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Houses for Sale in Brampton: Making the MLS® and REALTORS® Work for You

 

Houses for Sale in Brampton: MLS® Listings Understood

An extensive resource for those looking to buy real estate is the Multiple Service Listing (MLS®). MLS®systems, according to the Canadian Real Estate Association (CREA) are cooperative selling systems by real estate boards and associations across Canada. The listing service was developed more than 100 years ago, and there are more than 900 different services operating around the continent. MLS® systems contain many different search variables and provide buyers with an extensive listing of potential homes and properties that fall in line with their search criteria. These listings are also accessible to REALTOR®members of these different boards and associations. The REALTORS®have agreed to represent the owner of the property’s best interests and use the listings to help them to find a home. This database helps to sell houses much more quickly than if they were to try to market it independently.

 

Realtor.ca vs MLS®

Many buyers and sellers use a website in Canada developed by the CREA for marketing purposes. This is often mistaken for an MLS®listing, but it is not. Realtor.ca is a website that REALTORS®use to promote different properties that are for sale. The content on realtor.cacomes from MLS® listings, but the public does not have access to these directly.

 

For example, a potential buyer looking at houses for sale in Brampton logs onto realtor.ca to check out the market. A REALTOR®from JN Asensio, (a Brampton based real estate office,) has posted a property that falls within the buyer’s search criteria. Without the use of a REALTOR®, the buyer can look at these homes and create a "wish list” so they can follow up with their own agent. That does not mean the buyer has accessed the property directly from MLS®… they have accessed what the REALTORS®have chosen to promote.

 

Benefits of the MLS® System

This is why it is important to have a REALTOR® working with you. That same agent from JN Asensio has access that unlicensed agents do not have by using the MLS® system. They know the market, know the community and can concisely create a list that meets the expectations of the client. Here are some advantages of the MLS®system and how it helps sell homes:

  •        Sellers expose their property to thousands of potential buyers through the database.
  •        Buyers have access to listings that match specific criteria they input to help find their dream home.
  •        Saves time and legwork for REALTORS®– which means that properties sell quicker by using the MLS®system.
  •        The listing is updated daily and continuously showcases     new properties on the market.
  •        Provides comparative market analysis (CMA) so REALTORS®have a clear picture of property value in specific neighbourhoods.

The MLS® system also compiles data for reporting that consumers and sellers can use as resources to understand the market. This includes the average price per home in different GTA cities and how long properties have been on the market. The listing also breaks down these statistics by property type (detached, semi-detached, town house or condominium.) The MLS® system is a wealth of information that REALTORS®have access to. The service is there so REALTORS®can help you buy or sell your house. Your local agency, like JN Asensio, can provide you with the best information and ensure that you are comfortable with your decision!