between real estate agents and professionals that represent sellers and buyers. The platform is ideal for the creation of a congruent process that is conducive to fluid business transactions. This is a place where everyone that plays a role in getting deals done can come together in one place.
6. There Is Strength in Numbers
Building effective networks begin with the development of effective community environments where people can get together with other professionals to ensure that processes continue to run smoothly. RealTracs even creates an environment in which competitors can come together to an efficient and healthy marketplace.
7. It Benefits Buyers
Buyers who work with agents associated with RealTracs can be confident that they will always have access to the most current lists and visuals for properties that are currently on the market. Additionally, the buyer will also be assured that the agents representing both parties will work together to ensure the process goes smoothly. This can get real rocky when agents refuse to work together.
8. Great Support for Sellers
The concern that most sellers have is focused on exposure. They want to know how many people their home will be placed in front of. RealTracs provides the confidence that every home will have maximum exposure to those who it will appeal to. It will put the sellers home in front of active buyers who are actually interested in comparable homes in the area.
9. It Is Exclusive to North America
Despite the existence of a real estate in every geographical location across the globe, Multiple Listing Services is an unknown concept outside of North America. The idea of competitors working together to sell homes is quite unique; however, it is something that seems to be working quite well. There is a lot of uncertainty in other areas of the world due to the lack of complete information.
10. It Serves as a Quality Control Mechanism for the Mid-South
While MLS systems around the United States vary slightly based on state laws, there is a lot of similarities and they all share information to help close as many data gaps as possible. RealTracs serves the mid-southern United States and it ensures that the services that clients get in this region represent a standard of excellence and superior quality.
Written by Rick Wallace
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