With today's technology, searching for homes online is easy so people often ask.....why hire a realtor? Besides our connection to our community, knowledge of neighborhoods, property history, and local ordinances, our membership in our local broker marketplace provides access to information that helps our clients better understand our local real estate market. Monterey County uses the Multiple Listing Service (MLS) and each agent pays a membership fee to have access to listings, data and reports. There are broker marketplaces across the U.S. and the service is specific to the local area.
What do the marketplaces do?
The marketplace houses data in one location for all the verified, up-to-date home listings in their area.
Help buyers and sellers understand the landscape of their market and make informed decisions in consultation with real estate professionals.
Give transparent, equitable and instant access to all home listings.
Ensure the most accurate, up-to-date and verifiable source of active listings and past sales.
Maximize consumer choice, providing options for brokers to work with.
Enable sellers and buyers to have professional representation in the complex home sales process.
Encourage different compensation models to thrive.
Foster competitive pricing and market competition for businesses of all sizes.
Why does it matter?:
More exposure to listings and housing opportunities can increase success for buyers and sellers.
Home sellers have a greater chance of earning more because they are exposing their home to the public. The larger the audience, the better the chance of creating competition.
The marketplaces provide a centralized home buying and selling process for everyone.
Local broker marketplaces foster an inclusive and accessible market for consumers. Buyers can easily access the most homes for sale, free from discrimination, regardless of which broker they choose to work with or how much that broker is being paid for his or her work.
Buyers and sellers have many choices about the brokers with whom they work – from how they are paid to specific expertise to customer service – all at market-driven prices.
There are more than 500 local broker marketplaces in the United States, all of which facilitate and encourage competition in real estate.
Brokers submit new listings and update current listings every day directly on local broker marketplaces, making them the most updated source of information about the most homes for sale in a market.
As a REALTOR®, I encourage sellers to allow their property to be published in MLS to give their home the greatest exposure to the market. I encourage buyers to use a real estate professional so they have access to listings, data and analysis that isn't always available to the consumers. The broker marketplace is essential to our business and is an invaluable tool to help both buyers and sellers navigate the real estate market.
Source: California Association of Realtors