PRISM: Do Real Estates Agents use it?



From: Adam Weisser

Hi all.

One for the Real Estate Agents out there.

I know there's this whiz bang database of all properties sold called PRISM. Only licensed Real Estate Agents have access to it.

My question is: do they use it? If so, in what way? How would it benefit me, the home-looker?

If I rocked up to my local Nelson Alexander and said "can you tell me the range of prices of houses in Easey St Collingwood" would they be able to find out the answer? Would they tell me even if they could?

Is this data being used to help the consumer, or is it there to help the vendors?

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Reply: 1
From: Peter Martin


When I wanted to get a house revalued recently I went to the agent I bought it from (and who I had also sold a property through) and asked him to look up PRISM for me to get some reference sites in the area. His (very lazy) response was that all the data on PRISM is at least 6 months old and therefore of no use.

After talking to him, I dropped in at an open house in the area being run by an agent I had only spoken to once before. Not only did he remember my name but when I told him what I was after he was only too happy to do the search for me. The next day he sent me an e-mail listing all the sales within 3 kms of my property in the preceding 12 months. It's all about service.

The data was very handy. As well as showing all private and auction sales it also showed high bids at auctions that were passed in. The most recent entry was about 1 month old.

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