What exactly is an MLS® System?

If you came looking for real estate listings in Calgary, Alberta, or simply want to connect with an accredited realtor in Calgary – you have come to the right place.

To help Canadians understand the MLS® system better, we decided it was necessary to share some of the following information because if you buy or sell your home for the first time, you might not be familiar with the entire concept of MLS®. On this page, you are going to find all the essential information that you need to know before listing your house for sale.

MLS stands for multiple listing services. MLS® systems are collaborative selling schemes run by various real estate boards and associations in Canada. They are available to REALTOR® members of those boards and associations who serve your interests and share a commission from the sale with a collaborating REALTOR® member. MLS® systems carry specific data and offer various search tools, all created to help people find the real estate properties that meet their exact expectations.

The fundamental purpose of an MLS is to render a platform for real estate agents to publish a single compensation by a listing realtor, to other fellow members in that MLS. In other words, the rate that is suggested by the listing agent is advertised within the MLS to other collaborating brokers. This offer of a commission is deemed to be a contractual commitment; however, it can be negotiated by the participating broker or the particular broker acting on the buyer’s behalf. MLS®’s database is used by real estate agents, serving sellers under a listing agreement to publicly share information about real estate properties with other brokers who may represent potential buyers.

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Advantages for buyers in Calgary:

Now that you understand, on what basis MLS operates, how can it be helpful to you as an end-buyer?

Find your home faster – the MLS® system allows you to access all the real estate properties from every realtor in Calgary, Alberta. With MLS, you are no longer limited to browsing properties from only one realty but can have them all displayed at once. This saves you, as a buyer, the hassle of visiting every realty website and browsing houses that match the same criteria. Less browsing time, fewer phone calls, less time wasted.

Search anytime – MLS® systems are available 24/7, and since they are updated continuously, all the listings you see on the web pages of calgary-home-sales.ca are always up to date.

Explore by neighbourhood – Looking for a particular community? MLS® systems offer an extensive neighbourhood search to help you find listings in your specific chosen location. You can split your search either by the name of the neighbourhood or by location, such as NW or NE.

Advantages for sellers in Calgary:

As a seller, you can access ten times more, potential buyers, because MLS® systems are used by all authorized realtors in Calgary, as well as country-wide. All listings created through MLS® systems get featured on major real estate websites and social media accounts, thereby guaranteeing maximum publicity.

Sell quicker and for a higher price – the advantage of having your listing displayed to the vast majority of people who are looking for a new home gives you the freedom to set a higher price tag on your real estate property and sell faster thanks to the enormous exposure. As a seller whose house will be listed using the MLS system, you shouldn’t be afraid to raise the price, because the professional presentation combined with the maximum exposure will help you to reach a lot more potential buyers in a shorter timeframe.

A single person selling his or her own real estate property is acting as a “for sale by owner” (sometimes referred to as “FSBO”) seller and cannot usually list his or her home for sale directly in an MLS system. They would need to have an approved realtor (who is working with MLS directly) to list the house for them.

At McDonald and Associates, we’ve been working with MLS for decades and could insert your listing into the MLS system.

Another advantage of MLS is that an MLS subscriber may search the entire MLS database and retrieve data about all homes for sale by all the brokers who participate in the MLS systems. MLS systems contain detailed lists of information about the characteristics of each property, and this information and data are managed by real estate specialists who are trained and experienced in the local marketplace, as opposed to general real estate websites, which contain only a short list of property information.

For the residents of Canada, the national MLS is a cooperative system for the representatives of the CREA (Canadian Real Estate Association). The terms Realtor and MLS are both registered trademarks for the members and information of the CREA.