MLS is an organization managed by an association of REALTORS® and paid for by dues from member REALTORS®. It's purpose is for REALTORS® to cooperate and share information for the benefit of home buyers and sellers. Some of the information is proprietary and not intended to be available to the general public. Because of all the research and input from local REALTOR® the MLS is the most accurate and complete information on the local real estate market.
Often people ask why the public isn't allowed access to MLS. First, REALTORS® swear to a higher code of ethics by which they are held accountable.For any unethical conduct, including that related to MLS, they may be penalized or even loose their license.Those rules are in place to protect the public and if MLS was available to the general public it would be accessed by those accountable to no one and fraught with fraud contaminating all information which REALTORS® use to benefit their clients. Second, REALTORS® pay membership fees to support the system. It's not a free public service through which REALTORS® have harnessed exclusivity. Third, there is proprietary information that is not public information which REALTORS® are allowed access to for the beneit of their clients based on agreements of accountability. You may want access to that information but do you want everyone to have access to your information?
When you sign a listing agreement with a REALTOR® you may agree to allow the REALTOR® to post your listing on MLS. There is a standard format that all REALTORS® use. Then buyer's agents will access MLS to search for appropriate properties for their buyers or gain information to assist their sellers. Not all real estate agents have access to MLS. Only those agents who have become REALTORS® because a REALTOR® is a member of the National Association of REALTORS® (NAR), has sworn to that higher code of ethics and pays membership fees to the association.
In Austin, the MLS also posts a home search Web site http:www.austinhomesearch.com for the consumer. It's a great tool for buyers to begin their search and familiarize themselves with nieghborhoods and prcing. The proprietary information is not included. Nationally, http://www.realtor.com serves the same purpose. It's sponsored by NAR and contains useful information for buyers and sellers.
Research shows that sellers who list with a REALTOR® and are posted on MLS achieve a 20% higher valuation on their home.
In Texas, real estate agents are required to provide a minimum level of service to clients so they may not just post your listing on MLS for a minimal fee and leave the rest to you. If a REALTOR® lists your home on MLS, they must also help you evaluate and negotiate offers you receive. There are huge benefits to using a full-service agent because their education a nd experience is working for you and they are working in your best interests.
If you are thinking of buying or selling a house, I want to be your REALTOR®. To find out more about how I can help you as a full-service agent, call me at 512.589.7988 or robin@robinscottrealtor.com and to search for properties visit http://www.robinscottrealtor.com
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Buying or selling? Hire an experienced professional. Call Robin Scott, Broker at 512.589.7988.
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