When you’re just beginning a career in real estate, there are many tools you can use that will make your job easier and more effective. The MLS (multiple listing service) is a tool that has been helping professionals achieve success in a competitive market for decades. While you may have heard of it, you should have a good understanding of the important role it can play in your career. Here are the answers to some questions agents have about MLS listings.

A Guide to MLS Listings for New Real Estate Agents

What is MLS?

MLS is a collection of private online databases featuring homes that have been put on the market for sale. It’s used by real estate agents and brokers in different regions who need to list or find a property for their clients. Although the system has grown significantly in the digital age, the concept has been around for more than a century, when agents would come together in person to share information about their listings. 

How does it work? 

In most cases, only licensed real estate professionals who pay a membership fee have access to MLS listings. A seller’s agent will gather the pertinent details about a property and create an appealing listing that draws interest from potential buyers. The database is constantly being updated throughout the day to provide the most recent and accurate information.

What information does it include?

Whether buying or selling, MLS is a good place to find competitive market data. Agents can review and compare properties that are currently for sale or have recently sold and determine an appropriate asking price for their client’s home. 

Buyers’ agents can also search for homes in their client’s price range and see how much they should offer. Additionally, the database provides specific insight on each listing, such as the year built, square footage, number of rooms, upgrades that were made, and unique characteristics and amenities.

What are the benefits of using it? 

As a real estate agent, using MLS listings allows you to conduct a fully customized search to quickly find homes that meet your clients’ criteria and gain more exposure for properties being sold, leading to faster sales. It also shows which types of homes are most popular within a certain area, revealing the kind of buyers an agent should pursue. 

If you want to start your real estate career off right, consider joining the team at EXIT Realty Nexus in Coon Rapids, MN. They offer agents access to high-quality training, education, and marketing tools, such as MLS listings, to help promote steady growth and development. Founded in 2004, this is a top performing real estate franchise that provides unparalleled business building-opportunities. Call (763) 548-1400 to ask about the hiring process, or visit them online for more information.