If you know anything
about real estate market and how it functions then you must also know
about MLS. it stands for Multiple Listing Service. You can think of
this listing system as a kind of arrangement with which hundreds of
realtors work together and help each other out so that buying and
selling process gets easier for each one of them. During the late
1800s, brokers used to gather at their local associations and offices
to share information and data related to the kind of property they
were trying to sell.
That was the first time
that brokers collectively agreed to helping each other out by
compensating whoever helped another in selling a property. This is
how the first MLS came into effect. This whole arrangement is based
on a very unique and fundamental principle that is very organized and
unique to the real estate. The basic idea is to compensate a San
Francisco realtor who helps sell another realtor's inventory. It is
basically a network with which agents share information about
properties being sold and bought on a consistent basis with one
another.
Today there are above 800
different listing systems. Any San Francisco realtor can use that
information system and invite other professionals to corporate with
him in exchange of certain compensation. If one realtor is trying to
sell a property others will help him find buyers using their own
personal database and list of interested buyers. Sellers get help by
getting their properties the kind of exposure they want. Buyers on
the other hand get to benefit as they obtain maximum information
about the kind of properties they are searching for and all the
useful information. This is the whole concept behind MLS listings.
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