In the past, buying or selling a house begins through word of mouth or newspaper ads. Thanks to the Internet, most real estate transactions are now carried out through multiple listing services or MLS. This technology benefits both parties in the sale of a residential property through a number of ways.
Buyers take advantage of MLS listings in order to learn more about prospective properties for sale in a particular area. Specifically, they look up the house’s exact dimensions, the number of rooms, amenities, and other pertinent information that can influence their decision. Listings can also provide pictures or a video tour of the properties on sale so that buyers don’t actually have to visit the properties in person to see what these look like.
Sellers, meanwhile, benefit from MLS listings because they get greater exposure for their properties, thereby increasing their chances of finding a buyer. The MLS itself also shoulders much of the marketing efforts since every house listed on it is also promoted by every real estate agent who uses that particular list. Sellers who put great stock in privacy can resort to ‘pocket lists’, although these may not attract a lot of potential buyers compared to an MLS.