In Elkhart County, Indiana the Multiple Listing Service, also known as MLS, means a computerized listing of virtually all the homes that are for sale in a specific area.
When a REALTOR lists your property for sale, he or she pays a fee and your home is placed on the MLS system. The big advantage to Sellers is that the MLS is the Number 1 resource used by Buyers (and REALTORS) to locate homes. Properties that are not listed (usually those being sold by their owners) are not on the MLS, thus there are many Buyers and REALTORS who will not be exposed to the homes.
The MLS has become such a standard in Elkhart County Real Estate that no serious Broker would think of trying to sell Real Estate without it. It would be like an accountant trying to work without a calculator. About the only residential Brokers who might not use the MLS are those who exclusively handle forclosed properties or high-end homes owned by celebrities and the like.
The MLS provides a surprising amount of detail and may include the location (by ZIP code): size of the home (square footage); size of the lot, number of bedrooms and bathrooms; extra rooms such as a den, family room, formal dining room, or enclosed pation; amenities such as a backyard, fireplace, hot tub, pool, kitchen features, new carpet and drapes; capacity of garage; age of home; and, of course, the selling price and terms.
Buyers can narrow their house-hunting searches dramatically by using the MLS. For instance, their sales professionals can do a computer search and ask for a listing of all homes eithin a certain location and price range that have two or three bedrooms and that are not more than 10 yars old. Not only will this requiest generate a brief list of viable possibilities, it also helps Buyers gauge, roughly, what they can expect to get for their money and to compare the value of the homes listed.
Thus, the MLS is more than a system that lists properties. It's an aid to both Buyers and Sellers and is a definite asset to consumers when it comes to Real Estate. Elkhart County REALTOR Evelyn Johnston with Prudential One Realty is a member in good standing with the Elkhart County Multiple Listing Service. She can be reached by both Buyers and Sellers with Real Estate questions at 574-304-7148.
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Evelyn, buyers do find it reassuring that because of the MLS service, they can stick with one buyers agent to represent them and show them houses despite the company or agent that has a house listed. But despite how long the service has been around, I still find that many buyers are confused by this fact. So many buyers are under the impression that the only one who can show them a house is the agent who's name is on the sign--which simply isn't true.