A "message" from Message - The Multiple Listing Service® system... and YOU!
Anyone who has even a passing interest in the real estate market has seen or heard the term ‘MLS®’. But few consumers know exactly what MLS® is, or understand the important role it plays in the real estate industry.
The MLS® system, also known as the MULTIPLE LISTING SERVICE® system, is a complex information-sharing and cooperative marketing network created by REALTORS® several decades ago to help the public buy and sell homes. While it is computer based today, it began as an exchange of paper listing information and photographs.
The MLS® system is a member based service, paid for by the REALTOR® members of the local real estate Board. The MLS® mark symbolizes the cooperation among REALTORS® to effect the purchase and sale of real estate through real estate services provided by REALTORS®, and is much more than a database of property information. It is the local real estate Board that actually administers and operates the local MLS® system. The Canadian Real Estate Association owns the trademark, and licences its use to Boards and Associations across Canada.
The MLS® system makes the real estate industry unique by encouraging a high degree of cooperation among salespeople. For example, if you’re shopping for a car and you visit a local dealer, the salesperson’s goal is to sell you a car from that lot. They won’t provide you with information on cars available at other competing dealerships. In real estate industry, the opposite is true. The MLS® system allows for cooperation between all REALTORS® no matter which company they work for.
If you are selling a property, listing with a REALTOR® who uses the MLS® system means your property gets maximum marketing exposure to all other members of the local Board. You’ll have REALTORS® everywhere trying to find a buyer for your property. It is the MLS® system’s computer that will provide other members of the real estate Board with detailed information about your property.
If you are buying a property, the MLS® system is a valuable research tool for your REALTOR®. They’ll input the criteria you want and generate a list of all properties that meet your needs. These homes might be listed by other REALTORS® from five or ten other companies – to your REALTOR®, it doesn’t matter. Their goal is to help you find the property you want. Their goal is to help you find the property you want. The MLS® system supplements the REALTOR®’s in-depth knowledge of the neighbourhood and current market conditions to help you make a wise buying decision.
The MLS® system provides REALTORS® with access to much more detailed information than you’ll find on a web site. MLS® information will include room-by-room measurements and specifics on the property condition, renovations, property zoning and rental rates. Through the system, REALTORS® can also access the sales history of a property in order to see how many times it has changed hands and at what prices.
Whether you’re buying or selling, the MLS® system is an indispensable tool – and it’s offered exclusively by your REALTOR®
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Hugh Message - www.HughMessage.com
Macdonald Realty 1st Pioneer
22424 Fraser Highway, Langley, BC V3A 8N3