Q&As
- What is the difference between a real estate agent and a real estate broker?
- What steps do I go through to buy a house?
- How long does it take to buy a house?
- I want to buy a house. I know the property and the seller has an agent. Do I need my own agent or can I negotiate a lower fee if I act as my own agent?
- How much does it cost to use a Buyer’s Agent / Realtor / Broker?
- Working with FHA/203B, RD, VA, Section 184, 203K, Conventional, HELOC, and other types of financing?
- Real vs Personal Property
- Mortgages for Manufactured Homes
- What is a CMA, Appraisal, and AVM?
- Can the Buyer purchase personal property from the Seller?
- Can a mortgage be used to purchase a mobile home?
- What are the basics for handling multiple offer negotiations?
- Are husband and wife required to apply jointly for a mortgage?
- How do I prepare for a cash purchase?
- Do I need flood insurance?
- Where can I research flood maps / areas?
- To whom should I write the earnest money check?
- Should I buy a residential service agreement (i.e. home warranty)?
- Assuming you’ll be obtaining mortgage financing (i.e. not paying cash), here’s a list of steps to buy a house:
- Do I also need an attorney?
- How does the MLS help buyers?
- What is the MLS?
- What’s the difference between a Pre-Qualification Letter and a Pre-Approval Letter?
- When do I apply with a mortgage lender?
- What is Owner’s Title Insurance (OTI)?
- What is Lender’s Title Insurance (LTI)?
- What is title insurance?
- What does a title company do for Buyers?
- How can Harrah Realty help me as a Buyer?
- How much does it cost to buy a home?
- Do you work with out of town clients?
- Can you help me purchase or build a new home?
- Do you work with First-Time Home Buyers?
- What is a lease purchase or an option purchase?
What is the MLS?
The Multiple Listing Service (MLS) has been around for decades.
There are around 900 MLSs in the U.S., and they serve a valuable purpose: to provide an organized place for REALTORS® to list their properties for sale.
In order to be listed in the MLS, the listing broker, on behalf of the Seller, agrees to cooperate with and compensate all other real estate brokers that belong to the same MLS — there’s just one MLS covering Greene County..
Each MLS is individually managed and customized to serve their members (REALTORS®, their brokers, and affiliated service providers.
MLSs have the most valuable inventory of homes listed for sale, pending, and sold because of the accuracy of the information. County records have information about every property in the county, which the MLS does not, but they don’t have as much information about each property.
REALTORS® and their sellers provide many details about each property for sale so that other REALTORS® and their buyers can search and find exactly what they’re looking for, like 4+ bedrooms with an in-ground pool in a certain school district or neighborhood.
Public-facing real estate websites like Realtor.com®, real estate brokers’ websites receive information daily, hourly, or even more frequently from the MLS, except when a property owner indicates on the MLS listing that it should not be syndicated to third-party websites.
The Association of REALTORS® (GTAR) is the membership entity, and Real Estate Services, enforcing rules, providing guidance to brokers, REALTORS®, and their assistants, and storing, backing up, and making available all the data.