The MLS, or Multiple Listing Service, is an extensive
database of homes for sale, land/lots for sale and rental homes listed by Realtors®. It is made up of
Broker members who agree to share their listings with one
another in the hopes of procuring ready, willing and able tenants for their
properties more quickly than they could on their own. There are actually several hundred MLS databases
throughout the United States, but there is usually only one per local
area.
Many of the MLS's now share
paraphrased versions of listings with public internet sites such as
Realtor.com. This leads many people to
believe they are viewing the actual MLS when searching for homes on
Realtor.com or the like. However, only licensed agents who belong to
the MLS system have access to actual full-version MLS listings.
Why
do I Need the MLS?
Agents provide a great deal of information
for renters and many renters rely on agents to give them vital information
about rental properties. A large part of the Realtors®
job lies in finding properties that suit the renter's criteria. With the
MLS, a Realtor®
can search homes for rent that suit their renter's budgets, location
preferences and other requirements. From the MLS they are able
to quickly put together a list of suitable homes. The renters that
Realtors®
work with are ready, willing and able to rent a home, and as most home
owners know, finding a serious, qualified tenant is one of the hardest things when
renting your home. By listing your home for rent in the MLS, you will get
great tenants, pre-qualified by the Real Estate agents working with them.
The internet is quickly changing the way homes are
rented. For renters not wanting to use a Realtor®,
public internet sites such as Realtor.com allow them to view short-version
listings of homes that
are currently listed for rent in the MLS. However, as a home owner, the only way to have your home
listed for rent on these public websites is by first being listed in the MLS. The
MLS system, then in turn, transfers your listing to the various public
internet sites.
By
listing your home for rent in the MLS you will be opening up a world previously
unknown to For Rent by Owners. Not only will local Realtors®
have access to your listing with their qualified renters, but millions of
people all over the world will be able to view your house for rent. Using
the MLS cuts through the complexities of renting your home yourself,
exposes your property to those most likely to rent it, and makes sure
you won't waste time showing your rental property to those who aren't truly
interested in renting it.
