Multiple Listings Service (MLS) are databases that are created, retained, and paid for by professionals in the real estate industry to help their clients sell and buy property. Access to the kind of information held on these listings is in most cases provided free-of-charge to the public by participating real estate brokers.What is not made publicly accessible is normally the kind of data that would endanger the safety or privacy of the sellers such as contact information or specific times when the property is vacant for public showings.
The MLS have for many years been a very effective tool employed by real estate agents in helping their clients in selling or buying property. Vancouver commercial real estate brokers make their commissions from the successful sale of properties they have on their lists.
Comparative Market Analyses (CMA)
In case you've ever sold or bought a property, probably you've heard your real estate agent or broker talking about comps. What is being referred to is the comparative market analysis (CMA) or other similar properties in a specific area.Your agent will carry out such an analysis prior to recommending a suitable asking price for your Vancouver commercial property. If you are buying, CMA will help your agent in establishing what properties should be shown to you based on your individual price range. The agents procure such from the MLS.
The Vancouver commercial real estate listings are updated daily offering the benefit of timeliness. They continually display new commercial properties entering the market. Today, technology has greatly enhanced this advantage by making the information even more current.
The Future of Multiple Listing Service
The advent and growth of the Internet has completely changed the working of Multiple Listing Service. At one time, it was only Vancouver commercial real estate brokers who saw and controlled the property listings.The Internet has now turned the whole system more into a consumer-friendly marketplace. As a buyer or seller, you can now access and view all the properties that are publicly listed on the broker’s website.
This emerging trend has greatly made the playing field level between sellers/buyers and their agents, challenging the long-time monopoly of the Multiple Listings Service (MLS).
(Multiple Listing Service (MLS): What Is It, Realtor.com)
(What is Procuring Cause?, About.com)