When you sell a home, one phrase you might hear a lot is “MLS,” which stands for multiple listing service. Used by licensed real estate agents in Minnesota and across the country, this type of trusted platform is used to determine accurate valuations for properties, making it easier to set a price. However, many people wonder how important an MLS is when listing a property for sale, which is why understanding this service can be helpful.

Understanding an MLS

What Is It?

Established in the 1800s, multiple listing services are shared databases that real estate agents use to learn more about the details and sales prices of homes. In the United States, there are more than 800 MLS organizations, which have no governing body. These individual MLS databases share information with other brokers about property values and are designed to make it easier for brokers to work with one another to sell property.

For instance, if you are a homeowner in Texas thinking about buying a home in Minnesota, your real estate agent would be able to list your home in Texas on an MLS, making it visible to other brokers all over the country. This significantly raises your chances of selling the home. Also, when you move to Minnesota, your agent will be able to use an MLS to give you an idea about home prices and trends in the area.

Which Benefits Does Using an MLS Offer?

Because many online, DIY real estate businesses don’t use an MLS, their sellers may experience longer wait times to find an appropriate buyer. On the other hand, an MLS levels the playing field when you list a home since it will be compared with other properties viewed by other buyers.

An MLS also makes it possible for smaller brokerages to compete with larger ones since they both have access to the same information. This makes it easier for buyers and sellers alike to shop around for professionals they feel comfortable working with instead of feeling obligated to work with the biggest brokerage that may not offer a personalized experience.

When you’re thinking about listing a property for sale, always work with a real estate agent who has access to an MLS, such as the professionals at EXIT Realty Nexus in Coon Rapids, MN. With a deep understanding of Greater Anoka County and a commitment to their clients, these trusted agents use the proven EXIT Realty formula for selling real estate and getting their clients top-dollar for their properties. To learn more about the company, visit their website or call (763) 548-1400.