1. What is
the Multiple Listing Service (MLS)?
The Multiple Listing Service (MLS) is the Realtor Association's list of homes
currently for
sale. The MLS is the primary tool used by Realtors to find homes for the buyers
they help, and for most
Realtors and buyers it is the only tool they use to find homes for sale. A
home listed in the MLS (called a
listing) will quickly be seen by hundreds of Realtors and their buyers.
Studies have shown that the MLS finds the buyer for more than half the properties
that sell, and that
homes listed in MLS sell for significantly higher prices than those not listed.
The next most
effective home selling tool is the yard sign, which is only one-third as effective
as the MLS
2. How does MLS work?
When a Realtor finds a seller who wants to sell their home,
they enter the home into the MLS. The home
is then called a listing. The Realtor enters a photo of the home, and details
about a home, from room
sizes to the type of furnace. Realtors are obligated to enter all of their
listings immediately
after they receive them.
When a Realtor finds a buyer, the cooperating commission
creates an incentive to find a listing for the
buyer to buy so the Realtor can collect the cooperating commission. Realtors
can collect this commission
anytime they find a buyer that successfully buys any listing in MLS. Therefore,
Realtors look in MLS every
day for new listings/homes that come on the market. When they see a prospective
match for their buyers,
they schedule a showing to show the buyer the home with the hope of selling
the home to the buyer and
collecting the cooperating commission.
Some Realtors, call Exclusive Buyer Agents or Buyer Only
Realtors, only work with buyers and search
the MLS for listings. These Realtors make the MLS the most effective method
for selling your home.
BuySelf Realty allows you to use these Realtors and still save thousands in
commission.
3. How valuable is an MLS?
An MLS shows and sells more homes than any other way of
advertising real estate. MLS single-handedly
finds the buyer for over half of homes that sell. Everyday, many of the 500
local Realtor participants check
to see if new listings meet their buyer’s criteria. BuySelf’s Realty
makes the undisputed, most powerful
marketing tool in real estate available to you.
4. Can anyone add listing on BahamasMLS.com?
No, only members of the Bahamas Real-estate Association (BREA) who have a user
account with BahamasMLS.com can add listings.
5. Can anyone view listing on BahamasMLS.com?
Yes, anyone can view the listings on BahamasMLS.com |