MLS In 2016
– Technology has changed the way in which each local Multiple Listing Service, otherwise known as MLS’s, operate. Long ago, real estate agent’s relied heavily on the ‘up-book’ of listings and the once a week (or month) published MLS book. The impact that technology has had within the real estate marketplace is huge. Beginning in 1996, property listing information found its way onto the internet through Multiple Listing Services going on-line. Now agents, buyers and sellers no longer rely as much on the MLS as industry giants like Realtor.com and Zillow.com offer a similar service as the MLS in 2016. But, not all information can be gathered by consumers from these sites which enables local MLS’s to continue to be a huge force in the real estate market. With over 800 different Multiple Listing Services throughout the United States, the MLS is still a force in the market. Examples of the data on the MLS are property tax information, sales history, a detailed description and images of the property.
Real Estate Data Distribution
Syndication of listing data has been a controversial issue among many close to the real estate industry. While Zillow and other top real estate websites offer listing details, they are usually limited as to what they show. Each MLS typically has a larger number of fields for listing details. One of the main issues is that agents, brokers and MLS/Realtor boards all have strict rules that govern how they can display real estate listings. However, there is little control over how syndication portals (such as Zillow) show the data. MLS’s across the country have been looking into other options for syndication and marketing efforts in order to better compete with real estate website giants. On-line listing sources continue to be popular among house hunters. While some turn directly to the MLS in 2016 to find homes for sale, others rely heavily on the data that Zillow and other similar sites provide.
Consumer Real Estate Portals vs. Multiple Listing Services
With the ever-growing popularity of searching for properties on-line, buyers don’t have to rely on traditional print based magazines or newspaper advertising to find properties. Nor just locating “for sale” signs placed in the front yard. A large percentage of buyers begin their home search on-line and rely on it heavily as a useful source for finding out property details.
MLS systems are a great tool for realtors and brokers alike. Although access is restricted to being a member, they serve as a terrific resource for real estate professionals to publish listing information, prepare a comparable market analysis (CMA) and research properties for sale. Local and regional MLS associations require real estate agents and brokers to pay dues to be a part of the system. For Sale by Owner (FSBO) properties are unable to post their listing to the Multiple Listing Service although some MLS databases may allow a FSBO to pay a fee to become listed on the MLS.
MLS Advantages for the Consumer
For sellers, the MLS offers great exposure for getting in front of real estate agents and buyers. For buyers, the MLS offers convenience in searching for listings as well as the ability to receive up-to-date information.
MLS 2016We Buy Massachusetts Houses
ToneyRickPrincipalOffice179 Quincy StreetSuite DBrocktonMassachusettsMA02302United StatesReal Estate InvestingApril 07, 2016