But first, what’s MLS? MLS is short for multiple listing system, a computerized catalog 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 This Is 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 major multiple listing systems in our region.
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. And even in 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 River.
What This Means
As a result, 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.
Let’s look at a Portland real estate agent with access only in the Portland-based MLS, but seeking available Aurora, Woodburn, Hubbard, 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 view. 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.
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. When your property is listed, we can place your property into both the greater Portland Realtor MLS (RMLS) and the greater Salem MLS (WVMLS), at NO extra charge.
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 having double coverage, which do you expect to sell faster and for a higher price?