MN MLS- What is it and how does it work?

What is MLS?

MLS stands for mult iple listing services. It is considered as a very important service in Minneapolis real

estate and it is also termed as the ‘centralized co-operative market ing system’. MN MLS is arranged by

gathering data collected by the realtors. With the help of this data, it becomes easier for buyers and sellers

to sell/ buy their properties. This information is considered as a great source of information for both buyers

and sellers that helps them to make an in formed decision.

How does it work?

With MN MLS data base, it becomes very convenient for sellers and buyers to know what is available for

them at a g iven time. Minneapolis real estate agents developed MLS which eventually made the agents

more productive. Whenever you list your property online on MN MLS, every real estate agent in your area

would be able to see it.

Two agents are involved in this whole process - First is the listing agent (the one who puts your property on

MLS) and the second one is the real estate agent (the one who actually sells the property). The commission

is usually split between the two agents which is generally around 6%.

By listing your property in M LS, you will expose your property to millions of buyers and real estate agents

with images of the property. This method is much quicker than walking down to a real estate agent and

going through the whole process.

Benefits for buyers -

Earlier, buyers had to work with various companies in order to go through all the available

properties. Now, there is no such thing required.

Any sales person with in MN MLS will have access to all the listed properties. So buyers don’t

need to work with different companies or agents.

Buyers can form a closer relationship with trusted sales person and they can depend on them for

the coverage of entire market.

Benefits for sellers-

When MLS services weren’t there, companies use to sell their own listings and no other

companies were allowed to access them.

Companies now agree to share their listings without any need to ask permission to show or sell.

Any sales person can have access to all the properties in MLS.

For more information about MLS, visit- http://fishmls.com/