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Ask if your Broker is a REALTOR®,
a member of the National Association of Realtors® ™
The Silver City Regional Association of REALTORS® includes Brokers and real estate industry leaders who band together to ensure a healthy real estate environment and to protect private property rights. REALTORS® are professionals helping consumers achieve the American Dream of homeownership.
Silver City Regional Multiple Listing Service
SCRMLS is a wholly owned subsidiary of SCRAR, and committed to providing reliable, cooperative, credible real estate database of listing and sales information in southwest New Mexico. Contact: 575-538-2665 | email | 1930 Highway 180 E, Silver City, NM 88061
What is a Multiple Listing Service (MLS)?
The "source" for real estate listings!
Real Estate Brokers usually belong to one or more MLSs, which are brokerage cooperative organizations. Brokers come together and agree to collaborate in a shared marketplace. The territory of an MLS is self-defined and not limited by city, region or even state borders.
The MLS's brokers share listing information and related data according to a mutually defined set of rules and procedures for cooperation.
MLSs manage the rules for broker compensation through commission sharing, but the MLS has no say in commission rates that are individually set by brokers.
MLSs are not websites, databases, or REALTOR® associations. While an MLS may have some of these components, its primary role is to ensure compliance with cooperation and compensation rules. The MLS is essential to the operation of pro-consumer, pro-competitive real estate marketplaces that provide broad access to housing opportunities.
Brokers are known as participants in the MLS. Their agents are known as subscribers to the MLS. Brokers will often work in multiple marketplaces and become participants in more than one MLS. The broker’s agents will join the MLSs that the broker is already participating in and that serve their business needs. Agents cannot join an MLS without their broker joining.
Much of a broker’s data is input into MLS systems, which is why appraisers also join the MLS for property valuation data. The MLS serves as the data repository that houses single-broker and multi-broker data sets for the participants to use in their businesses. Though not the only place that brokers source data from, the MLS data set is often the most important.
Brokers’ ability to access MLS data is critical to their success in a modern real estate environment. Brokers employ technology staff or hire outside vendors to manage their MLS data and technology needs. MLS data is used for internal brokerage purposes as well as public display of listings in broker websites and applications.
While MLS participants can display some MLS data publicly to consumers, these participants cannot imply to consumers that their company or website is the MLS. The websites that brokers and agents display only contain a limited portion of the information in the MLS. Confidential client and customer information that also resides in the MLS is not a part of these broker displays.
Participating in an MLS has requirements beyond simply having a brokerage license. A participant must “actively endeavor to list and sell real estate on an ongoing basis.” This condition of participation delineates between a licensed brokerage organization that does not actually transact real estate (sometimes called a paper broker) from one that does.
(source: www.reso.org)
Special Notice to IDX and VOW Vendors!
May 24, 2023 - Click the link to learn more
https://www.silvercityrealtors.org/post/special-notice-to-idx-and-vow-vendors
"Miraculous" comes to mind if you stop and think about it for a moment. Over a million independent contractors. Tens of thousands of companies. Hundreds of different business models. Competitors, cooperating. To make homeownership happen. That’s the power of MLS."
---Council of Multiple Listing Services---
Real Estate Commission Facts
Most real estate transactions begin in the Multiple Listing Service. A Multiple Listing Service is an organization that is a collective of brokers. It sets down guidelines for cooperative listing sharing and sales. Members agree to work with and compensate other brokers in order to sell their listings.
MLSs are not websites, databases, or REALTOR® associations. While an MLS may have some of these elements, its main function is to ensure compliance with cooperation and compensation rules. The MLS is essential for the operation of real estate markets that are pro-consumer, pro-competitive, and provide broad access to housing options.
The buyer's broker often receives a commission from the seller's broker for locating a ready, willing, and able buyer. Working with an established collective of brokers expands the pool of potential purchasers for sellers and helps them save time and money. For buyers, it allows them to acquire expert representation and saves them money at closing.
Membership Pays!
The Silver City Regional Multiple Listing Service is among the top reasons that it pays to be a member of the local REALTOR® Family.
The Silver City Regional MLS is a wholly owned subsidiary of the Silver City Regional Association of REALTORS®. SCRMLS was established in 1994 and is governed by a board of directors who are elected annually by the Participant members of the service.
History
MLSs were originally created by REALTOR® associations to share listings in a pre-digital world. These organizations created digital and internet real estate listing data systems as technology advanced. One of the main business tools offered by associations to their members and subscribers today is the Multiple Listing Service.
Service Area
Grant and Hidalgo counties are the service area covered by SCRMLS as stated in the bylaws.
Current MLS Benefits
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Broad inventory on a single website
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Clear rules for consumers and professionals
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Transparency in market data and trends
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Open competition and housing access
MLS Rules and Regulations
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Cooperation - brokers and consumers in the brokerage cooperative
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Compensation - between seller's and buyer's broker to complete a sale
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Compliance - policies, processes and consequences
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Data - distribution, access and proper use of real estate data
SCRMLS Blog
MLS in the Know
Video for Sellers
Video for Buyers
Multiple Listing Service and You
The Multiple Listing Service (MLS) is a service of the Silver City Regional Association of REALTORS® and is open to real estate broker and appraiser members of any REALTOR® Association. Simply put, the MLS is a computerized network of participating real estate and appraisal offices. Through the computer system information on properties for sale is quickly disseminated to cooperating REALTORS®. This powerful combination strengthens the marketing possibilities for sellers and enables REALTORS® to better satisfy the housing needs of sellers and buyers.
EQUAL OPPORTUNITY
The MLS and its participants recognize the existence of national, state and local laws concerning discrimination in housing. Discrimination in the sale, rental or leasing of housing in New Mexico based on race, religion, color, national origin, ancestry, sex, disability or families with children is illegal. We, as REALTORS® and participants in the MLS, abide by the letter and spirit of the law.
MLS RULES
When you, as a seller, sign an exclusive listing agreement with a REALTOR®, you are also giving your permission to have your property entered in the MLS, subject to its rules and regulations.
The main benefit to you, the seller, is the increase in exposure your property will receive through the MLS. To insure that both the general public and the agents are treated fairly, rules and regulations have been established so the information gathered through the MLS is as correct and accurate as possible.
UNDERSTANDING THE LISTING AGREEMENT
In an exclusive right to sell contract, one broker is appointed as the sole agent of the seller and is given the exclusive right to sell the property with an additional authority and obligation on his/her part to distribute the listing to other cooperating brokers in the MLS. The advantage to a seller under this form of listing agreement is that all the members of the MLS are offering your property to prospective buyers.
The importance of accurate information cannot be overstated. Submitting inaccurate information to the MLS can have ethical and legal consequences for both you and your Broker. Prospective buyers rely on this data in making their decision to view and/or purchase your property.
AFTER THE LISTING IS SIGNED
When your property is listed for sale it will go through three phases of processing:
In the first phase, your sales agent either enters the required information in the MLS computer software. This must be done within 2 working days of the time you sign a listing agreement in order to make certain your property is exposed to the market as quickly as possible. Your property will be entered into the computer database as a new listings and will remain active until your REALTOR® changes its status or it expires. This provides two very effective methods of marketing your property.
YOUR LISTING WILL BE PUBLISHED AND MARKETED
Once the information about your property has been entered into the MLS database, the information is instantly accessible to all the REALTORS® who have access to the computer system. This information will remain in the computer system as an active listing until your REALTOR® changes it status, its sold or it expires.
When the listing is entered into the computer database your agent will add one or several photos. You should try to make your property as presentable as possible for these photos. Close garage doors, move garbage cans, cut the weeds, bring your dog inside, make sure your car isn't blocking the view of your property from the street, and so on. The better your property appears in the photos, the more appealing it will look to the prospective buyers who may decide whether or not to come and see it based on the photos in the computer.
These two marketing methods provide the maximum exposure of your property to other Realtors® who will try to help your REALTOR® sell your property.
Your property enters the second phase when it goes off the market. Once you have signed a sales contract and do not wish to entertain secondary offers, the status of your property is changed to "pending."
Should it be necessary to take your property off the market, it will go into a "cancelled" status. The information about your property is still in the computer system, but the status will have been changed to indicate it is no longer available for sale.
The final phase takes place when the transaction actually closes and the property is "sold". Your REALTOR® will change the status of your property in the MLS to sold within 48-hours of the closing. The information about your property will remain in the MLS as a sold listing.
The importance of this information cannot be over-emphasized. The reason is simple: You, the seller, have probably relied on this type of information in determining your own listing price to sell your property as quickly as possible. Other sellers and appraisers also rely on these comparable sales to determine asking prices and market values.
YOUR LISTING WILL BE ONLINE
All the residential listings in the MLS are also uploaded daily to REALTOR.COM and to websites where the Broker and Agent participate in the IDX program offered by the MLS. These listings are on the internet to be viewed by the public unless you note on the listing agreement that you do not want your property marketed on any websites.
PLEASE COOPERATE WITH YOUR REALTOR®
For these reasons, we ask that you cooperate fully with your agent in giving all information required at the time your property is listed for sale.
MAKE ALL CHANGES IN WRITING
If you extend the listings, or make any other changes during the listing period concerning your property, be sure they are made in writing and sent to your REALTOR®. This will help protect you and your REALTOR® avoid confusion or any misunderstanding.
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