What is the MLS?

The MLS, or Multiple Listing Service, is an extensive database of homes for sale, land/lots for sale and rental homes listed by Realtors®. It is made up of Broker members who agree to share their listings with one another in the hopes of procuring ready, willing and able buyers for their properties more quickly than they could on their own. There are actually several hundred MLS databases throughout the United States, but there is usually only one per local area. Many of the MLS's now share paraphrased versions of listings with public internet sites such as Realtor.com, Google Base and Yahoo Real Estate. This leads many people to believe they are viewing the actual MLS when searching for homes on these websites. However, only licensed agents who belong to the MLS system have access to actual full-version MLS listings. 

Why Do I Need the MLS?

According to the National Association of Realtors, only 13% of homes are sold without the MLS. That means an overwhelmingly 87% of homes are sold every year using the MLS system! There are two main reasons the MLS works so well. First, most home buyers today still prefer to work with Realtors® when searching for homes. Agents provide a great deal of information for the home buyer and many buyers are reluctant to enter into contract agreements without an agent. A large part of the Realtors® job lies in finding properties that suit the buyer's criteria. With the MLS, a Realtor® can search homes for sale that suit their buyer's budgets, location preferences and other requirements. From the MLS they are able to quickly put together a list of suitable homes. The buyers that Realtors® work with are ready, willing and able to buy a home, and as most sellers know, finding a serious buyer is one of the hardest things when selling your home. By listing your home in the MLS, Real Estate agents and homebuyers will know you are serious about selling your home.

Second, the internet is quickly changing the way homes are bought and sold. For those home buyers not wanting to use a Realtor®, the public internet sites allow them to view homes that are currently listed in the MLS for sale (unlike the MLS where updates are immediate, listings on the public web sites are typically updated every 2-3 days). However, as a home seller, the only way to have your home listed on these public websites is by first being listed in the MLS. The MLS system, then in turn, transfers your listing to the various public internet sites. 

By listing your home in the MLS you will be opening up a world previously unknown to For Sale by Owners. Not only will Realtors® have access to your listing with their qualified buyers, but millions of people all over the world will be able to view your house for sale. Using the MLS cuts through the complexities of selling your home yourself, 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.

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