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The Multiple Listing Service
Everyone who
has even a passing interest in real estate might have seen or heard of MLS.
But very few know exactly what MLS
is or understand the important role it plays in the real estate industry.
The
MLS system,
also known as the Multiple Listing Service is a complex information-sharing system and a cooperative marketing network
created by PAREB (Philippine Association of Real Estate Boards, Inc.)
to help the public buy and sell homes. While it is computer-based today, it began as an exchange of paper listing information
and photographs.
The MLS is a member-based service. PAREB members gather direct
listings and pool them into one database, the local MLS system, which PAREB administers and operates. The local MLS system
is linked with the MLS systems
of other PAREM Member Boards thereby creating a bigger system, the national MLS system, which the Philippine
Association of Real Estate Boards (PAREB) administers and operates. Member boards' MLS system is linked
with other national MLS systems.
 PAREB (Philippine Association of Real Estate Boards) exchanging WANTED and FOR SALE/RENT properties
during in one of its MLS Congresses held quarterly.
MAKE SURE YOUR REAL ESTATE BROKER USES
THE MLS.
When your
Real Estate Broker is duly licensed by the Professional Regulation Commission (PRC) and uses the MLS and
you give him/her the exclusive authority to act as your selling (or buying / leasing) agent, he/she will input your
requirement in the MLS. That means detailed information about the property you are selling
(or buying / leasing) will be broadcasted to all PAREB Member Boards. Dealing with one PAREB member will be like
mobilizing all the PAREB members to find you a buyer. Your property or requirement will get maximum marketing exposure.
You can expect inquiries from different licensed brokers to come your way.
If you are selling, leasing out or buying a property, check whether your real estate broker
is PRC-licensed and is using the MLS.. Because if he does and you give him the exclusive
authority to act as your broker, he will input your requirement in the MLS. That
means your search criteria on the property you are buying will be broadcasted to all PAREB members.
Same thing as when you are selling or leasing out your property. Dealing with one PAREB member will be like mobilizing all PAREB
members to find a property to buy. Your requirement will get maximum exposure. You can expect listings from different PAREB
members to come your way.
All
participant PAREB member to the transaction can only be too glad to contribute to the satisfaction of your
requirement. After all buying, selling and leasing real estate property is their business, and the MLS symbolizes co-operation
and fellowship among PAREB members. We
can only be too glad to entertain offers from other PAREB members,
even if they come from other Boards. It will hasten the satisfaction of your requirement. And the sales commission, if ever,
will be divided between the selling broker and the buying broker.
The MLS is
more than a research tool for property listings. It actually is a comprehensive compilation on real estate information
and services that supplements PAREB Member''s in-depth knowledge of the current market and neighborhood conditions,
which he uses to help his clients come to a knowledgeable choice. Needless to say, the MLS has
proven its value over the decades.
As of November 2011 there are almost
4,000 PAREB members (some PAREB members are not MLS members as they are into project selling
selling exlusively to their employer-developers) of the MLS and growing. List with us now and get more exposure for your property or get your property requirements faster.
-- Excerpts fromhttp://www.realtor.org.ph
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