How Do I 'Access' MLS & What Is This MLS exactly?

Question

Hello!

Marty said in the first BP Podcast that access to the MLS in essential even if you don't plan on making offers or listing (which I do) and it's much easier to look at comps and such yourself without leaving all of that to a realtor, and so he STRONGLY recommends getting your real estate salesperson license. I've looked up whats required in my state, but I still don't understand this MLS thing. I thought MLS was just looking at websites like Trulia, Zillion, Realtor, etc. What happens or changes if I get the license? What does it allow me to do that I wouldn't be able to otherwise? I've noticed my local newspaper refers to an MLS number. Is there a central MLS that has all properties? Or just a local MLS? Thanks!

Best Regards,

Jason Eyerly

Andre M. · Answer

MLS = Multiple Listing Service

There can be one or multiple local MLS's in your state.  A couple of ways to get direct access to your local MLS:  1) Contact a real estate agent/broker and have them pull information that you are looking for.  2) Get your own real estate license and pay the local MLS access fees.

Brandon Turner · Answer

Hey @Jason Eyerly - excellent question!

So, yes - sites like Zillow and Trulia do get most of their info from the MLS, as they have a special license to do so. However, the MLS is a lot more complicated that it might seem, as there really is no such thing as an MLS. In fact, there are hundreds of MLS's across the country - from tiny ones to huge ones. It's a terrible system, that is held together through the National Association of Realtors. Anyways, that's besides the point.

Yes, you can get a lot of info from those sites, but you can get a LOT more from the real MLS. Agents who directly tie into the MLS have special powers that we mortals can only dream of! For example, they can look back in time and see almost all the previous sales, list prices, and get a much better idea of "comps" to know what house values truly are. Plus, those with MLS access usually have access to much better records than Zillow or Trulia, whose listings can be outdated.

So anyways, that's that. I don't have my license, but I wish I did! Hope that helps!