MULTIPLE LISTING SERVICE
WHAT IS THE MLS?
Created and managed by real estate professionals, the MLS is a proprietary database that serves as a gathering point for all property listings in a certain geographic region.
Each home ‘listing’ includes extensive information – not always available to the general public – or on a website like details about the home, the property and its surroundings.
HOW IS THE MLS USED?
To gain access to the MLS you must be a member of the local Board or Realtors which means the service is most available to real estate agents- because of this the MLS also covers issues like how commissions are to be split and other information regarding the relations between brokers and agents.
The MLS helps real estate agents search for homes- if they are working for a buyer. The real estate agent can then create a list of homes that meet the criteria that the home buyers are looking for. Once a list is created, the real estate agent can then show each home to his/her client and have all necessary information about the house at their disposal.
When a real estate agent's client is selling their home, the MLS is the first place other agents will look when finding homes for their buying clients. The better the photos, descriptions and details that are posted on the MLS, the better your chances are to get your house shown to a buyer and then sold.
Overall, the MLS is a tool that is necessary, and certainly helpful, in the selling and buying of homes.