As a homebuyer or home seller you may wonder how to list a property on the market, or how to access homes for sale. Today, you can learn how to use MLS real estate listings alone, or with the help of a real estate agent. Also known as the multiple listing service, the MLS is a public database used across the real estate business. The MLS includes active home listings, and much more.
What is the MLS, or Multiple Listing Service?
The Multiple Listing Service, or MLS realtor listings are available to real estate brokers, and potential homebuyers to see available property listings. If you are able to access the MLS via the internet, or through a real estate agent you will be able to see all types of information about a property. The database is created, maintained, and paid for by members of the National Association of REALTORS® so you can count on the MLS real estate listing being updated and accurate. The information provided on the MLS includes historic and current real estate data of listings in the area. The local MLS will be different between cities, agents, and brokerages, so check with your agent to get the correct listings.
Today, it is easier than ever before to access the MLS via the internet. You may still be confused by the information you find on the MLS, or how to understand it. Talking to a professional real estate agent can help.
The 5 Most Frequently Asked Questions About the MLS
Before you access any property information on the MLS, you will need to know the answers to these 5 most frequently asked questions about the Multiple Listing Service:
- Q: How many of the properties on the MLS are for sale?
A: Approximately 99% of all the properties on the MLS are for sale. While there are numerous websites, and home listings available, there is only one MLS. The Multiple Listing Service is the most reliable, and comprehensive database of homes for sale. Because it is created by the National Association of REALTORS® the MLS is also one of the most accurate lists of properties for sale in your area.
- Q: How does the MLS work?
A: The Multiple Listing Service gives viewers limited access to the properties in the database. Access to the MLS database is limited to real estate agents and brokers. You cannot view this valuable database of properties alone, so the first step in accessing the MLS is to call a qualified agent, and get started on the process together.
- Q: Are there specific advantages to using the MLS?
A: The MLS offers a range of benefits that no other search engine can provide. Considering that without the MLS real estate agents and brokers would not be able to consolidate property information, compare it, and find buyers, the MLS is a must-have for homebuyers and sellers. Using the MLS as a search engine for homes for sale in the U.S. is the best way to find a new listing. It can also help you gain a greater understanding of the home values in the neighborhood.
- Q: What is a pocket listing?
A: The MLS includes properties listed for public viewing. However, you may not find high-profile properties listed there. Some real estate agents will hold off listing a property to avoid it gaining publicity, or “looky-loos.” These homes are known as pocket listings because essentially, they are hidden from the public as if they were in the pocket of the real estate agent representing the property. In doing this a real estate agent is able to protect their most valuable listings from competitors.
- Q: Can I find available homes for sale outside of the MLS?
A: If you want to list your home for sale, but you do not want to pay a commission fee to your real estate agent – that’s ok! However, listing your home on a For Sale By Owner website can be risky because you do not have the support of a qualified real estate agent. This may be why only about 8% of for sale by owner homes actually sell. The vast majority of homes on the MLS are sold, and thus most people place their properties on the service in order to make the most of the marketplace.
Making the Most of the MLS
Using the MLS is a way to sell your home fast. While you cannot access the Multiple Listing Service without a real estate agent, you can reach an agent with just one phone call. Talk to a qualified agent today at the offices of Jeff Barchi to access the MLS. There is no need to wait to get more detailed answers to your questions about the Multiple Listing Service.
There is only one service that you can trust to provide accurate information, real-time updates, and past data on home values in the U.S. If you decide to sell your home, or buy a home without access to the MLS that is your choice. However, it is highly recommended that you call the offices of Jeff Barchi to talk to a licensed agent about what is possible for your ideal property.