The Multiple Listing Service (MLS) is a system of collaboration between real estate professionals. It is a computer system that allows real estate companies and their agents to share information regarding the properties on the market. What is achieved in this way is that real estate brokers can search for properties based particularly on the requirements and needs of their clients.
MLS generates an association of real estate agencies and agents. They share properties of all kinds that have been captured exclusively. What forms that way is a bag of homes that all agents are able to access. It is a system based mainly on solidarity and collaboration between professionals.
Features of an MLS system
The MLS program is primarily designed to contain a list of properties available on the market, according to categories. These can be: type of property, type of operation, age, price, constructed area, location, among other possibilities. A large, easy-to-consult database is generated for collaborating real estate agents.
In turn, MLS contains a history of homes sold over a specified period of time. In this history, we find the date of when the transaction was made, the location, the price, among other things. This allows you to determine statistics and base values for future properties.
Through this system, real estate agents have the possibility to automate searches, being able to find out in real-time when a property comes out to the real estate market. The MLS system helps real estate agencies establish which properties can be shared in the system, which are kept private, among other things, giving exclusivity to agents with respect to competition.
What is shared exclusivity?
When an owner formalizes a real estate sales contract with a real estate agent associated with an MLS, he has an only direct and personal relationship with the agent with whom he is working. But, in reality, the property can be sold by any agent or real estate company that is associated with that MLS. Upon entering the system, the house becomes at all times the supervision and monitoring of the agent who caught it but with the possibility of being sold by other agents, which usually reduces the time it takes to sell the property.
Although the investment in advertising for that particular property is borne by the agency that captured it, the other partner agencies also advertise it on their websites and on the MLS website. For these reasons, they are all customer-facing advantages.
Why sell a property with an MLS?
Following the above, many are the reasons why it is beneficial to sell properties with an MLS. Some of the main ones are as follows:
- Increased dissemination of the property for sale
- Sales results in less time than usual
- Service regulated by code of information
- Increased trust among interested buyers
Why buy a home with an MLS?
From the buyer’s point of view, we can also highlight many benefits of searching for Real Estate with an MLS. Some of the most important are:
- A very wide range of selected properties are accessed, suitable according to the criteria and preferences of each buyer, in a comfortable, fast and simple way
- The options that the buyer can access are considerably multiplied even if served by a particular agent.
- All properties on the MLS common exchange maintain the same prices and conditions, regardless of the agent or real estate agency
- It’s a transparent and reliable system.
- There is a sales mandate formed with the owner of each property that is on the MLS exchange, so you have all the legal and administrative information of each of them.
Benefits of MLS Acobir
In Panama, MLS Acobir has the most reliable and secure property inventory in the country, both for sales and rental options. MLS Acobir not only guarantees zero duplication of properties but also transparent and market-according prices. In addition, more than 400 real estate agents and more than 200 agencies are part of this system. From this system, buyers can access the only property map in Panama, which provides the ability to filter by specific conditions.