Not All Real Estate Brokers Are Members Of The Local MLS

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MLS (multiple listing service), where you live in the US? What does it mean if a broker is not? Let's consider the implications.

Most people know that the MLS is where real estate agents post their listings. This is the first step in marketing a property. Putting the listing in the MLS gives the listing with their potential buyer clients. All of this poses the property to more potential buyers.

So why would not you be a member of a local MLS? There are three logical reasons. First, it is too expensive. That is not likely, since it is not an expensive service. In fact, it is the least expensive marketing an agent wants ever do. The second possible reason is that the broker has a better marketing plan. That could be, but this is not likely, since the best marketing plan would include it in the local MLS. The third possible reason would be that the broker's membership is suspended or revoked by the local MLS board. If that's happened, we do not even want to discuss it further with that broker. Anyone who listens to a broker either does not know about the suspension or they are on Ritalin.

For the consumer, there are several more important considerations in deciding to list with a non-MLS participating broker.

  1. What is the broker's plan to market your property? Does he or she even have a plan?
  2. How are the listings exposed to the rest of the world, or are they at all?
  3. Does the broker depend entirely on just hanging up? How many buyers wants that exposes your property to?
  4. Is the broker's effort focused on marketing only on local buyers in a limited marketing effort, or is there any national exposure to the many out-of-state buyers?
  5. With no exposure to all the other local brokers and agents, how does the broker intend to expose your listing to all potential buyers, or even many of them? Most buyers want to work through other agents, right?
  6. What is the broker's relationship with other local agents? Good? Bath? Nonexistent?
  7. If the broker is not part of the local broker network, understand that it is highly unlikely that other local agents will ever tell their clients about the broker's listings. Why should they, they do not get paid.
  8. A non-MLS broker does not want to have IDX (public) search capacity from their website and your listing will not show up in other agents & # 39; websites through their IDX public property search tool.
  9. Does the broker have many other agents?
  10. A non-MLS broker may try to entice customers with discounted commission rates. One question here. Would you pay for a burnt steak, a rotten potato, and freezer burnt vegetables? What? S a discount if you do not get the service, can not sell your home, or do not get the best price?
  11. Last question. What is the broker's relationship with past clients? I do not mean just 2 or 3, I mean many of them. Anyone can end up with a few happy clients, but what about dozens or 100's of clients? Are there a lot of burned bridges? Do not you want to know?

When it comes to hiring a real estate agent, do your due diligence. Do not cut corners. There's no such thing as a free lunch, but there's such a thing as getting a broker who wants to list your property, but is not a member of the MLS.

Your logical goal when selling your home is to get the highest possible price in the least amount of time. I recommend choosing your real estate agent carefully. It's a very important decision for you.

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Source by Chuck Marunde