SOURCE: Trulia.com

Trulia.com

March 03, 2011 12:00 ET

Trulia Launches "Trulia Direct Reference" Illuminating a New Path for Listing Data Quality Online

Initial Results Show Over 8% of Listing Data Distributed for U.S. Homes Have Inaccurate Price or Status Information

SAN FRANCISCO, CA--(Marketwire - March 3, 2011) - Trulia.com, a leading site for real estate professionals, homebuyers and sellers, today announced Trulia Direct Reference, a quality assurance system which uses Multiple Listing Service (MLS) data to ensure the accuracy of online real estate listings. Participating MLSs provide accurate reference data (e.g., list price, status, etc.) about their listings; then Trulia identifies data discrepancies between the MLS data and that provided by 3rd party syndicators and other non-MLS sources. Trulia automatically reports data discrepancies back to the MLS, broker and listing agent, providing full transparency into the data Trulia publishes in its search index. Trulia welcomes MLSs to participate in Trulia Direct Reference whether or not they are syndicating their listings to Trulia.

Trulia has been recognized as the #1 quality lead provider two years in a row according to an independent study conducted by Threewide. Trulia Direct Reference adds another layer of quality for Trulia through high accuracy data. "Consumers have long expressed their dismay at finding a home's online listing had the wrong price or status. We believe that Trulia Direct Reference is a positive and necessary action to help achieve full online data integrity for brokers, agents and consumers," said Sami Inkinen, President and co-Founder of Trulia. "Some of the interesting early learnings from a sample of over 500k listings have been that nearly 10% of the listings received by Trulia have either price or status errors. Trulia's algorithms are able to ensure that only the most accurate data makes it onto Trulia.com and now with Trulia Direct Reference, we will be able to provide the industry with better visibility into data inaccuracies, empowering the industry to stop them at the source."

Trulia was one of the pioneers of listing syndication in early 2008, forming a common listing data standard with other large real estate websites. Soon after, Trulia established the first of its kind MLS Advisory Board, which has played a major role in developing this new initiative. With Trulia Direct Reference, Trulia continues this legacy of innovative industry partnerships to improve the real estate consumer's experience.

"We are very excited about our new partnership with Trulia for both listing syndication and Trulia Direct Reference," said Jim Harrison, President and CEO of MLSListings, Inc. "Home buyers and sellers have a myriad of resources at their disposal when seeking property information. Oftentimes, the information is inaccurate or outdated causing confusion in the marketplace. Trulia's decision to incorporate MLS data directly from MLSListings gives buyers and sellers confidence in knowing the information they are seeking from the Trulia website is credible, reliable and most importantly, accurate -- all important factors when considering home ownership."

Russ Bergeron, CEO of Chicago-based MRED, said, "MRED is in favor of this program and optimistic about what it can do to both improve the quality of information available to consumers while continuing to establish MLSs as the premier source of listing content. As a member of Trulia's MLS Advisory Board, I am pleased to have had the opportunity to work with Trulia and see them taking an industry-leading role by assisting MLSs with solving one of our largest problems. I hope that other MLSs will step up and join our efforts."

"Northern Ohio Regional MLS was the first MLS to participate in Trulia Direct Reference and one of the first to syndicate our listings to Trulia on an opt-out basis. We believe Trulia is an excellent place for brokers and agents to market themselves online, and that it's an MLS's responsibility to help our members be successful by partnering with services like Trulia," said Carl DeMusz, CEO of NORMLS.

Multiple Listing Services interested in participating in Trulia Direct Reference to improve the accuracy of their listings, as viewed by consumers, should contact: Mark Weiss, Director of Business Development (Mark (at) Trulia.com). Trulia Direct Reference is 100% free of charge to participating MLSs.

About Trulia, Inc.

Trulia.com is the fastest growing online real estate site focused on empowering buyers, sellers and renters with smarter tools to help you find the right home. Trulia is headquartered in downtown San Francisco and is backed by Accel Partners and Sequoia Capital. Trulia is focused on helping you find the home that truly meets your needs, and delivers on what's most important for you. Ultimately, we built a smart real estate search experience bringing together local information, community insights, market data and national listings all in one place, all for you.

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