More Reasons Why Choosing the Right MLS Can be Crucial if you Want your Madeline Island Home to Sell
[Household income and median home price figures provided below come from the most recent United States Census data. MLS participation numbers from NAR Realtors Property Resource website.]
Hennepin County (where NorthstarMLS originates) median household income: $61,651
Median home price in Hennepin County (MN): $248,600
Hennepin County, Minnesota(NorthstarMLS) participant members: 13,500
Now let's compare the NorthstarMLS primary service area with that of SAAR..
Douglas County Wisconsin (where SAAR originates) median Household income: $42,656
That's 69% of the median income for Hennepin County, Minnesota
Median home price Douglas County: $124,000
That's half the median home price where NorthstarMLS is most widely syndicated in IDX sites.
Douglas/Bayfield/Ashland County (WI) SAAR MLS participant members: Fewer than 500
Let me add that over 70% of Madeline Island second home buyers come from the Minneapolis - Saint Paul metropolitan area.
Why do brokers belong to an MLS service?
By belonging to an MLS service brokers expose their company listings to participating brokers and agents of other real estate companies. The more IDX sites available for a company's listings to appear, the more exposure those listings receive.
More MLS members (in a large MLS, such as NorthstarMLS) means more Broker Reciprocity (IDX) participants, which means your listing in that MLS shows up on more websites.
Agents, would you rather see your listings syndicated to 13,500 company and agents sites via IDX, or would you prefer those listings just appear on a few hundred sites?
Wouldn't you rather see your listings appear on agent sites where most of the likely buyers for properties in your area live and work?
Sellers, if you're hoping to sell a lakeshore home, wouldn't it make sense to concentrate your marketing in an area where prospective buyers are more likely to be able to afford your property?