Many of you have heard your real estate agent mention the MLS. But… what is the MLS? What does it mean? What does it do? And does it affect me as a home buyer or seller?
Let us walk you through the MLS and explain why you should know about it as a buyer or seller!
What is the MLS?
MLS stands for multiple listing services. Not only does the MLS system host all home listings from Realtors, but it also is the private offer of compensation and cooperation agreement between brokerages.
This is an excellent tool for your listing agent to find cooperating brokerages to help get your house sold! This also means that no matter what brokerage you list your home with, it will be exposed through the MLS. Another Realtor can show any house listed on the MLS. This also ensures that small brokerages can compete with larger brokerages.
The amount your agent will be paid from your home’s sale is also shared within the MLS system.
Sellers
In our area, you must be a licensed REALTOR® to access the MLS. While most real estate agents are also REALTORS®, not all are. A licensed REALTOR is held to a higher standard and must abide by the National Association of REALTORS® code of ethics.
Why does this matter to a home seller? Well, you definitely want your house in the MLS for marketing purposes. All the listings you see on Zillow, Realtor.com, and everywhere else come directly from our MLS.
Buyers
Homebuyers! If your agent doesn’t set you up on a property search through the MLS, ask for one immediately!
The MLS is the fastest way to find out what houses have hit the market or had a price reduction. Also, your agent can set up your home search in the New Orleans metro area with the condition in mind. If you’re only looking for new construction, we can set your search up that way.
The MLS is the best way to search for homes for clients with many needs. Let’s say you’re looking for a brick home with a pool, fireplace, more than one acre, and an attached garage, and it needs to be in excellent condition – you can’t search that way from these other online sites. Only through our MLS can your agent hone in on your specific desires.
The MLS is the best way to get the maximum exposure for your home or to truly narrow down your property search. With us as your REALTORS®, we will always use the MLS!
Let’s find your next home! Start by messaging us!
Contact Team Be New Orleans