There’s news and then there’s news. Consider:
A real estate industry study released today shows that most popular consumer real estate search engines, including Trulia, Zillow, Google and Yahoo!, offer home seekers only a small fraction of the homes actually available on the market — and that many of the listings are inaccurate or out of date. Real estate searches on these popular sites in three sample markets — Miami, Dallas and San Diego — failed to provide users with as much as 92 percent of available listings in their home searches.
“Holy cow!” you might think. “The mainstream media is writing something actually factual about the defects of venture-capital-funded Realty.bots! No puff, no fluff, just the straight dope!”
Contain yourself. This is not news. Like most “news,” it’s a regurgitated press release. “Cui bono?” “Who benefits?”
The study, commissioned by Roost.com and conducted by the WAV Group, points out the stark contrasts between different online property search methods available today and concluded that the most accurate source of listing information is the local Multiple Listing Service (MLS). The WAV Group specifically researched how popular consumer real estate search sites including Trulia, Google and Yahoo!, among others — which aggregate listings from a variety of third-party sources — stack up to sites like Roost.com, which are enabled by the MLS. The MLS is the real estate industry standard database for sharing information on local homes for sale and is available only to licensed real estate agents and brokers; all the listings on the MLS are derived from local agents and brokers. To serve the needs of agents wishing to make MLS property search available to consumers, MLS boards nationwide have deployed a standard called Internet Data Exchange, or IDX.
This again is obvious, of course, so it’s perfectly understandable that mainstream media mavens seem not to know it. But it’s completely self-serving on Roost’s part. The actual news in this “news” would be:
Trulia/Zillow available everywhere (even on your phone), Roost unknown to founders’ mothers
But when would you ever expect to find news in the newspapers?
In fact, in the cities where it operates, Redfin.com has the most Read more