Thinking of selling or buying an Edmonton home? Here’s a quick recap of what an MLS is and how it can help you.
As Wikipedia defines it, “A multiple listing service (MLS, also multiple listing system or multiple listings service) is a suite of services that enables real estate brokers to establish contractual offers of compensation (among brokers), facilitates cooperation with other broker participants, accumulates and disseminates information to enable appraisals, and is a facility for the orderly correlation and dissemination of listing information to better serve broker's clients, customers and the public.”
Furthermore, Realtor.org describes MLS’s as having “private databases that are created, maintained and paid for by real estate professionals to help their clients buy and sell property.” Contact information of the sellers are kept private for safety and security purposes.
It is important to know that MLS in Edmonton does not allow private individuals to post properties in the system, only registered Realtors can post in it. The Canadian Real Estate Association or CREA built and operates the website that houses the main MLS. You may think of it as the central bank of real estate which consists of listings from over a hundred real estate boards in Canada.
The main benefit of this service is that it helps home sellers expose their properties to a multitude of serious buyers, and for home buyers to have immediate access to homes that match their particular needs. It’s a win-win situation for all parties involved!
Although the public may access the MLS, it is but limited. In order to gain comprehensive data, private individuals need the help of real estate agents or in the case of Team Leading Edge, serious buyers who wish to get more information needs to register in the “Search Listings” page.
The MLS use if free of charge so home buyers can access it anytime and anywhere they want. Take advantage of our MLS so you may find you next Edmonton home!
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