About the MLS »
Most people have heard of the Multiple Listing Service, or MLS, but in our experiences many buyers and sellers do not really understand how it operates.
It’s primary purpose for buyers and sellers is to put all properties listed for sale into one big system. Sellers get their property seen by anyone looking at the MLS, not just by clients of the brokerage who’s selling their place. Buyers don’t have to look at several different brokerages’ listings, they can see them all together in one place, on the MLS.
As a secondary purpose, the MLS enables Realtors to sell each other’s listings. So unlike say car sales, where one dealer cannot sell a car from another dealer’s lot, a realtor can look at all MLS listings in their area, and make offers to purchase on behalf of their clients. As a buyer, you do not need to call the listing agent.
But here’s what happens all too often. You’re a potential buyer who has worked with us. You’ve told us what kind of place you’re looking for, your preferences; we’ve maybe taken you to a few listings, ours or other brokerages’. Then one day you see a sign, you call the number on the sign and arrange to view the property. Right there we’ve lost you as a client for that property, and you’re dealing with the listing agent, who is also working for the seller.
It doesn’t have to work this way; you can call us when you see the sign or the ad, we will arrange to show you the place, and if you want to make an offer we’ll do that. There’s no difference in commission to the buyer or the seller. The seller pays commission, and if two brokerages are involved in the sale they split the commission: the total doesn’t change, it’s just split two ways.