In essence, a Multiple Listing Service is like a database for current real estate listings for a specific area or region. Brokers and members of National Association of Realtors sign up for one or different MLSs. There are hundreds of local MLSs in the United States, and the benefits come to everyone – buyers, sellers and brokers alike. Here’s what you must know.
The need for MLSs
Long before MLSs, consolidating property information was a huge task, and as a result, the real estate industry suffered. For buyers, it is important to have access to more properties, before they could make a choice according to their budget. As for the sellers, exposure is essential to locate potential buyers, and finally, real estate agents must make money through commissions. No wonder, Multiple Listing Services did wonders, and even in the world of internet, when we have property portals with homes for sale by owner, these databases are important.
What can you do as a seller to avail the benefits of Multiple Listing Services?
Well, there are realtors who can get your property listed on their website and subsequently on all MLSs of the area. Some agents can charge a high price for this, but with a good realtor, you just pay a flat fee for the listing, and your home remains for sale, until the deal is done. Over the years, the number of Multiple Listing Services increased, and therefore, it is practically impossible to use each. With realtors, you can get the house listed on the most heavily viewed MLS in your area. Please note that realtors don’t make money beyond the listing fee, and there are no hidden charges, but the seller must pay for the buyer’s agent, if the buyer has contracted one that is.
The process of getting your home listed for a Multiple Listing Service is easier than ever. The realtor will ask for a few details, and once your papers are signed, the listing will up online within a couple of days. When that happens, hundreds of brokers get to see that listing and you get their services related to finding a buyer while paying for a single fee. As you can probably guess, many homeowners are using this option to get better exposure for their properties on sale.
Check online now to find more on Multiple Listing Services and sign up right away for your listing!