Whole$aling Tip of the week “MLS Access”

Whole$aling Tip of The Week “MLS(Multiple Listing Service) Access”

What is the MLS: The MLS, short for the multiple listing service is a tool used by Licensed REALTOR’s for sharing/networking/advertising commissioned real-estate listings.

As a wholesaler it is most likely you are not a licensed REALTOR. Yet you need to equip yourself with all of the tools one professional might have. MLS access is a very critical component to your success. Now I don’t mean asking an agent to look up certain things for you, I mean having your own access to your local Multiple Listing Service.

Question: How do I get access to the MLS if I’m not a licensed real-estate agent.

Answer: Through a licensed real-estate broker(Not an agent)

This is were your networking becomes important. You need to find an open minded broker that is will to work with you on growing your business, in return you allow them to write all of you contracts and set up a commission schedule for the deals that go, I allowed my broker to put me under contract for one YEAR!. You ask them to set you up as an unlicensed assistant, and show you how to use the program. By doing this you will have the most comprehensive tool for determining home values, and you will have immediate access to what is on the market in your area. In our area there are 5944 active listings right now. About 5850 of them are worthless to us, but having the continual access to the 90-100 listings that could prove profitable, is important. I promise if your not doing this your competition is. The MLS is going to provide you with the best look at Comparable sales data, whats on the market, and provide you with a solid pulse on your market. Now you have to remember that deals are done everyday outside of the Multiple Listing Service, because you don’t have to be an agent, or use one to sell a house. So you need to cross reference your information with other source to get the most accurate information possible, but that is another Post.
Good Luck – God Bless.