It’s a common misconception that 100% of homes for sale are shown on leading real estate websites. But in reality, about 40% of homes on the market are sold before or without listing, resulting in only 60% being posted on major listing sites, according to a recent press release from Prevali. Addressing the value to have access to “˜Coming Soon’ and off-MLS properties, Prevali has launched a nationwide beta test to become the first and only real estate search portal to release these properties to agents, brokers and the public.
“Homebuyers are often under the impression that all available properties are posted to the major real estate websites, but that just isn’t the case,” said E.J. Footer, co-founder and chief financial officer of Prevali.
Named an Inman Innovator Awards 2015 finalist for the “Most Innovative Technology” award, Prevali will post upstream listings between 48 hours and even several weeks before reaching MLS allowing homebuyers to access homes before they’re actively listed for sale. These properties, usually the best, often sell before reaching MLS forcing homebuyers to obliviously shop on leading real estate search portals only showing properties that didn’t sell.
“The truth is that more and more homes are being sold by word of mouth within closed agent circles, but we created Prevali to widen those circles by bridging the gap between the MLS and the upstream market,” continued Footer. “The result is a real estate search portal that, for the first time, gives agents and consumers free online access to the homes previously only available to a well informed few, homes that never make it onto other real estate search portals, including the market leaders.”
To benefit agents, sellers and homebuyers, Pervali uses technology to provide a gamut of specialized features and enhancements to separate it from existing services. This includes: greater ease in contacting the listing agent, agents have more control over their listing data eliminating out of date listings, peer-to-peer marketing, opportunities for agents to reach out to potential listings, enhanced search features, 3D tours online and a number of others features.
