At one point or another, most Americans will relocate. While purchasing a new home can be exciting, it can also bring about a lot of stress — particularly if you’ll be listing a home for sale at the same time. Understandably, you’ll want to do everything in your power to market your property listing to prospective buyers. This, after all, will increase the chances of your home being sold quickly and for a fair price. But how do you ensure your listing is seen by the right people?
Working with a reputable real estate agent or broker, like 88% of home buyers already do, can be a great start. But you might be overlooking another platform that can increase the exposure of your listing and the likelihood of a quick sale: MLS listings. Let’s talk about what the MLS system is and how it can streamline and even speed up the property sales process.
“MLS” stands for “Multiple Listing Service.” The MLS is essentially a large, location-specific database established by real estate brokers to provide in-depth information to each other about available properties for sale. The ultimate goal of MLS listings is to connect buyers and sellers while allowing brokers for both parties to benefit.
There isn’t just one MLS for the entire nation. Instead, there are hundreds of MLS databases established across the United States, allowing buyers and sellers in specific areas to find and share the information they need. For example, there’s an NYS MLS for buyers and sellers throughout New York State. Each MLS maintains its own set of rules or procedures, but they function in much the same way and share a lot of the same processes.
One of the most unique things about MLS listings is that this information is available only to brokers and their clients. The average person can’t access MLS listings on their own. Instead, they’ll need to work with an agent or broker who has a current MLS membership. Although there are lots of real estate listings you can readily find on your own in newspapers or online, MLS databases offer more exposure than your average print or digital ad. When your property is seen by more people who are motivated to buy or to sell, that’s ultimately going to be more advantageous than other types of marketing.
That means, in many cases, that listing your property through an MLS can speed up the sale of your home. Although using an MLS won’t eliminate the need for a longer closing or a home inspection, it can mean that you can waste less time on open houses and waiting around for someone to extend an offer. It also speeds up the property search process for a buyer’s broker or agent, as they can access all of the details they need to schedule a showing without having to look at several different websites. In some situations, using an MLS can actually eliminate the need to list a property on the conventional real estate market, particularly when “coming soon” listings are utilized. This option can create a sense of urgency and exclusivity, which can be helpful if your goal is to speed up the sales process.
It’s important to note that there’s no guarantee that using an MLS database will speed up a home sale 100% of the time. However, the increased exposure (and the quality of said exposure) your property listing will experience with an MLS can certainly make it more likely that a home sale can happen quickly and for the price you have in mind. In addition, the requirement of working with an MLS-affiliated agent or broker can ensure you have the experience needed to market your property effectively and connect with other real estate professionals who already have buyers lined up.
There may be some elements of a home sale that are out of your control, but your listing doesn’t have to be one of them. To learn more about how we can help you gain access to your local MLS database and find the right buyer for your home, please contact us today.