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Realtors are
experts, trained and licensed in the field of real estate, who service
the needs of the public in the buying and selling of
homes. All are
members of local real estate boards and have access to the MLS -- an extensive
network of listings across the
country.
What is MLS?
The MLS is a
central registry of properties used by Realtors to match buyers with homes
on the market. MLS is described as a
"cooperative
marketing system" to ensure maximum exposure of properties for sale.
The MLS is very effective. Last year, sales across Canada from MLS listings
totalled an amazing $58 billion.
In addition to
being distributed in printed catalogues, MLS is also a sophisticated computer
database of properties indexed by price,
location, type
of home, number of bedrooms, amenities and so forth. Photos of homes may
also be available on-line and, over the
past year, many
real estate boards have added their MLS listings to the Internet through
www.mls.ca.
The advantages
for the consumer:
The major benefit
of MLS to consumers is that it allows the Realtor to use his or her skills
to full advantage. Realtors are experts at
determining
what it is a potential buyer wants in a home--and a large part of the Realtor's
job lies in finding properties that suit these
criteria. With
MLS, a Realtor can search the database for homes that suit budgets, location
preferences and family requirements,
and quickly
put together a short list of suitable homes.
Many consumers
will find themselves first viewing MLS material at their Realtor's office
to preview potential properties and narrow the
list further.
When it comes time to view in earnest, they know exactly what homes they
want to see, what their options are and what types of properties the market
has to offer.
Through the MLS,
Realtors can literally view details of thousands of homes. In fact, in
1997, over 300,000 properties new to the
market were
listed in Ontario alone.
This gives the
home buyer an extraordinary amount of choice and flexibility. The search
for homes doesn't have to involve driving
around neighborhoods
looking for "for sale" signs. Nor will it mean relying on homes listed
only in newspapers or real estate
magazines. With
the MLS, an entire spectrum of available properties is at your Realtor's
fingertips.
Even if you're
moving across country or to a distant part of the province, the MLS can
be used to scout homes in advance, greatly
reducing the
worry that often comes with relocation.
The bottom line
is that what's good for the buyer is good for the seller. This is because
the main obstacle for any seller is to find
qualified, motivated
buyers. The only way to overcome this is to match your home to the requirements
of as many potential buyers
as possible.
Using the MLS cuts through the complexities, exposes your property to those
most likely to purchase it, and makes
sure you won't
waste time showing your home to those who aren't truly interested.
So, when you've made the decision to sell, make sure you ask your Realtor about an MLS listing. It could be that your Realtor will already know of a number of potential buyers, but in most cases, an MLS listing will open up a broader range of interested parties.