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NorthstarMLS to Release Sold Data through broker/agent web sites.

What does this all mean?  Consumers will now be able to see two years worth of data on homes that have sold.  In addition to being able to search for homes on the Internet, buyers and sellers will be able to use some of the same web sites to search for information on homes that have sold in the last two years.   Real estate agents currently have access to this information and are able to give it to consumers if they ask for it but we have not been able to display it on our web sites.   

The data will help sellers better determine the value of their home and may help buyers decide how much to pay for a home.  Some area REALTORS are not happy about this new development.  They may be  thinking that having information that the general public does not have is how they can add value to the real estate transaction. 

Having access to data is a very small part of being a good REALTOR, and a small part of the services most of us provide.  Information about how much homes have sold for is already public information and can be found on the internet in the county tax records.   In it’s current form it is not easy to use or to search through.

The Northstar MLS believes that making this data public is necessary because consumers are asking for it and turning to less reliable sources to get the information.   I agree with making this information public.   When it does become available I will post instructions on this site on how to find the information.

As a REALTOR I believe that the more information a home buyer or seller has the easier it is for them to make informed decisions regarding the purchase or sale of their most expensive asset. 

I remember how exciting it was when we could first get information about homes for sale on the internet.  There was a time when REALTORS had all of the information in a books that were updated daily.  Home buyers would have to find out about homes for sale through a REALTOR or through the want ads or for sale signs.  Now anyone who has internet access can search for homes on their own any time they want to.  The home search button on this site links to all the homes for sale listed in Minnesota, and anyone can use it.

Home buyers need to do a lot of comparative shopping before they are able to make a decision, the information they find on the interent shortens the process.  Home shoppers who start on the internet are getting an education in price, location and condition.  When they start looking at homes they have an easier time deciding which home to buy and how much to pay for it.

Publishing "sold" data on real estate web sites is controversial and I am sure it will be on the news and in the paper, by the time it travels that far I am sure it will look different than what I have written here.