What is the Multiple Listing Service (MLS)?

​The Multiple Listing Service, referred to as the MLS, is a centralized location of all homes for sale by real estate agents. The MLS is the most valuable tool for real estate agents, as

 you can imagine, for the following reasons:

• The MLS database is available online.
• The MLS is local, with all the homes for sale by agents
• It is easy and fast access
• It provides search and filtering tools to customize the search for home buyers.
• It contains the most reliable and accurate information.

Note that many believe one massive MLS database is serving all that is not true. But regional real estate markets have their own MLS managed and operated by them.

How does the MLS work?
Only real estate agents have access to the MLS databases, and real estate agents pay a small fortune to use the service. The MLS databases contain extensive information on recent as well as older listings and transactions. With continuous software improvement, the MLS search and filtering tools give the agents incredible tools to locate the right home for their clients.  

Real estate agents use the information for:

• To estimate home value
• To generate real estate market reports
• List homes for sellers 
• Search homes for buyers

Should I list my home on the MLS?
Yes, you should. The benefits of listing your home on the MLS is undeniable for the following reasons:
​

• The most crucial factor is exposure; imagine presenting your home to every potential buyer.
• Real estate agents use the MLS to look for homes for their clients, which is more exposure to serious buyers.
• The real estate industry trusts the information on the MLS because of the roles and regulations in place.
• The simultaneous exposure to all potential buyers because of the popularity of the MLS and online search tools

The higher exposure at a short period translates to quick and increased demand for your home. Higher demand is the best approach to get you the top dollar for your home.

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Author

The above Real Estate article was provided by David Khosravi, a leader in his field in North York, Willowdale Real Estate, Reach out to David via email: drdavidkg@gmail.com or by phone: 416.990.2424
Are you thinking of selling your home? I will be glad to share my marketing strategies with you.