The Real Estate Encyclopedia
What Is The Advantage Of The Multiple Listing Service?
Category - Home Buying Questions - General Home Buying FAQ's

Once the listing agreement is signed, your agent will list your property with the local MLS (Multiple Listing Service). The MLS is a database of all the homes listed by local real estate firms and agents who are members of the service, which as a practical matter includes almost all the local agents. An agent or firm who is not a member of the local listing service will not be able to utilize this service. 


The listing service will include important information about your property, including general data such as square footage (in those states allowing this kind of information), number of rooms, type of central air conditioning and heat, hard wood flooring, etc. There is generally also a photo and a short verbal description of what makes your house “special.”


Typically, agents search the database for homes that fit the price range and needs of their clients. They pay special attention to new listings or homes, which have recently been placed on the market.  This is one reason you get a lot of attention when your house is first listed. Many agents prefer to preview the home before they show it to their clients, making sure it will fit their needs.


The main advantage for having your house listed in the local MLS is that you expand your sales force by the number of local members and those now accessing that information on the Internet. Instead of working with one agent, you now gain exposure to hundreds if not tens of thousands, depending on the size of your community and the interest generated outside your market by agents representing homeowners that are in the process of relocating.


The listing agent’s main job is to make sure that all the potential buyers in your market know about your house and one avenue to them is through all other brokers. This is accomplished through the listing of your house in the local MLS, broker previews and advertising targeted at homebuyers as well as the agents that may represent them.


External Links
Home Selling Questions - Listing & Agreements FAQ's
Home Buying Questions - General Home Buying FAQ's
Home Selling Questions - General Home Selling FAQ's
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