Investment

Are you looking for a home somewhere in Long Island? Are you a first-time buyer or simply buying for investment purposes? It is highly recommended to hire the services of an agent with access to MLS Long Island? If you’re a seller it is important to include this in your marketing tools. But, what really is MLS or multiple listing services?

homeMLS or multiple listing services are a service provided by a group of real estate brokers and practitioners. They all join together to form or create a multiple listing service wherein they list the houses or properties for sale. Under this arrangement, the selling broker and the listing broker splits the commission every time a sale is made. Therefore an MLS Long Island is a listing of all the properties for sale in Long Island.

Who can access the system?

In most cases, only real estate agents, members of the board of realtors and associations can access the system. However, if the agent does not meet the rules set by the local MLS, they won’t be able to access the system. When this happens, they will have no access to updated listings.

However, there are some internet sites wherein they list homes for sale. Most of the time, they get their information from the MLS Long Island. Even if they get their information from the MLS they still lack some information. In fact, information may have dated back two months or three months ago. On the contrary, a full MLS Long Island listing contains all the information and up to date.

If you’re a seller and want to put your property for sale in the MLS Long Island listing, what steps should you take? First, you need to hire a real estate agent. The real estate agents will then include your property in the MLS listing. However, in some MLS, they allow an agent to allow a property by owner for a small fee. Therefore there is a big chance of selling your property if they are included in the MLS listing.

houseHowever, we must remember that we not only find property listings in the MLS listings. In fact, many agents uses it to find data such as tax data, parcel mapping, market statistics, demographic information, transaction management, and many more. Imagine how it is before the advent of the MLS. Real estate agents and practitioners do not have the slightest idea where to find properties for sale. This is a great disadvantage for both the sellers and the buyers alike. On the part of the seller, buyer may not be aware that their property are on sale and missed the chance of getting a sale. On the other hand, on the buyer’s side, they might miss the chance of buying their dream property because they are not aware of its existence.

It was in the early 1800s that the first MLS was formed. Real estate agents, brokers and practitioners started to form associations. They would regularly meet to share information which property is for sale. If any of the members sold their property for sale, they all agreed to share on the sale of the property. So this is how the first MLS was formed.

Today, so much has changed from that time on. With the advent of the computer industry, everything is done on the internet. They no longer need to write down a long list of their properties to be shared with each member. Just one click they can now access the internet and find which properties are for sale. Today, in addition to learning their trades, many real estate agents are required to learn how to use the computer.

On the other hand, the MLS also had their own share of shortcomings. One of them is includes inaccurate data. We must remember that it is the Real estate agents who put the data on the lists. Therefore, just like any one of us they are only humans. They also make some mistakes just like any of us. Sometimes they put the wrong address on the list or wrong prices. Another shortcoming of MLS is inconsistency. Sometimes when you try to look for information in two different MLS sites, and the information you found are so different it is the agent’s job to find out how to verify these inconsistencies.

In conclusion, MLS can be a big help to the agents and the buyer / seller of property. If you’re looking for one you can find a lot of them on the internet.