Sellers want an effective way to market and sell their home or property, IMLS provides sellers with a real estate a platform that is comprehensive, accurate, and up to date. The IMLS helps sellers in the following ways:
Accurate and Up-to-Date Information: A notable advantage of MLS data is its accuracy and real-time updates. Unlike other online property listings that may become outdated or inaccurate, MLS data is constantly updated by real estate professionals. Sellers can rely on accurate information to get the most recent details about the real estate market, ensuring that they have the latest information at their disposal when making decisions.
Market Exposure: The IMLS platform reaches a broader audience, and increased exposure helps lead to higher visibility, increased inquires, and ultimately a greater likelihood of finding a buyer.
Representation and Communication: Real estate professionals can create compelling listings with the IMLS platform. This listing data showcases the home or property’s unique features, location, and specs. Real estate professionals utilize the IMLS platform and data to communicate with other members, making it seamless and streamlined to share information, schedule showings, and coordinate offers.
Comparative Market Analysis: MLS data gives sellers access to comparative market analysis (CMA) reports. These reports provide detailed information on properties, including sale prices, comparable features, and market conditions at the time of sale. CMAs help sellers assess the fair market value of their home or property. This information is invaluable during price negotiations and can help sellers decide what price point to list their home or property.
Citations:
- What’s an MLS? (2012, January 11). www.nar.realtor. https://www.nar.realtor/nar-doj-settlement/multiple-listing-service-mls-what-is-it
- Mls, C. C. O. (2023, August 21). CMLS Value of MLS_Seller_v06 [Video]. Vimeo. https://vimeo.com/580417245
- Ericson, C. (2022, October 4). What is the MLS? the multiple listing service, explained. Real Estate News & Insights | realtor.com®. https://www.realtor.com/advice/buy/what-is-the-mls-multiple-listing-service/