What is The Big Island Real Estate UPdate?

I have a hard time explaining just what the UPdate is.  There are about 1,000 agents on this island.  There is a company called Hawaii Information Service that’s been around for about 30 years that began amassing a data base of all the property tax records on the island when they were first incorporated by the Kona Board of Realtors.  Also, for a fee, they allowed agents to fax (when fax machines used continuous rolls of a funny type of paper) them their listing data and they would transcribe it into a big book about the size of a 2″ think phone book.

Over the years they separated from the Kona Board, formed their own corporation and branched out to include the Hilo Board and the Kauai Board.  This was the first Big Island MLS (Multiple Listing Service).  Maui and Oahu have their own MLS.  As the digital age progressed they began to post the listings online; first in black & white, later in color (no more books).  So now you have about 1,000 agents posting and updating their listings from their own computers every day; new listings, price changes, back on the market & sales (also expired & withdrawn listings, but I don’t copy those).

All the activity that gets inputted from midnight AM to midnight PM is posted as an update at 12:01AM that morning.  The activity for the previous 24 hour period only appears on the UPdate first thing the morning after.  The next day, all the listings that have appeared before the last 24 hour period, are still in the data base, but they must be accessed by a regular property search (Custom List), and will not appear on the UPdate again unless, and until, something changes with a particular listing.

You may have noticed some Back On the Market listings have DOM’s (Days On the Market) of two or three hundred days.  That’s because they have been in the data base for months as Active listings, then as Contingent or Under contract listings, until something went wrong and they came back on the market.  There are thousands of listings in the data base either still Active, Contingent or Under contract.

Like I said, only when something changes with one of those listing will that listing appear on the Daily UPdate the next day.  When I re-read this it makes sense to me, but I work with the data base every day and have done so for 25 years.  I mentioned last week, that if you want to see listings that match your parameters (set of criteria), you must send me those parameters so I can create a Custom List for you.  The Custom List will have all the listings in the data base, that match the criteria you have given me, regardless of the date they were listed.  I hope this has shed some light on the subject.