Reciprocal license- required to "hang" for access to MLS?

Question

Just a quick little background on my situation. I recently moved to Massachusetts from Colorado, where I was licensed as an associate broker (essentially the same as a real estate salesperson in MA) and I am in the process of applying for a reciprocal license. I would like to utilize the license for the sole reason of gaining access to the MLS for investment opportunities (i.e. I don't plan to be a buyers/sellers agent). So my question is:

Do I need to hang my license under an employing broker in order to gain access to MLS? Or can I simply sign up as a licensed Massachusetts individual and be off to the races?

Any input is greatly appreciated.

Tucker

Do I need to hang my license under an employing broker in order to gain access to MLS? Or can I simply sign up as a licensed Massachusetts individual and be off to the races?

Any input is greatly appreciated.

Tucker

Michael Saracino · Answer

In terms of current listings and alerts, I have to say, Redfin does an excellent job at this. Although I'm a broker and MLS participant, I find myself using Redfin quite frequently. It's much more mobile friendly.

Fair point on the historical data, which is why I asked what exactly you were looking to get out of MLS. If this is a function you foresee using, there's not much in terms of alternatives to MLS access.

In terms of costs, expenses to get and maintain a license aside, the fee to participate in MLS as a broker is around $500/yr. Not sure what it costs for a broker to add a saleperson, but either way it's a fairly significant expense.

Not being an MLS participant can make it tricky in terms of getting access to property, setting up showings, and collecting on broker splits. So, if you are serious about buying and plan to represent yourself, it's basically a necessity.

Your options are to hang your license with someone to get the access to MLS. Or, find an agent that you like working with, and use public sites to identify targets and then bring in the agent when you're looking for more detailed info and access to the property.

Michael Saracino · Answer

Tucker, do you plan to act as your own buyers agent on any investment opportunities? What information are you looking to glean from MLS that you cannot get from the public information that is pushed out to website such as zillow, redfin, etc.? Seems like an awful lot of work and expense to get that information.

Steve Bracero · Answer

@Christopher Phillips

Correct!

Tucker Helmus · Answer

@Michael Saracino Thanks for all the information!

Christopher Phillips · Answer

@Tucker Helmus

You always have to hang it until you get your own full broker's license.

Reciprocal license- required to "hang" for access to MLS?

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