MLS?????? - Posted by Scott(WA)

Real Estate Investing
#1

Posted by ken in sc on February 20, 2001 at 09:31:19:

In my area there is only one MLS. There must be a Broker-in-charge for your company to join. There is a $2,500 initial membership fee and then 1/4ly fees of around $200.00.

The MLS computer has so much info, I cannot imagine working without it. If you want to do volume, you need access to this info. I am a member and while I hate the fees, it is great to have it here at my office. I have sales, listings,expireds, and assessor data at my finger tips and can tell what a property is worth (roughly) before I get in the car to go there. One idea is to contact a small real estate company or appraisal firm and see if you can work a deal with them and save the join up fees.

#2

MLS??? - Posted by Scott(WA)

Posted by Scott(WA) on February 20, 2001 at 04:02:05:

Are there any realtors out there that will tell me all of the capabilities of the mls as far as search features, expired listings, ect.? How much information is there in the typical listing as to the seller, property condition, motivation, ect.? Does a listing give a contact # for the seller? Does the mls vary much from one provider to another? In my area I see at least two different mls companies.

How strict are the mls companies about who can get access? Could I call them and ask to subscribe? What documentation will they ask for? Can an escrow or title company get access?

I am just trying to examine all of my options. I’m not sure if I want to get my realtors license but I think that mls access would be an asset! Thanks in advance to anyone willing to shed some light on this subject for me!

Scott

#3

Thanks - Posted by Scott(WA)

Posted by Scott(WA) on February 21, 2001 at 04:06:34:

Thanks for the insight guys. I’ll definetly start talking to some of my contacts about getting in through them. Sounds like having access is a must!

#4

Re: MLS??? - Posted by Mike C

Posted by Mike C on February 20, 2001 at 10:52:17:

I’m a broker with MLS access on my computer. I can’t imagine buying property without it. In addition to the items listed by Ken in SC, some MLS’s will allow you to download listings into other software. Then you can do key word searches (motivated, seller financing, vacant). If you have alot of listings on the system, this can be a great way to start. Another feature is a hotsheet or update that gives you all of the activity since your last search. This helps you stay up to date with activity in your market. I read the descriptions every morning looking for signs of flexibility. Next, I scan the owner of each listing and look for REO’s or corporate owners who might also be flexible. I can think of many more uses of the MLS but those are my highlights.