Publication of Limited Off Market Data
As you know, Alaska is not a disclosure State. AK MLS has interpreted the privacy statute in a broad way; however, the statute itself is vague. Certainly, consumers are protected from having the sales price become public record. The rest of the information regarding a closing is, for all intent and purposes, public now through deed transfers, live listing data, etc.
Large national sites, and those who invest in some basic programming, can easily capture DOM, the last list price, and other data around the sale of a listing. With deep pockets, they get access to information from various sources and publish the fact of sale, where our Members have no ability to easily harness this information for their own websites and marketing.
The Alaska MLS Board of Directors realized that all we were accomplishing by holding back certain information was making it harder for our Members to capture the interest of the consumer. AK MLS will now provide Pended and Closed listing information (sans sales price) in the feed to IDX vendors and allow our members to utilize that information in their Marketing efforts. IDX Vendors have been given advance notice of the coming change.
Fields that will be available are:
Pending Listings: Currently, once a listing goes Off Market, it falls from the IDX Feed. We will allow Pended Listings to be included in the feed.
Sold Listings: Three years of Sold Listings will be available for use by Participants. In additional to the public Active information, it will include the Closing Date, Days on Market, and Selling Office/Licensee. (other closing information – Sold Price, Financing Type and Seller Paid Closing Costs will NOT be available). Other Confidential fields not current public will remain Confidential (commission, etc.).
Days on Market: This is singular MLS field, not available officially anywhere else; however, the majority of portals (national and Broker branded) have ‘Days on Site’ provided to consumers. Consumers want this information, and they are going to get it. Days on Market will become a public field available for display on Active, Pending and Sold Listing.
We realize this is a paradigm shift and there will be mixed emotions regarding this change; however, many Members have been clamoring for the opportunity to deliver more of what consumers want. This allows for additional consumer relevant tools on Broker and Agent websites as well as increased effectiveness of prospecting efforts.
Here at Glacier City Realty we have already begun incorporating these changes by including Last Active List price and days on market in our quarterly newsletter. Just another effort on our part to keep you up to date on what is happening in real estate in Alaska and specifically in the Girdwood area.