How Does Multiple Listing Services Work?

Posted: January 16, 2012 in Real Estate Tips
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In today’s struggling real estate market, you probably need all the help you can get. So how do you attract more potential homebuyers to view your home? Nowadays, you are going to need more than just a ‘For Sale’ sign and an advertisement in paper. For decades, hiring the services of a professional real estate agent has always been the effective tool in selling your house. Your realtor lists your property on a multiple listing service.

A multiple listing service is an exclusive collection of private databases used by realtors and agents who have agreed to share their listing agreements with each other to help potential homebuyers find properties faster. Brokers ear a certain commission whenever their listed property is sold and when they help sell as a buyer’s representative. Along with the multiple listing services, realtors can also resort to real estate listing services like homes.com, forsalebyowner.com and loopnet.com.

What are some of the benefits of multiple listing services to consumers? Homeowners can now expose their homes to thousands of homebuyers around the country that you would otherwise never reach. And as a homebuyer, you get to have instant access to homes that match your criteria, aside from location and average price range.

You can also find a real estate listing site that will give you an estimate on mortgage payments, real estate taxes and utilities on a specific property. This feature saves people who are involved in the transaction (that includes sellers, buyers and real estate agents) the legwork in going through millions of properties available in the market.

Because of the advancing Internet search functionalities these days, buyers and sellers have realized their less need for the MLS. Today, there are plenty of online service providers that specialize in real estate listings. Whether you are selling or purchasing a house, make sure you look into real estate listing sites. Expand your online reach as much as you can for positive results.

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