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The whole idea behind flat fee real estate commissions is centered around
all powerful and members-only MLS system. Here's a little history:
The term “multiple listing” dates back to end of 19th century! The first Boards of REALTORS® were established as “Real Estate Exchanges.” The Members of a Board of REALTORS® gathered at Board offices and “exchanged” information about their listings similar to today’s office sales meetings. During 1880s and 1890s, sales of broker-listed properties were conducted on behalf of principals. Records of this type of sales meetings date back as early as 1907.
The practice of “multiple listing” expanded from 1920s to this date in form of Boards of Realtors or Regional Multiple Listing Services for members only. Multiple Listing Service systems throughout United States share their listings with Realtor.com, official web site for National Association Of Realtors Realtorâ.com receives millions of hits each month. This type of traffic implies huge exposure of properties for sale to online homebuyers.
It’s not uncommon for individual MLS systems to boast over $400,000,000 in volume per year or approximately 4,000-5,000 contracts.
The MLS system, which is secure, private and accessible by over 900,000 agents, 7 days a week, 24 hours a day, via Internet, wireless or by email. Another example, in Michigan, Realcomp II Ltd. MLS boasts more than 11,700 Realtors carrying approximately 38,000 properties listed for sale at any given time! Utah’s Wasatch Front Regional MLS carries an average of 14,000+ properties, collectively.
The Multiple Listing Service is a powerful and sophisticated database of listed properties. The North Carolina Association Of Realtors boasted 91977 Units sold in 2003 and over $17,018,876,287 in volume same year! Your listing description on MLS is very much pre-formatted for database input and is primarily detailed for Realtors to see. Abridged versions of your listing information are available to public when your property is listed on Realtor.com and a collection of other satellite sites that mirror MLS listings from around country. Other sites that feature MLS listed properties include:
• Cyber Homes • HomeAdvisor • Homes • HomeSeekers • Realtor.com • Yahoo
Savings are just a click away when it comes to selling your home!
Mario Giordani is a successful real estate agent in Salt Lake City, Utah and runs over 30 different web sites, including http://flatfeereport.com. He has been marketing online since 1993. Sites dealing with real estate, home sale marketing, domain name registratio for for sale by owners, flat fee MLS marketing, real estate commission savings.
