Are you thinking of buying or selling a home in Charleston soon? You’ll most likely find yourself checking out the Charleston MLS during your journey. The Multiple Listing Service is a database of available houses for home buyers. However, there’s more to it than just being a database. Charleston Home Team is here to explain how it works!
A Brief History of the MLS
The MLS has been around as early as 1907. It started out when real estate agents would trade info about homes they were selling. By 1908, it was adopted as a viable system used by all agents. Today, it’s a tool where all listings are searchable by price, neighborhood, and home features.
At one glance, it may look like it’s one national database. However, it has about 700 regional databases including the Charleston MLS. Each of these regional MLS features its own listings. Real estate agents must pay dues to gain access to each database. For many agents, it’s common to be a member of numerous MLS databases.
How the Charleston MLS Works
The Charleston MLS works like other regional MLS databases and have the same abilities. One of its main purpose is giving home sellers a way to advertise their home for sale. However, they are not allowed to post their house by themselves. This is because the database is limited to licensed agents and brokers.
Once a real estate agent has a client who is selling a house, certain information is gathered. This includes details such as the square footage and number of bed/bath rooms. When other agents log in to the Charleston MLS, they can see everything the home has to offer. Agents can find other useful information such as seller disclosures and HOA regulations
Alternatives to Listing Houses on the Charleston MLS
There are alternatives house sellers can use to advertise. One way to do so is to list the house on a For Sale By Owner (FSBO) site. This is an uncomplicated way to avoid paying a real estate agent’s commission. However, there are precautions to this that you must be aware of. For starters, FSBO houses sell for less money on average. Plus, it makes selling the home harder because you must advertise it on your own.
Another alternative to using the Charleston MLS is listing a house as a “pocket listing.” Pocket listings are properties not entered into the MLS due to privacy reasons. Commonly used by celebrities and other high-profile people, it helps avoid unnecessary publicity. Pocket listings need the services of an agent to locate potential buyers.
Contact Us to Find Great Homes on the Charleston MLS
Hiring an experienced real estate agent is crucial to finding homes on the Charleston MLS. Let us help you by being your personal guide. At Charleston Home Team Real Estate, we strive to make sure your home selling and buying experience is pleasant. Contact us at (843) 628-3960 to start searching through the Charleston MLS today!