How to Use an MLS Agent
MLS stands for multiple listing services. Typically, each home, lot, or commercial building listed by a real estate agent will be added to the MLS database. Only real estate agents and other professional affiliates can access the MLS, which is why it is favorable to use an MLS agent. MLS agents consist of not only licensed real estate agents, but also real estate brokers and online firms, as well.
Other People Are Reading
Instructions
-
-
1
Ask for a referral. When trying to locate a real estate agent that uses the MLS system, friends or family make a great place to start. Ask your neighbors, co-workers or friends for the name of the real estate agent that they used when buying or selling their home. If that agent is not available at the current time or is not in the same location, they are usually delighted to send you a referral for someone they know.
-
2
Verify that the MLS agent is licensed. Each agent assisting a buyer or seller with the contract of a property must be licensed by the state they practice in. This is to ensure that the correct procedures are followed should any legal issues arise. A simple search can be done by entering the licensed agent's name or license number in the corresponding states real estate commission website.
-
-
3
Determine if you prefer a real estate salesperson or a broker. While all agents must be licensed to practice real estate and enter their listings into the MLS system, there are several levels of expertise. According to the Texas Real Estate Commission, each real estate broker is legally responsible for all acts and conduct of a real estate salesperson sponsored by the broker. In addition, a broker must complete more than triple the amount of classroom hours as those required for a salesperson license.
-
4
Search your local state real estate commission listing. All real estate agents must be licensed through the specific state that they practice in, and once registered are added to the commission's directory. A search can be conducted by agent's name, broker they practice under or location.
-
5
Don't overlook your weekly local newspaper. Research your local newspaper. In the real estate section, you will notice the various listings from agents and firms. If you find someone you are interested in, you can do further research about the individual agent or firm through the company or individual agent's website.
-
6
Contact an agent or real estate firm. If you are interested in a specific agent or expertise, it is best to speak with the agent over the phone or in a face-to-face meeting. You should look for signs that your agent is proactive in marketing through the MLS system, interested in meeting your needs and successful with their sales history.
-
7
Inquire about the agent's fees. It is customary for a real estate agent to expect a 3% commission on buying or selling a home, and 6% commission if they become a dual agent. While this number is a standard, many times commission rates can be negotiated depending upon the brokerage firm's policy that the agent is listed with. However, you don't want to sacrifice quality by paying a lower fee since ensuring that your agent will market properly, list your property and search the MLS system for potential homes is of utmost importance.
-
8
Search for an online broker. If you are looking to hire someone virtually or want to access the MLS system to review properties for sale, then you can register and use the resources of an online service. Businesses such as MLS Online will allow you to register and search their database. If you find a property you are interested in viewing in person or need assistance selling your home, the firm will connect you with a local agent who can expedite your request.
-
1
Tips & Warnings
Ask about negotiating fees to save money.
The top producer may have the top dollar sales, but less time for clients.
Ensure the agent you choose is licensed to avoid any legal situations.
References
Resources
- Photo Credit Jupiterimages/Comstock/Getty Images glasses and newspaper image by hazel proudlove from Fotolia.com
