Anyone who has even a passing interest in the real estate market, has seen or heard the term “MLS” but few consumers know exactly what “MLS” is, or understand the important role it plays in the real estate industry.
The “MLS” system, also known as the Multiple Listing Service, is a complex information-sharing and cooperative marketing network created by Estate Agents several decades ago to help the public buy and sell homes.
The Multiple Listing Service or “MLS” is a member based service, paid for by the members of the local real estate Board. The “MLS” mark symbolizes the cooperation among agents to effect the purchase and sale of real estate, and is much more than a database of property information.
“MLS” makes the real estate industry unique by encouraging a high degree of cooperation among salespeople. For example, if you're shopping for a car and you visit a local dealer, the salesperson's goal is to sell you a car from that car lot. They won't provide you with information on cars available at other competing dealerships. In the real estate industry, the opposite is true. “MLS” allows for cooperation between all agents, no matter which company they work for.
The whole MLS idea benefits the sellers because of "supply and demand."
How can you, as a seller, get access to the largest number of buyers? Placing an ad in a newspaper? Or putting your home information into a computer accessible by every MLS member who will show your property to their qualified buyers in your price range?
Being placed in the MLS expands a home seller's sales force, exposes the property to a larger pool of prospective home buyers, and creates more demand for the property. The higher the demand, the more pricing power enjoyed by the homeowner - and the quicker a home will sell.
It is extremely convenient, does not cost a penny to buyers, plus...
...you get a qualified and experienced guide to help you through the complicated process of becoming a homeowner.
Whether you're buying or selling, “MLS” is an indispensable tool for your agent.
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