The Real Estate industry takes steps to more vigorously analyze data it gathers
October 10, 2017
The Multiple Listing Service of Hilton Head Island (HHIMLS) joined other multiple listing services (MLS) from across the country at the Council of Multiple Listing Service bi-annual meeting September 13-15 in Austin, Texas to determine how to make the most of the data the industry regularly compiles.
HHIMLS facilitates $3 billion in real estate transactions annually. It helps the home buying and selling process in the Hilton Head area by keeping inventory, real-time statistics, and tracking trends. Internet-based brokerage platforms make their assumptions by analyzing general data sets. But a local MLS is the best resource for detailed statistics on the area it serves because of the depth of the information available. The agent on the ground understands what they need for their client and an agile MLS like HHIMLS can produce special reports for key factors necessary for consumers to make the best decision. The local MLS digs deeper and gathers the latest, most reliable statistics a homebuyer needs.
MLSs are now digging even further into how to find the most value in the data they accumulate. For example, they can figure out if more people are moving out of flood prone areas or are willing to risk living there for coastal views. Are property owners looking for more reliable long-term renters or looking for the often more lucrative short-term vacationers? Finding this information in the data they already keep is essential to better serving the market.
“People now have an urgent need for information, particularly when they are making a large purchase such as property,” said Colette Stevenson, chief executive officer of Multiple Listing Service of Hilton Head Island. “As the world continues to change, the MLSs are leveraging their competitive advantage and changing right along with it. Converting information into intelligence and pushing that intelligence through on mobile are how they plan to do that.”
About Multiple Listing Service of Hilton Head Island
Multiple Listing Service of Hilton Head Island (HHIMLS) is a premier multiple listing service in South Carolina, established in 1976. A proud member of the Council of Multiple Listing Services, it is the listing platform facilitating more than $3 billion in annual real estate transactions. Headquartered on Hilton Head Island, it serves all of South Carolina. HHIMLS is vital to real estate professionals’ and to consumers’ success by maintaining the most dependable and powerful data in the marketplace, updated in real time. More information about HHIMLS is available at hiltonheadmls.com and (843) 785-9696.
