What is the MLS?
13 March 2020
The MLS is a system designed to allow estate agents to pool their properties for sale that are “sole agency” or “exclusivities”. A common database allows a buyer to see all these properties for sale with member agents. In the event of a sale the commission is split between the agent with the sales mandate for the property and the one with the buyer – there is no extra cost to either party. The system was developed in the USA and has only recently been set up in France. Working with an estate agent that is part of the MLS has many advantages:
Advantages for the Seller
A Gain in time: you don’t have to deal with numerous agents, organizing appointments and showing them all your property. Your property is presented to other agents in an “open day” when they will be fully briefed by the mandated agent, so they can present your property to their clients, in the best possible light.
Life is simpler: there is one mandate, and one agent to deal with who knows your property thoroughly and can advise you from start to finish, as well as carry out a lot of the administrative chores associated with selling.
Correct pricing: prices of similar property sold in the area (and not just advertised for sale) are available in the MLS database, and can provide a sound base for the correct pricing of your property.
A rapid sale: assuming the property is correctly priced the agent is virtually assured of selling it and hence obtaining a commission. This obviously increases the motivation to invest a maximum in the promotion of the property and ensure a sale occurs quickly.
Advantages for the buyer
Expert advice: members of the MLS are generally very well informed of the situation in the market, having access to the history of all properties sold in the area through the MLS. In addition regular meetings of MLS members enable up to date information to be exchanged.
Time saved: one agent can show you a large number of properties and can organise all the appointments to visit.
Efficiency: the more an agent shows you properties, the more the agent understands what is important to you (not always obvious at the start) and can orientate future visits accordingly.
Support: knowing your requirements perfectly the agent can give a maximum amount of help in choosing a property and guiding you through the various steps to the satisfactory completion of your purchase.
CENTURY 21 Coast and Country in Mougins is a member of the MLS Côte d’Azur.