MULTIPLE LISTING

The MLS (Multiple Listing Service) is a tool for listing homes that are for sale.  It also provides an accurate and up to date record of properties under contract, sold properties and those properties that haven’t sold such as withdrawn or expired listings.  This data helps real estate associates educate their clients on how to price their properties by showing them what people have paid for comparable properties.

 

Real estate listings in the MLS contain many pieces of data about properties that have sold and those that have not.  Primarily it provides addresses, photos, descriptions of properties, lot sizes, number of rooms and tax information.  Many more important facts are available also such as dwelling square feet, construction types, utilities, schools, financing and features like other structures and swimming pools.  It’s the experienced associate’s responsibility to utilize this data and formulate a qualified opinion of value by enhancing the information with good judgment and common sense. 

 

The MLS is also a sharing of comprehensive real estate information among professionals including real estate associates, appraisers and assessors.  It also helps organizations like the National Association of Realtors to report to the public the number of homes in inventory and existing home sales for previous months.  These numbers are indicators of the health of the real estate market.