Q. What are the different Status types for MLS listings on NuHabitat?
Q. How do you search for SOLD data in my neighborhood?
Q. Why are Cumulative Days on Market, Price History and Sold Data so important to me as a consumer?
Q. How does NuHabitat differ from Zillow in terms of what the user sees?
A. NuHabitat differs quite a bit—primarily because, while there is some overlap, we’re not trying to compete directly with Zillow, Trulia, etc. We are a real estate search site, but we believe that our true value lies in creating a cloud-based home management platform for agents, clients and families/friends to collaborate anytime, anywhere and on any device. This is an identifiable void in other home search sites. NuHabitat.com will include a comprehensive dashboard for both agents and consumers to organize the home search process in one convenient, accessible location. NuHabitat is essentially home management software—the consumers’ “Basecamp” for real estate.
At the same time, stale data has been the major criticism of many third party search sites. NuHabitat does use MLS data, which means that information is updated every 10 minutes and includes days on market, historical pricing data and accurate sold data.
Q. If I understand correctly—the key difference is the use of direct data from the MLS. How do you educate the customer about this difference and is it obvious enough to draw users away from Zillow and Realtor?
A. The key differences lie in the collaboration and online management aspects of NuHabitat that are in development, as well as the accuracy of our data. We are planning a robust digital media strategy to drive traffic to the site and to serve as an education platform. Direct relationships with agents and brokerages are also critical to informing consumers about NuHabitat’s data transparency, information accuracy and convenience.
Q. What is CDOM and how is it calculated?
A. CDOM stands for “cumulative days on market”. That is a calculation by NuHabitat that counts the total number of days a home has been listed for sale aggregating all MLS #’s into a single count, UNLESS, a Closed event has taken place. The only exception is when a home has been removed from Active status for more than 90 days.
This is an effort to show the consumer when an agent has removed a home from the MLS that has been on the market for an extended period of time just to re-list it again with a new MLS# and make it appear that it is a new listing to the market.