MLS® stands for Multiple Listing Service®, a valuable system of 'Real Estate' information, which includes; 'Listings' - properties available for sale, and 'Sales' – properties already sold, as well as many other features the REALTOR® relies on to trade in real estate. This computerized information is housed at a real estate 'Association' and is accessible by all its members. REALTORS® who work in Barrie and surrounding areas belong to the "Barrie and District Association of REALTORS® Inc.". The 'Association' consists of brokerage offices, and each office has individual REALTORS® who make up the membership.
REALTORS® co-operate together to find, show, and sell properties via the MLS® system. It is certainly in your best interest to heed the services of a REALTOR® who has access to this powerful tool. As a Seller, you will tap into all the Buyers who REALTORS® are working with, which gives you the widest and highest opportunity for home exposure. As a Buyer, you will have all the properties meeting your criteria available at your REALTOR®'s fingertips. Could you possibly find an easier way to locate your next home?
It is almost unthinkable how the process of buying and selling homes would change if the MLS® system did not exist. REALTORS® would certainly have to rely heavily on newspaper advertising, open houses, and 'For Sale' signs to attract calls from would-be Buyers for their Sellers. Many REALTORS® still continue to support these methods, but it is the MLS® system that truly does the legwork to find Buyers for properties and to get homes sold.
MLS® and Home Buyers
Listings are homes currently available for sale. REALTORS® have access to all the listings with all the different brokerages via the MLS® system. This accessibility allows REALTORS® to co-operate together to show and sell properties. The details of these homes are categorized and are part of a large database system. Like most databases, you can make queries to filter out homes which meet your needs. For instance, if you are looking for a three bedroom property, with a double garage, under 10 years of age, and between $450,000 - $500,000, then the REALTOR® inputs the parameters into the system and instantly all the listings falling into your criteria appear. The more details you add to the search the more you 'zero in' on your dream home. In other words, the database..., which contains hundreds of listings, can be narrowed down to your specific needs within minutes of talking to a REALTOR®.
Unlike purchasing other commodities where you are left to do your own legwork and investigation, be it a television, stereo system or the like, buying a home offers you a much better way to find what you're looking for quickly and efficiently. REALTORS® pay considerable fees for the use of their MLS® system to help serve you better. And although the Canada-wide website www.realtor.ca exists, it's mainly a good site with a limited search-engine for the curious Buyer to browse. Whereas, the local MLS® system that REALTORS® have access to, is a much more powerful way to locate your dream home, obtain the most current listings, the most up-to-date information, and is the best source for the newest opportunities without delay.
We can uncover the homes you might miss. Some properties are not advertised regularly, some listings lack a 'For Sale' sign, and opportunities on www.realtor.ca may be outdated, or already sold conditionally. If these are the avenues you're using to find a home then you're limiting yourself. REALTORS® have access to the most recent properties because the MLS® system is in place. If you put faith and trust into the equation you'll eventually find the right home.
MLS® and Home Owners
When you sell your home through the MLS® System it happens in two stages, 'list' and 'buy'. You get your home 'listed' by providing the details to a REALTOR® who submits them to the 'Association'. This REALTOR® is now known as the 'Seller's Representative', who assists with the negotiations of the sale. The 'buying' stage begins when the details of your home are exposed to all the members of the 'Association', a network of over 900 REALTORS®. This is extremely beneficial because it's the co-operation of these members who will sell your home. If another REALTOR® is working with an interested Buyer, then a viewing appointment is arranged. This REALTOR® is known as the 'Buyer's Representative'. These 'showings' may occur many times with various REALTORS® before the right purchaser makes an offer. When an offer appears, the selling and buying Representatives assist you in negotiating the transaction.
It's a fact that 95% of homes sold via the MLS® system involve two REALTORS®; the member who 'listed' your home, and the member who represented the Buyer. It's quite an effective structure, and is a key asset to get the wide exposure you're seeking.
It's important to understand where Buyers come from, and it's effective to choose a REALTOR® who has a marketing plan in place that not only promotes your home 24 hours a day, but is linked to this valuable resource; the MLS® System. Would you agree that working with someone you can relate to, trust, and feel comfortable with, is 'also' a worthy consideration? This type of relationship should get you the highest and best price, in the least amount of time, and the least amount of hassle.