Retirement planning isn’t a major topic of conversation for many young people. Often worried about paying off student debt and the rising cost of living in general. However, a little planning now
Whats The MLS
Dated: July 4 2016
When you’re searching to buy a home in Charlotte you often hear the term “MLS”. It’s at the center of the home search process. Do you know what it actually is?
MLS stands for Multiple Listing Service. It’s where agents share information about homes they have for sale. This came about before the internet. Before, if you wanted to buy a home in Charlotte, it was hard to find homes for sale. Even for real estate agents it wasn’t always easy to find them. So the MLS was born.
The MLS is a service where when a REALTOR lists a home for sale in Charlotte they can submit it to the MLS. Then the real estate board managing the MLS would distribute the full list to all the real estate offices. So every agent would have known what homes were available for sale.
As the internet came about, that list was published online. Now there was a central database with information about all the homes listed for sale in Charlotte. This list now gets distributed all over. From sites like Zillow, Realtor.com, and more. They ultimately get most of their information from MLS databases all over the United States.
Ultimately, the most accurate information comes straight from the MLS. Other sites that scrape that information may be delayed. Many times clients will send a link to a home for sale they saw in the Charlotte area wanting to see it. Only that home already sold a while ago and the site wasn’t up to date.
The MLS promotes sharing and comes with rules to share as well. Rules like offering compensation to the agent representing the buyer. Many areas of the world still do not have an MLS system, although many are trying to implement one.
Real estate in the United States is one that is envied in many places in the world. It has its flaws but thanks to things like the MLS its one of the best, if not the best, in the world.