The Importance of Using the MLS
The MLS, or Multiple Listing Service, is a major tool for buyers and realtors, alike. Before the internet, most people outside of the real estate industry had no idea what the MLS was or how important it was to buying and selling homes. Today, however, many people have looked at MLS listings and often search it when they’re looking to buy property. Without the MLS in San Diego, it’s easy to say that the real estate industry would not be where it is today. Let’s take a look at some of the reasons why it’s important to use MLS when trying to buy or sell a house.
The MLS is run by real estate agents, and there is no single MLS—instead, there are many different local, regional, and national databases that list homes for sale. However, almost all of these MLS’s use the Real Estate Transaction Standard, the data standard adopted by those in the real estate industry. Real estate agents typically pay annual membership fees to access an MLS; these fees maintain the system and provide for updates and operating costs. MLS systems are privately owned and set their own fees and other guidelines, although they must follow national real estate rules.
It Advertises Houses to the World
Well, maybe not the world, but the San Diego MLS reaches a much larger audience than a single realtor’s website, local newspaper, or other advertisement could ever hope to do. Every agency and realtor out there is advertising their company, but they’re not advertising every property the agent has. That’s simply not possible. Instead, these ads often promote one or a few of the agent’s best listings.
Here’s one of the secrets of the real estate agency: few people buy the house they originally ask about. They may be very interested in the property and want to see it, but they often end up finding that it’s not quite what they’re looking for.
That’s where the San Diego MLS comes into play. The realtor doesn’t just show the client the property they asked about. Instead, they talk to the client about the type of home they want, and then find listings that match those needs. Houses on the San Diego MLS can be viewed by all the agents in an area, effectively turning a listing into an ad. This ad is aimed mostly at realtors, not at the average customer, but these realtors are looking at the listings and passing them on to buyers.
Houses listed on MLS San Diego or other MLS systems tend to sell much faster than those not in the system because all realtors in the area have access to the listings.
It Provides Uniform Information
Sellers appreciate the MLS in San Diego listings because they are comparable—you see the same information about each property. This makes it very easy to see what one property offers over another. With listings from different real estate agencies, you may not always get the same information, nor will it be in the same format. MLS listings make it easy to see the pros and cons of each home.