One of the keys to finding the home of your dreams lies in
the ability to understand real estate agency listings, and more importantly,
the ability to decipher MLS pages.
Let’s start with an overview of the MLS service:
MLS, or Multiple Listing Service, is a collection of
services that allows real estate agencies and brokers to establish offers,
disseminate property information, represent sellers, and generally work with
each other in a professional capacity.
The data stored in a MLS database is the proprietary
information of the broker associated with the property owner. Buyers and
sellers can find MLS pages via an Internet search, through either zip codes,
MLS numbers, or other identifying data.
Tips for interpreting important property information from
MLS listings:
Tip One: Look for
the price first. This should be prominently located near the top. Make sure it
matches up with the price on the for sale sign or the real estate agency
listing. If it doesn’t, ask questions.
Tip Two: Carefully
check the property information that related to schools. Again, if it doesn’t
match up with your understanding from the real estate agent, ask questions.
In fact, it wouldn’t hurt to contact the school district and
ask them to check the double check the schools for the address in question,
just to make sure. School information
can get miscommunicated to buyers, especially in areas where school district
boundaries and attendance zones are tricky. School districts are the final
authority, so it never hurts to find out straight from the horse’s mouth. This
is true even if you don’t have kids, since schools can affect your home’s
resale value.
Tip Three: Look
for other information. A real estate agency listing only has room for so much
info, but the details found on a MLS can provide further insight. Look for the
year the house was built, the tax district information, square footage, and
homeowner association (HOA) information.
For more information about real estate agencies, click here!
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