How to Use the MLS to Get Real Estate Leads
29/11/07 12:22 Filed in: Generate
Leads |
Real
Estate
The Multiple Listing Service or MLS is a marketing
database set up by real estate agents - usually a
group who agree to co-operate. It contains
information that is accurate and up-to-date about
properties that are available for sale. Each MLS must
have rules and regulations for ease of use and these
vary, depending on whose MLS it is. Frequently the
rules are similar to those established by the
National Association of Realtors.
Who uses the MLS? Both listing brokers and buying brokers use it to great advantage. Since it is available to many more brokers and thus covers a larger area, the buying broker may find in it just what he needs for his customer. The broker who listed the property then offers him compensation.
While realtors primarily use these databases, owners who wish to sell their homes privately (that is, without using the services of a realtor) may also list them on the MLS. This is where it is possible for the realtor to get good real estate leads. You know this person is selling their house, so they must soon need a place to live, whether it is rental accommodation or whether they intend to purchase another home.
While they may have intended to do all the hard yards in selling and buying, they can easily find that the task is too much for them. If you have put your name and contact details in front of them, you will be the first person they contact for help.
The leads you get from MLS can be considered hot leads, since the person is definitely selling or buying, or both. The MLS can be used from both buying and selling perspectives. You may have a customer who wants a certain type of home that you’ve looked everywhere for and just cannot find. Everything you offer him or her seems unsuitable for some reason. Then you come across just the thing on the MLS.
Even though the seller intended to sell privately, he will accept your offer for the speed with which it came up and he is still in pocket, since it doesn’t cost him as much to sell through the MLS. You still get a small fee; your customer is happy enough to give you a referral and very likely so is the person who is selling. So there are three happy people doing business quickly and easily through the MLS.
Who uses the MLS? Both listing brokers and buying brokers use it to great advantage. Since it is available to many more brokers and thus covers a larger area, the buying broker may find in it just what he needs for his customer. The broker who listed the property then offers him compensation.
While realtors primarily use these databases, owners who wish to sell their homes privately (that is, without using the services of a realtor) may also list them on the MLS. This is where it is possible for the realtor to get good real estate leads. You know this person is selling their house, so they must soon need a place to live, whether it is rental accommodation or whether they intend to purchase another home.
While they may have intended to do all the hard yards in selling and buying, they can easily find that the task is too much for them. If you have put your name and contact details in front of them, you will be the first person they contact for help.
The leads you get from MLS can be considered hot leads, since the person is definitely selling or buying, or both. The MLS can be used from both buying and selling perspectives. You may have a customer who wants a certain type of home that you’ve looked everywhere for and just cannot find. Everything you offer him or her seems unsuitable for some reason. Then you come across just the thing on the MLS.
Even though the seller intended to sell privately, he will accept your offer for the speed with which it came up and he is still in pocket, since it doesn’t cost him as much to sell through the MLS. You still get a small fee; your customer is happy enough to give you a referral and very likely so is the person who is selling. So there are three happy people doing business quickly and easily through the MLS.