No...MLS does not Mean "Might Learn Something"
MFRMLS
If ever there was a program that warranted you taking the time to learn, it would be the Multi Listing Service, or MLS. The formal web name is MLXChange but you will hear people talk about the MLS or MLX. I can only speak for Orlando as each multi Listing service is different. Each Board runs a multi listing service and each state has multiple Boards of Realtors.
The MLS is chock full of information, communication and general information about practicing as a licensed Realtor. The key is knowing which buttons to push and when to push them!
The basic use of the MLS is to be able to search for properties that are listed. This is easy in the sense that you put the buyers criteria into the system and out pops everything that meets the criteria you entered. I always caution agents that you can put in too much criteria. For example, a buyer wants a 4 bedroom, 3 bath home. They want it to be over 2,000 square feet, a 2 car garage, a pool, they want a 1/2 acre or more of land, they want it to be a 2 story house with a Barn and they want it for $200,000.
After you get through laughing, you will see that most likely your search will come back with zero results. You have to play with each search in order to allow the system to work for you.
Another common mistake is when a buyer says that they don't want to spend more than $200,000 and you put this number in at the top of the range. If a house that meets all of their other criteria is on the market for $201,000, it will not come up. The point is that you need to give a little leeway on your criteria so that you won't miss any listings that are close.
Studies show that for most of the computer programs we use, we only utilize about 10-20% of that programs capabilities. Take the time to learn the MLS in your area and you will be better equipped to answer any questions that your buyers might have.
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Date: Wednesday, April, 9th 2008 @ 10:35:05 AMViews: 478
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