Odds are you’ve spent a little time online searching for homes. After all, most home searches begin online. Hopefully, you have been using our website at Premierhouses.com to search for your home.
But where does listing information come from?
Way back in the day, prior to the Information Age revolution, brokers used to gather and exchange information about their properties. The idea was fairly straightforward: I’ll help you sell your properties if you help me sell mine. It’s a “private offer of cooperation and compensation.” Cooperation meant the real estate industry could thrive and buyers and sellers could enjoy smoother transactions.
This spirit of cooperation gave rise to Multiple Listing Service(s) (MLS). By consolidating information about housing inventory in an MLS, listing brokers and buyers’ brokers can easily share up-to-date information about homes on the market. Though an MLS is typically a private database available to brokers, much of the information is syndicated to outside sites in the interest of casting wider net for buyers and sellers.
As an MLS is the primary source of information about a property, it tends to be the most accurate. It may also contain private information for use by brokers only, such as times the home is available for showings and seller contact information.
There are upwards of 850 MLS databases in the U.S. alone, and to a certain extent, there is market pressure to centralize these into a national MLS database. We’re sure to see changes in how Multiple Listing Services are used in the future, but the core benefits to home sellers and buyers is sure to remain.
Ready to put the power of an MLS to work for you? Search with us today, our online MLS is updated every 15 minutes. Some online MLS information is only updated once a day. If it is available for sale, you will find out on our website. Check it out at today!