What Is The Multiple Listing Service
Buying or selling a home in Florida can be a very exciting time. If you plan on working with a certified real estate agent, there’s a good chance he or she will have access to the multiple listing service, or MLS. The MLS system has been called the lifeblood of the real estate industry, and for good reason. But what exactly is the MLS? In this blog, we’ll discuss the multiple listing service in depth so you have a better understanding of this impressive tool.
At AmeriTeam Realty in Orlando, we’ve helped hundreds of home buyers and sellers with their real estate needs, and we would love to do the same for you. If you’re interested in learning more about our realtors or you’re interested in one of our properties listed online, contact us today!
A Brief History of MLS
Before we dive into what the MLS is, it’s important to understand where this service came from. Multiple listing, in one form or another, dates all the way back to the nineteenth century. During this time, the very first Boards of Realtors® were established as “Real Estate Exchanges.” On certain appointed days of the week or month, the Members of the board of Realtors gathered together to exchange information about their listings. In effect, this group carried on an auction for people to purchase property, which was a common practice in the 1880s and 1890s. Shortly after the nineteenth century, the term “multiple listing” was put to use to describe this service. It wasn’t until the 1920s that multiple listing became widely accepted.
How Does The MLS Work?
Unless you’re a practicing real estate agent, you may not understand how the MLS system actually works. This database of homes for sale is limited to licensed agents and brokers who pay for an annual membership. This means that your average home seller cannot post their property directly to the MLS site. Once a real estate agent has a client looking to sell a home, they will gather the necessary details to post on the website. Some of these details may include things like square footage, the number of bedrooms, and any other noteworthy attributes of the home. They may also include photos on the listing to entice potential buyers to view the property for themselves.
When a real estate agent logs into this site, they have immediate access to a wealth of data that they can pass along to their clients. The MLS is a database of properties for sale in a regional market, which can also coordinate the sharing of commissions between the listing agents and agents who bring in a buyer.
Alternatives to the MLS
While the MLS is a fantastic way to search for properties, some home sellers choose not to work with a real estate agent because they don’t want to pay commission. That’s why some homeowners choose to list their home as “For Sale By Owner,” or FSBO. It’s important to note that selling a home on your own is far from easy, and we always recommend working alongside a certified Realtor.
Certified Realtors in Orlando
If you’re thinking about buying or selling your home, working with a real estate agent is the best way to ensure the process goes smoothly. At AmeriTeam Realty, we’ve been providing Florida homeowners with quality real estate services for more than 20 years. We offer personal, one-on-one help with what some say is the biggest decision you will make in your life. Whether you’re looking for a larger home to make room for new family members or you’re ready to downsize into a smaller, more manageable home, we can help! Contact our Realtors today!
I understand that buying or selling a home in Central Florida is more than just a transaction: it’s a life-changing experience. I am a highly-seasoned Central Florida Real Estate Professional, with ....