Multiple Listing Service (also known as the MLS) centralizes listings from different areas of Canada. This gives licensed real-estate agents and salespeople across Canada access to thousands upon thousands of properties.
This system offers both buyers and sellers many advantages. The following are reasons why MLS listings are a good choice for you when it comes to your next real-estate adventure.
The MLS is a great tool for sellers. The MLS listing by the real estate agent will give you all information about your property that a buyer might need. It allows real estate agents to search homes that are within their price range, and with the features they feel would be most appealing to potential buyers. The wide selection of the MLS system makes it easier to marry your house with the right family in a shorter time.
Your salesperson has access as a buyer to many homes of different price points and styles. The MLS allows your salesperson to narrow down the properties that meet your requirements. Do you really need four bedrooms? Why waste your time on two-bedroom homes? Looking for a property with potential income? The MLS listing will include all that information.
Exclusive vs. MLS
A cornerstone of the MLS system, is getting vendors maximum exposure for their homes. This may help in getting more potential buyers. If you’re selling, the demand generated is great. It’s also fair for those who are purchasing.
A real estate agent will not want you to list your house on the MLS. However, he or she will be marketing it for you. All potential buyers will be referred to his or her agency. You and your agent can agree to list your home for a time, but no other agent will sell it. The only agent entitled to commission is the one with whom you have an exclusive agreement.
A seller may have the option of an exclusive listing if they are in certain circumstances. It’s worth asking the agent you’re considering working with if they bring up the possibility of an exclusive listing. Also, inquire about their success stories with them.