Whether you buy or sell a Tulsa property, at some point, you will probably hear the term “MLS”. Short for Multiple Listing Service, it proves helpful to both the home buyer and seller in different ways. But have you ever wondered what exactly it is and what role it plays in the real estate transaction?
What is the MLS?
First things first. The Multiple Listing Service is a database full of homes for sale by agents representing sellers in a specific geographical area. Each area utilizes its own form of this service. This allows all other members of that service (agents, brokers, etc.) to view all of those listings. It also grants the exact same access to all of this information to both large brokerages and individual agents, which helps level the playing field so to speak.
How Does it Help Home Sellers?
By listing your Tulsa home on the MLS, your property gains a much wider audience. When you cast a wider net, your chances of finding a buyer go up. That is always welcome.
How Does it Help Home Buyers?
Well, when you work with a Tulsa REALTOR®, they have access to the MLS at any time. Unlike public search sites like Zillow and Trulia, agent access provides special information that only real estate professionals can see. This includes special instructions about showings, entry to the property, and even offer submission info. A good agent may use this knowledge to help you craft a winning offer.
You must be a real estate professional with a current membership to the local Multiple Listing Service in order to access it. Individual sellers (“for sale by owners”) cannot list their property there. You also will not find pocket listings here (properties for sale that the sellers do not want the general public to know about). But a knowledgeable agent with great connections may be able to help a buyer find those as well. When you want to buy or sell a Tulsa home, contact me.
Lori Cain, REALTOR®, Serving Midtown and the greater Tulsa, OK area. Call 918-852-5036.
