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The Multiple Listing System (MLS) is an electronic “warehouse” of information about homes listed for sale in your local area. There are more than 800 of these local electronic warehouses throughout the U.S. Information stored in the MLS is available only to real estate licensees, who pay subscription fees to have access. The MLS is a “real-time” database; meaning as soon as new information is posted it is available for viewing. Real estate professionals typically check the MLS each day – if not several times a day – to access the latest information and updates. All homes listed on the MLS are automatically forwarded to Realtor.com, the database operated by the National Association of Realtors. Other consumer databases (i.e. Zillow Trulia, etc.) get feeds of MLS data as well. Why the MLS is so important
The principle of "supply and demand" is what makes the MLS so valuable to home sellers. Most homebuyers are working with real estate agents who are overseeing their home search. And the fastest, and only, way to reach all the agents representing those buyers is through the MLS. When an agent sees a newly listed home for sale with a price, style, etc., that matches up with a clients’ interest, they’ll immediately follow up with the listing agent and/or visit the property. The end result of the enormous exposure created by the MLS is that it creates the greatest possible demand homes. And demand translates to selling faster, and at the highest price the market will bear. Advertising on the internet or in local newspapers can’t begin to compare with the immediacy and exposure to the buyer agent sales force that the MLS delivers. |
