You thought Election Day was last week, but yesterday the National Association of Realtors (NAR) board voted on a few important policy changes that will benefit homebuyers and sellers. The result means better and faster data on home listings, as well as more convenient search results for consumers.
Here’s a summary of the big changes, which go into effect in January:
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More Data on Sold Homes. Without having to log in, users on our site and mobile apps will be able to see at least three years of information, including photos, list and sale prices, about homes that have sold, as long as this information is already available through public records.
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Faster Updates. Brokers will be required to update their listings in the multiple listing service (MLS) every 12 hours, and MLSs will be required to update their data every 12 hours. Redfin already refreshes its data from the MLSs every 15 to 30 minutes to ensure we always have the freshest data possible and so homebuyers can use Instant Updates to find out about new homes hitting the market within minutes.
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Easier Searching. Brokerage websites will be able to display listing results from multiple MLSs in one search, giving customers a complete picture of homes they’re interested in, even if they come from several different MLS sources.
We’ve long encouraged serious homebuyers and sellers to use brokerage websites like Redfin for the most accurate and up-to-date information, pulled straight from the source. These changes further support brokers’ position as the authority on home-listing information that consumers need to make informed decisions. Redfin extends its gratitude to NAR for making these progressive changes for the benefit of consumers.
If you want to read more about the policy changes, this Inman article offers a great explanation.
