If buying or selling a home in Amarillo, Texas is a step you’re taking in the near future, chances are you’ve started talking to a real estate agent. If so, you have most certainly heard of the term MLS. This term is common and is used to describe an important system for completing the real estate process. It is important that homeowners and home buyers understand what MLS stands for, how this system works, and what the alternatives to MLS.
What does MLS stand for?
MLS stands for Multiple Listing Service and it is the backbone structure of real estate brokers and agents. MLS is actually a database of every home in a geographic region that is for sale by a real estate agent. There are over 800 separate regional and locally owned associations throughout the United States. Amarillo real estate agents and brokers pay into the association through dues which allow them access to the listings. However, each association is responsible for their own listings, their own website, and their own marketing.
How does the MLS system work
When Amarillo homes get put onto the market, a real estate agent inputs the information about the property into the Multiple Listing Service system. The system generates an MLS listing number and that number is attached to the home until it’s sold. Real estate agents and brokers can access the property from their MLS computer program and show prospective buyers the data on the property for sale.
Alternatives to the MLS system
There are alternatives to the MLS system, although none that have as far a reach. If you decide to sell your house without an Amarillo real estate agent, you are not entitled to an MLS listing. However, there are a few self-listing representatives that get you an MLS listing. These organizations can be found on the internet. Homeowners are allowed to list their properties on the Multiple Listing Service system through these organizations after certain fees are paid. Knowing that over ninety percent of real estate professionals have access to your home for sale is important in the current real estate market.
The Amarillo real estate specialists at Elite Real Estate Group can help you with buying or selling homes. We serve buyers and sellers in many Amarillo and surrounding areas, including Bushland, the Colonies, Tradewinds, Canyon, Hillside Terrace, the Greenways, City View, Puckett, and more. To learn more about our services, give us a call at (806) 337-0883 or Contact Us by email. View our listings today to see properties that are currently on the market!