exploring the MLS

Exploring the MLS

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Whether searching popular real estate websites like Zillow is a hobby or you’re truly searching for your next property, there is one local marketplace database that has all the current home listings in the area. But to gain access to it, you need a Realtor. Then exploring the MLS becomes a useful means to an end at your fingertips!

What is the MLS?

First of all, MLS stands for “multiple listing service.” To clarify, it is basically a network of local databases for designated areas across the U.S. In fact, there are more than 500 local MLS marketplace databases, serving as tools for real estate professionals to share area home listings with each other.

From there, licensed Realtors can begin exploring the MLS with their clients, narrowing down the available options based on information found in the database. An MLS listing is usually similar to other public real estate listings.

It typically includes the property’s price, address, square footage, type of property, number of bedrooms and bathrooms, utilities and other key details. The MLS listing also includes agent remarks about the property, along with photos of the interior and exterior of the property.

In addition, there is a section intended for other agents, brokers and Realtors only. Here is where they will find private information such as directions on how to get to the property, for instance.

More about the MLS

More than just a current database of listed homes in your area, the MLS ensures home buyers and sellers have access to the largest collection of available properties and genuine buyers through the active participation of Realtors.

It also promotes transparency and a competitive marketplace. According to Bright’s 2022 MLS Study, consumers benefit from the open marketplace made possible through the MLS. The study reported that homes on the MLS generally sell for about 15 percent more than those not in the database.

More specifically, non-MLS listings sold for an average of $349,773, while similar properties on MLS sold for an average of $395,244, which is a $45,471 difference!

Summary

To summarize, working with a licensed local Realtor pays off, from exploring the MLS to having a loyal advocate on your side throughout the complicated process of selling and buying a home. Are you ready to rev up your search for a home in East Alabama? Connect with one of our expert LCAR members to get started! For more real estate news and home ownership tips, keep reading our blogs.

searching for a home long-distance

5 Tips for Searching for a Home Long-Distance

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Searching for a home can be taxing. Searching for a home long-distance carries its own set of challenges. Whether you’re moving across the state or moving across the country, check out these tips to help the process go a bit smoother.

Outline your priorities.

Before you even start your remote home search, make a list of priorities when it comes to your new home. Separate wants from needs, and place each in order of importance. For example, if having two full bathrooms is a MUST-have, then place that high up on the “needs” list. If it would be nice to have a pool (but you could do without), that would fall somewhere on the “wants” side.

Consult this list often when searching for a home long-distance to keep yourself on track.

Do your research.

You may have heard things about the area you are anticipating moving to, but doing your own due diligence to confirm what you’ve heard is always a good idea. And thanks to the internet, it’s easy! Check out municipal and tourism websites and social media pages. Read the news from that region. Look at reputable sources for city data like U.S. News and World Report’s real estate section.

You can also join community Facebook groups, for example, and ask the locals themselves any questions you may have about neighborhoods, schools, city amenities and more.

Work with a Realtor.

We always think working with a Realtor is a good idea, but even more so when you are searching for a home long-distance. Choose a Realtor in the area you will be moving to. You can look at online reviews, or ask those community Facebook groups for recommendations. You can also contact the area’s local association of Realtors to get connected with someone.

Realtors will be knowledgeable about the area and its housing market and will therefore be able to better-assist you with your remote home search. Your Realtor can also visit homes on your behalf and do virtual walk-throughs, take photos and videos to send you, etc.

Take advantage of technology.

Speaking of virtual walk-throughs, technology like this should be your best friend when it comes to remote home shopping. If you’re searching across the country, for example, it’s not feasible to think you’ll be able to make multiple visits to see homes in person. Plus, by the time you get there, they could get scooped up by another buyer.

Ask your Realtor to walk through the home while you’re on FaceTime with them. Browse online listings from trusted sites and rely on high-quality listing photography. Ask if a property has 3D or virtual tour technology available.

Technology also comes in handy when working with your Realtor. He or she will be just a quick text, phone call or FaceTime away when you have questions.

Plan a visit, if possible.

Again, this tip may not be doable for everyone depending on distance and schedules. However, if you can get to the area to get a feel for it in person, doing so will help familiarize yourself with the city and its neighborhoods beyond the limits of online research. If you don’t find your new home while you’re there and you return to remote searching, at least you will have a better idea as to what to look for—and where.

Summary

Searching for a home long-distance doesn’t have to be daunting. Use these tips as a guide, and most importantly—get connected with a local Realtor who can show you the ropes! Keeping reading our blog for more helpful tips for buyers and sellers.

benefits of working with a REALTOR®

9 Benefits of Working with a REALTOR®

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Let’s start with honesty. Honestly, real estate may seem simple on the surface, but once you dive in, you realize it gets deep. These nine benefits of working with a REALTOR® may help you avoid getting in over your head!

Honest, ethical conduct.

REALTORS® are licensed professionals. As members of the National Association of REALTORS®, each REALTOR® must abide by a strict code of ethics. To summarize, expect transparent and fair treatment in all transaction-related dealings.

Additionally, your interests come first and foremost.

Objective information and input.

First of all, clients working with REALTORS® will receive non-biased, factual information on properties. REALTORS® can provide information on schools, zoning, utilities and more.

In fact, when it comes to the benefits of working with a REALTOR®, having access to their data as a resource is a huge! After all, you are making a life-changing decision—so having all the facts possible is a strong advantage.

A network of vendors.

Why waste time searching for and vetting an endless list of potential vendors? REALTORS® can easily provide you with a list of respected professionals. This includes contractors, repair professionals, staging companies, photographers, appraisers and so on.

Increased search power.

Along the lines of more data, working with a REALTOR® gives clients the ability to review the Multiple Listing Service (MLS). The MLS is a tool used by REALTORS® to list homes and find others on the market.

Often, there are properties available on the MLS that are not listed anywhere else.

Current know-how.

Rules and regulations change. When you work with a licensed REALTOR®, you can count on their up-to-date knowledge.

Expert local market advice.

Local REALTORS® know the local market better than anyone. They will know what is hot and what is not. To clarify, they can tell you to yay or nay when it comes to national trends versus what is selling locally.

Gain an expert negotiator.

The benefits of working with a REALTOR® keep getting better! Knowing you have a professional advocate looking at all angles centered on your best interests is worth its weight in gold.

Emotional support.

Perhaps one of the more underestimated benefits to working with a REALTOR® is the emotional support. Again, they are objective bystanders who get the gravity of what is inevitably an emotional situation.

They will provide an ear to listen as you work together through the in-depth process.

Expert guidance.

Finally, we saved the best for last. Working with REALTORS® ensures you receive expert guidance every step of the way!

Summary

If you weren’t sure about the benefits of working with a REALTOR®, hopefully this sheds some light! We are also here to answer any questions you may still have. Each and every member of LCAR is capable of handling any and all of your real estate needs. To find out more about us, our members and local real estate news, keep reading our blogs!