The age of information has helped real estate brokers work with people interested in both buying and selling property. As you may imagine, there are many concerns property owners have when putting a property up for sale. Those concerns manifest into all sorts of questions. Questions such as, “Where will you advertise my property?” and “How often will you advertise my property?” are really the seller asking, “Will all possible buyershave explicit knowledge of my property?” What is the value of the MLS? The MLS, even prior to the advent of the Internet was and remains the most effective method to insure maximum exposure of a property to a maximum number of potential buyers. Clear and simple, assisting sellers in getting the most money for their property is the goal of a listing broker. Open willingness amongst brokers to share their inventory of “exclusive listings” on the MLS demonstrates this guiding principle. There are very few -if any- plausible reasons for a broker to withhold a property from the MLS. Highest price and best buyer comes from full market exposure. In all my years, and after hundreds of listings, I have yet to come across a property owner who didn’t want the most money they could get for their property.
The use of the MLS in the residential real estate industry is only as good as those who participate in its use. As of late, many times a week “new” listings come up as pending (in escrow). What we’re seeing in many of these cases is what is referred to as “insider trading”. Insider trading is a term is typically related to the trading of stocks/securities. It has been clearly determined, and reaffirmed by law time and time again, insider trading results in an unfair advantage to few and disadvantage to many. Simply put, a person must be willing to convey economic harm or damage to others for the advantages, which follow from inside knowledge.
There is a tremendous amount of harm being done to property owners by unscrupulous investors and real estate agents. That harm results in property owners potentially leaving tens of thousands of dollars on the table. This circumstance typically arises when a property owner is convinced by real estate professional to sell their property withoutthe benefit of the MLS. To reiterate a point from before, there is rarely -if any- a valid reason for a property owner to hire a professional who won’t use ALL the tools and methods proven to attain top value when selling a property. The MLS is the #1 tool/method to attain top value when selling a property.