The Benefits of MLS in Real Estate

It isn't uncommon for the average consumer not to know what MLS is or why it's beneficial in the real estate market. Typically, only agents know what MLS even stands for - multiple listing service. Some also refer to it as multiple listing system.

The service is common in the property market, however few believe the benefit of such a system is not appreciated as much as it should be by sellers and buyers. To fully grasp and appreciate the benefits MLS has to offer, take a look at its history and how the services came to be.

Each individual realty company used to keep its own inventories of property listings for sale before the multiple listing service concepts came to fruition. The exclusivity of these listings were controlled by that particular realty company, and no other agent could show these properties or sell the without expressed consent from the company holding the listing. This, under normal circumstances, lead to realty companies selling their own property listings without access to any listing information from competitive companies.

How Buyers Benefit From MLS

In order to see homes throughout an entire desired area or locale, potential homebuyers had to work with more than one realty company before the advent of multiple listing service. Today, though, buyers benefit from MLS tremendously. Gone are the days of being forced to work with a number of different companies in order to see a wide variety of home buying options. If the realtor is within the MLS, all the properties are accessible to them.

There are consequences to this reality, though, in that buyers hold their agents to higher expectations. Through using the multiple listing service, the future homebuyer expects their agent to provide them with listing in the entire market.

This is based on a forged relationship produced from several one-on-one meetings, rather than seeing more than one agent. The agent is allowed to show all the listed properties in the MLS, and provide their customer with all the necessary information about that property.

How Sellers Benefit From MLS

Under normal circumstances, real estate companies did not provide access to their listings to other companies prior to using the multiple listing service. Through the development of this concept, though, the need for permissions is eliminated thanks to multiple listing service.

The permissions process was lengthy, daunting, and frustrating when homebuyers are working on schedules different from those they're waiting to receive contact. Eliminating this waiting period makes it easier on the agent, and less stressful for the potential homebuyer.

While many believed these would cause problems with competing companies, this is not the case at all. Companies are in agreement about sharing listings with competitive companies. All properties are accessible to any agent, as well as their company, within the area of the multiple listing service. This helps provide additional exposure which sellers benefit from because it increases selling opportunities.

Christianne is a Guelph Real Estate Agent with HomeLife Realty Limited Brokerage. Everybody who knows Christianne knows that her professional focus has always centered around Customer Service Excellence. Contact her about any property that is in the MLS Guelph listings.