What The "MLS"
When selling your home you want to make
sure as many potential buyers as possible are aware of your property.
The best way to ensure that "maximum exposure" is through the services
of a Realtor and the Multiple Listing Service (MLS). The MLS is a
central registry of properties used by Realtors to match buyers with
homes on the market. MLS is described as a "cooperative marketing
system" to ensure maximum exposure of properties for sale.
Realtors are experts, trained and
licensed in the field of real estate, who service the needs of the
public in the buying and selling of homes. All are members of local
real estate boards and have access to the MLS -- an extensive network
of listings across the country.
In addition to being distributed in printed catalogues, MLS is also a
sophisticated computer database of properties indexed by price,
location, type of home, number of bedrooms, amenities and so forth.
Photos of homes may also be available on-line.
for the consumer
The major benefit of MLS to consumers is that it allows the Realtor to
use his or her skills to their full advantage. Realtors are experts at
determining what it is a potential buyer wants in a home--and a large
part of the Realtor's job lies in finding properties that suit these
criteria. By utilizing the MLS, a Realtor can search the database for
homes that suit budgets, location preferences and family requirements,
and quickly put together a short list of suitable homes.
Many consumers will find themselves first viewing MLS material at
their Realtor's office to preview potential properties and narrow the
list further. When it comes time to view in earnest, they know exactly
what homes they want to see, what their options are and what types of
properties the market has to offer.
This gives the home buyer an extraordinary amount of choice and
flexibility. The search for homes doesn't have to involve driving
around neighborhoods looking for "for sale" signs. Nor will it mean
relying on homes listed only in newspapers or real estate magazines.
With the MLS, an entire spectrum of available properties is at your
Even if you're moving across country or to a distant part of the
province, the MLS can be used to scout homes in advance, greatly
reducing the worry that often comes with relocation.
The bottom line is that what's good for the buyer is good for the
seller. This is because the main obstacle for any seller is to find
qualified, motivated buyers. The only way to overcome this is to match
your home to the requirements of as many potential buyers as possible.
Using the MLS cuts through the complexities, exposes your property to
those most likely to purchase it, and makes sure you won't waste time
showing your home to those who aren't truly interested.
So, when you've made the decision to sell, make sure you ask your
Realtor about an MLS listing. It could be that your Realtor will
already know of a number of potential buyers, but in most cases, an
MLS listing will open up a broader range of interested parties.