The MLS (Multiple Listing Service) offers a wealth of data to homebuyers trying to find the perfect home. But if you’re new to searching listings, it’s easy to mistakes that waste your time or cause you to miss out on great properties. Avoid these common MLS blunders that many first-time buyers make.
Defining your criteria
Don’t dive into the MLS without first clearly defining your search criteria. Determine must-haves like location, price range, bedrooms/bathrooms, amenities, etc. Many MLS sites let you save custom searches that filter for your criteria. Creating these upfront prevents you from looking at homes that don’t fit your needs and streamlines your efforts. Take time to consider details like:
- Maximum/minimum price
- Neighborhoods or school districts
- Beds, baths, square footage
- Property age or style
- Special features like a garage, basement, pool, etc.
The more specific you can be the better. Defined criteria let you filter out listings not suited for you right from the start. Specs like square footage, room dimensions, facts like updates done, etc. can be incorrect or misleading. Never assume MLS data alone gives the full picture. Thoroughly verify MLS details through your own research. Look at sites like Zillow for additional info. Drive by listings to get a personal visual. And tour homes in person instead of relying on pictures. Dig deeper beyond the MLS data before making any decisions. Don’t let surface-level specs tell the whole story.
Judging by photos only
Photos are designed to showcase homes in the best possible light. MLS real estate listing agents carefully stage and edit shots to entice buyers. But pretty pictures can also hide flaws and imperfections. Don’t judge a listing solely on photos that present an idealized vision of the home. Look critically at what the pictures don’t show you. Watch for potential red flags like:
- Room dimensions that seem “off”
- Selective photos hiding certain areas
- Skips in photo numbering that may indicate omitted shots
- Discoloration or flaws blurred or edited away
- Mismatched architecture and room aesthetics
Photos never tell the whole truth. You must visit a home in person before buying to see past the staged images. Don’t rely on photos alone.
Ignoring days on market
Days on market (DOM) indicates how long a home has been listed on the MLS. The average DOM varies by local market, but high DOM deserves attention. It may signal an overpriced listing where the seller needs to reduce. High DOM could also mean a home has flaws turning away buyers. Conversely, low DOM indicates a hot property garnering lots of interest. Make sure to research and factor in DOM when assessing listings. Don’t ignore this number. DOM provides important context beyond just the list price.
Focusing on turnkey homes
First-time buyers often want move-in ready homes requiring no work. But don’t rule out listings needing some TLC. Cosmetic fixes like paint, carpeting, etc. are inexpensive. And you’ll face less competition for homes requiring updates. A home with good bones in a great location can represent a deal despite needing work. Just budget appropriately for repairs. Don’t limit your search only to turnkey listings.
Not working with an agent
MLS sites allow you to search listings on your own without an agent. But home-buying novices who go solo miss out on expert guidance in navigating the complexities of the market. The MLS contains immense data if used properly. Avoid these missteps to maximize your experience. With the right approach, the MLS becomes an invaluable tool to help turn listings into your ideal home sweet home.