But first, what's MLS?
MLS is short for multiple listing system, a computerized catalogue
of homes. When a property is listed with a Realtor,
information on that property is typically loaded into an MLS computer for
subscribing Realtors to share with
clients.
Why is it important?
Multiple Listing allows Realtors to quickly access information on
available properties for home buyers, while efficiently marketing
properties for home sellers. Because information on MLS
properties is rapidly available, homes sell much faster in MLS.
Multiple listing also provides Realtors with current market data
to better advise clients about property values. But what
most people don't know is that there are actually two multiple
listing
systems in our region.
Here's how it's normally done:
As you might expect, Realtors typically list & sell using their
local MLS system. What's important to realize is that there
are many grey zones not fully controlled by any single MLS.
Even in those areas where one system dominates, entry into the
second system can really help. The Portland-based multiple listing system (RMLS)
is less dominant in many areas south of the Willamette River. The Salem-based multiple
listing system (WVMLS) loses steam north of the Willamette.
This means each multiple listing system only covers part
of the market. Because most real estate firms don't wish to pay two
fees, most belong to one system. Often Realtors list
properties outside their market. Given the expense of
belonging to two MLS systems, many
Portland properties are only entered in the Salem MLS, and many Salem
properties are only found in the Portland MLS. So if a new
listing hits the market but is in only one MLS, you may never
know it...unless one has access to both systems.
For Example:
Let's look at a Portland real estate agent with
access only in the Portland-based MLS, but seeking available Aurora,
Woodburn, Keizer, Silverton or Salem homes for a buyer client. Because
most Realtors belong to just one system, this agent's buyers have significantly
fewer properties to tour.
Then consider a Salem agent searching available properties in
Portland, Hillsboro, Tigard, or Gresham for a buyer client.
Again, since most Realtors belong to only one system, this Salem
agent using his or her local MLS will miss many great properties in the
Portland area.
Buyers have a distinct advantage with
double MLS access It's to your advantage to
work with a Realtor accessing both systems. Buyers needn't settle for
viewing what is often a fraction of available properties.
Sellers have a distinct advantage with
double MLS exposure The advantage here is
clear. Like advertising on two radio stations instead of
only one, the more people who know about a seller's property,
the better.
Now here's how we do it:
Certified Realty is one of the few real estate firms with
membership in both dominant local multiple listing systems. It costs us more to do this,
but we've long realized the importance of double MLS coverage.
Double MLS coverage means buyers have more homes they can view, and
sellers have a larger pool of potential buyers to purchase their property.
Best of all, we provide this double
coverage to our clients at
no extra charge! Being in two multiple listing systems can make a
big difference. When you buy or list with Certified Realty,
we put the ‘Power
of Two’ to work for you!
Still not convinced?
Then consider this: Assume you have a home to sell. If your
property is in only one MLS but competing with other properties available to thousands more Realtors
and their buyers than yours, which do you expect to sell
faster and for a higher price?
