What is MLS? It’s advertising your Albuquerque home!

What is MLS? It’s advertising your Albuquerque home!

(Transcript Snippet): “Tracy:

Yeah, so it’s interesting because we did have another question this week and I thought, of course we use in real estate acronyms all the time, but the question was what is the MLS and Tigo happens to be very familiar with that?

Tego:

Yeah. So, I mean, I, I would, I would address this, this answer to home sellers, so they understand, you know, what is the MLS also known, or really it’s the multiple listing service. It’s the M L S and what it does, it is a marketplace for homes. Okay. So this is the place where every home that gets listed for sale in a particular area, um, all the realtors that are member of this MLS, they put the homes in there and it’s a marketplace. And what it allows is the, the home, the property to be distributed to all the realtors in the area, all the potential home buyers, because what happens with when, when a home goes into this, this database, the multiple listing service database, it now gets sent out to all these national websites, realtor.com, zillow.com, homes.com, all the individual realtor websites. And so now you, you w we need to think of that. The MLS is a marketplace where everybody can go to see what homes are available for sale. And the beauty of that for a seller is you are getting maximum exposure to as many potential buyers as is possible. And that’s what you want. If you’re a home seller, right?

Tracy:

Do people sometimes opt out of having their home advertised in the multiple listing

Tego:

People do, and that is an option. Um, I would never recommend it to somebody.

Tracy:

What about for sale by owners? Well,

Tego:

Yeah, in, and that, that that’s fine. Um, for sale by owners, there is some options for somebody that wants to sell their home themselves, which, which they can do. I mean, you don’t have to be licensed in New Mexico, a licensed real estate agent to sell your own property. Uh, boy, that’s, that’s a whole nother conversation, but the point is, um, you could pay a flat fee to have your home put in the MLS. So at least it gets exposed if you are selling it for sale by owner. Um, obviously, you know, we think working with the real estate agents is going to get you the best. And there’s been tons of research and studies out there over the years that, that talk about, you know, working with a real estate agent, a professional real estate agent that really has the experience to, uh, present your property market.

Tego:

Your property is going to get you the most, uh, net out of your, your sale. So anyway, the MLS does marketplace homes go out there. It gets distributed to all the agents, all the clients of all those agents that are looking for homes, it goes out to all these national websites. So you’re going to get maximum exposure on your home. And, and that way, you know, you know that you’re not just getting an offer, maybe from one person. That’s the only one that’s seen the home. You’re actually creating some competition, especially in today’s market, where you have a bunch of buyers out there just waiting for the right home to come on the market. Great.

Tracy:

Thank you for that summary. Yeah.