Odds are that if you have thought about buying or selling a home, you have heard about the MLS®. Based purely on word of mouth, it seems like the MLS® is some magical place where you can list your home and get it sold safely and efficiently. But the issue is, it is difficult for most people to learn what the MLS® actually is and what its many advantages are.
I'm not trying to call myself a hero or anything, but I thought it would be about time for someone to summarize all of this information in one place. Let's get started!
What is MLS®?
The MLS®, or Multiple Listing Service, is owned and operated by REALTORS® and is proclaimed as the most powerful real estate marketing service in the world. The MLS® has been operating for over 65 years and has solidified itself as the primary trustworthy place for market information and listings.
The MLS® is a marketplace where realtors share accurate and clear information with each other in order to ease everyone's jobs and get homes bought and sold as efficiently as possible.
How does the MLS® work?
All listing data on the MLS® is submitted by REALTORS®, meaning that it is far more accurate and professional than individuals listing their own properties. The MLS® is essentially a cooperative marketing system that helps the public buy and sell real estate through the realtors communicating with each other.
To list on the MLS®, Realtors must meet professional development requirements and adhere to a code of ethics and rules of cooperation. Think about this as quality control for the service. They must also, among other things, carry Errors and Omissions Insurance and follow a strict set of business practices.
What are the advantages of MLS®?
In Quebec, over 90% of the homes sold were listed using the MLS®. Why?
Unsurprisingly, MLS® has numerous advantages for home buyers, home sellers, and real estate agents.
First of all, one of the biggest advantages of MLS® is the safety it provides to home buyers and sellers. Since all brokers using the MLS® must follow a strict set of business practices have proof of certain certifications, the likelihood of fraudulent or misleading listings is incredibly low, especially compared to other listing services like Kijiji. For most people, the purchase or sale of a home is the biggest transaction they will ever make, so being able to guarantee the safety of this deal should be people's number one priority.
Secondly, the MLS® provides you with the maximum exposure for your home. If you are selling a home and list it on MLS®, it is shared with many thousands of realtors for the broadest distribution possible. Any realtor or individual interested in your home will be able to easily contact you thereafter. If you are buying a home through the MLS®, you have the biggest pool of homes available anywhere to look through, all while being confident in their reliability.
Third, housing market information that originates from the MLS® has generally been recognized as the most reliable and comprehensive data available for those looking to buy or sell a home. MLS® staff at real estate boards consistently conduct quality control to ensure that all market data is accurate and updated, providing realtors and the public at large with relevant market information. If you, for example, want to know whether we are in a buyer's or seller's market when considering buying or selling your home, you can find accurate answers through the MLS®.
Simply put, if you want to buy or sell a home in the safest, most efficient way possible, using the MLS® is simply unbeatable. You get massive listing exposure, guaranteed safety on all listings, and are provided with the most reliable and comprehensive real estate data anywhere all in the same place.
If you want your home listed on the MLS® for a lower rate than almost all other real estate companies in Quebec, we have a deal for you! Qube REALTORS® will list your home on MLS® and actively try and get you the best deal possible, all while helping you navigate the market safely and with professional insight. Qube supports Quebec residents by providing full-service real estate experiences with incredible rewards: sellers save thousands in commission and buyers receive cash back when they purchase a home with one of our REALTORS®. Visit our website here or call 1-877-410-7823 to learn more.