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If you’ve heard the buzz about Multiple Listing Service.PH (MLS.PH) , you may be wondering:What’s MLS.PH and how can it help me?So here’s a Quick Guide.Multiple Listing Service.PH (MLS.PH ) is the only Multiple Listing Service in the Philippines with Data License Agreement with Move Inc. , operator of www.realtor.com/international . MLS.PH is the only MLS service provider for CREBA-NAR members an exclusive benefit available to International REALTOR® Members(IRMs) extended to all PRC Licensed Real Estate Practitioners ( brokers , appraisers, consultants and government assessors )The Goal of Multiple Listing Service.PH (MLS.PH) is not limited to property search but put your business in the global market . MLS.PH was created to• To build a national database of robust, property centric information covering every parcel of property in the country. • To provide International REALTOR® Members/ PRC Licensed Real Estate Practitioners with data on every parcel of property in the Philippines, giving brokers and agents valuable tools and features to make them better informed and to increase their efficiency in the marketplace. • To create the most powerful toolkit for International REALTOR® Members/ PRC Licensed Real Estate Practitioners in the Philippines . To provide International REALTOR® Members / PRC Licensed Real Estate Practitioners with advanced, single-source access to detailed information about properties, trends and demographics. MLS.PH is working on the most robust and complete data about every parcel of property in the Philippines. • To conduct nationwide property searches and market-to-market comparisons. An easily interpreted historical chart for each property layers years of listing, sales, default, financing, and valuation activity.• To customize valuable reports to share with clients and customers. Utilize these reports to create a personal library of market information including market forecasts, trends, sales analytics, property details…all branded to you. These reports are an outstanding tool for Brokers to use in presentations with buyers and sellers.The Mission of MLS.PH is to empower MLS members / subscribers with a comprehensive online database of property information, powerful tools and analysis, and unique reports that only MLS members / subscribers can provide to consumers and their clients.
Transcript of MLS Philippines
- 1. www.mls.com.phThe only Multiple Listing Service in the Philippines with Data LicenseAgreement with Move Inc. , operator of www.realtor.com/international
- 2. Multiple Listing Service ( MLS)Multiple Listing Service is an Optional Service providedto International REALTOR Members (IRMs) andextended to all PRC Licensed Real Estate Practitionersa facility for the orderly correlation and dissemination oflisting information so participants may better serve theirclients and customers and the publica means by which information is accumulated anddisseminated to enable authorized participants toprepare appraisals, analysis, and other valuations of realproperty for bona fide clients and customersa means by which participants engaging in real estate appraisal contribute to common databases
- 3. Key Element of MLSA key element to what makes an MLS unique is thatits a unilateral offer of compensation from the listingbroker to cooperating brokers who find the buyer.In an MLS, listing brokers agree to pay cooperatingbrokers a percentage of the sales price or a flat Pesoamount if they find the buyer for a property they havelisted.MLS simply put is the an exchange of property information for sale or lease and offersof compensation that lead to cooperative salesand lease transactions.
- 4. MLS BenefitsBuyers and sellers benefit from cooperativeagreement and efficient consumer marketing.The public benefits because MLS creates,maintains and shares an aggregated market forreal estate.MLS creates historical sales data that can be usedfor valuing property, including appraisals,comparative market analyses, broker priceopinions, etc.
- 5. Key MLS Policies Fourteen Points on Multiple Listing Policy MLS Governing Documents MLS Bylaws/MLS Rules and Regulations
- 6. Key MLS Policies MLS Antitrust Compliance Policy Multiple Listing services shall not enact or enforce any rule which restricts, limits, or interferes with participants in their relations with each other, in their broker/client relationships: MLS Shall not1. Fix, control, recommend, or suggest the commissions or fees charged for real estate brokerage services2. Fix, control, recommend, or suggest the cooperative compensation offered by listing brokers to potential cooperating brokers.
- 7. 3. Base dues, fees, or charges on commissions, listed prices, or sales prices. Initial participation fees and charges should directly relate to the costs incurred in bringing services to new participants.4.Modify, or attempt to modify, the terms of any listing agreement; this does not prohibit administrative corrections of property information necessary to ensure accuracy or consistency in MLS compilations.5. Refuse to include any listing in an MLS compilation solely on the basis of the listed price.
- 8. 6. Prohibit or discourage participants from taking exclusive agency listings or refusing to include any listing in an MLS compilation solely on the basis that the property is listed on an exclusive agency basis.7. Prohibit or discourage participants from taking office exclusive listings; certification may be required from the seller or listing broker that the listing is being withheld from the MLS at the direction of the seller.8. Give participants or subscribers blanket authority to deal with or negotiate with buyers or sellers exclusively represented by other participants
- 9. 9. Establish, or permit establishment of, any representational or contractual relationship between an MLS and sellers, buyers, landlords, or tenants.10. Prohibit or discourage cooperation between participants and brokers that do not participate in the MLS.11. Prohibit or discourage participants or subscribers from participating in political activities12. Interfere in or restrict participants in their relationships with their affiliated licensees
- 10. MISSIONTo empower, support and educate ourInternational REALTOR Members ( IRMs )/ PRCLicensed Real Estate Practitioners to achieve theirgoals by providing cutting edge resources thatimprove and enhance their Real Estate Businessto the next level.
- 11. VISIONBy embracing the acceleration of Informationtechnology change, we lift the professionalstandards that fosters an environment thatguarantees integrity and enlightenment andkeeps our International REALTOR Members(IRMs ) / PRC Licensed Real Estate Practitionersin the forefront of real estate as the premiersource of accurate real estate data.
- 12. Frequently Asked QuestionsQ. What is Multiple Listing Service / or MLS ?A. MLS or Multiple Listing Service is a Service provided to International REALTOR Members (IRMs)and PRC Licensed Real Estate Practitioners. It is the exchange of property information for sale or lease and offers of compensation that lead to cooperative sales and lease transactions
- 13. Q. What are the basic elements of MLSA. Basic Elements : a facility for the orderly correlation and disseminationof listing information so participants may better serve theirclients and customers and the public a means by which authorized participants make blanketunilateral offers of compensation to other participants or a means of enhancing cooperation among participants a means by which information is accumulated anddisseminated to enable authorized participants to prepareappraisals, analyses, and other valuations of real propertyfor bona fide clients and customers a means by which participants engaging in real estate appraisal contribute to common databases
- 14. Q. Who can participate in the MLS ?A. All International REALTOR Members (IRM) of CREBANAR Global Real Estate Council/ and PRC Licensed Real Estate Practitioners can join in the MLSB. Only Listings of International REALTOR Members (IRM) will be integrated to www.realtor.com/international
- 15. Q. How can I be an International REALTOR Member (IRM) ?A. All PRC Licensed Real Estate Practitioners can sign up for membership and pay their NAR Membership dues through CREBA NAR Global Real Estate CouncilB. Go to www.crebanar.com and download application from menu box . Be a MemberC. Call CREBA at (632)3732270 to 75 or email [email protected] for more details
- 16. Q. Is participation to MLS required to all IRMS?A. Participation to MLS is optional but Listings from www.mls.com.ph to be integrated to www.realtor.com/international is a service exclusive to International REALTOR Members (IRMs ) only
- 17. Q. Is MLS membership Free?A. All MLS fees, dues, and charges, including, but not limited to, initial participation fees, subscription fees, etc., may be assessed to MLS participants or to individual users or subscribers
- 18. Q. Is an Authority from the Client required to list or upload a property ?A. Yes, an Authority To Sell/ Lease from the Seller/Lessor to the Listing Broker is required for all Listings to be uploaded at www.mls.com.ph
- 19. Q. Are Listings filed with MLS exclusive to Participants?A. Any Listing filed with the MLS shall not be made available to any broker or firm not a member of the MLS without the prior consent of the listing broker.
- 20. Q. Is Reporting Sales to the MLS mandatory?A. Yes, all Sales of listed property shall be reported promptly to the MLS by listing brokers.
- 21. Q. Can Listings be withdrawn from a multiple listing service by participants prior to the listings expiration date?A. Yes, Listings may be withdrawn from a multiple listing service by participants prior to the listings expiration date.
- 22. Q. Will MLS display expired, withdrawn Listings?A. No , MLS will remove expired and withdrawn Listings.
- 23. Q.Will MLS display confidential information fields intended for cooperating brokers rather than consumers including compensation offered to other MLS participants, showing instructions,property security information, etc?A. No, MLS will prohibit display of any confidential information.
- 24. Q. Will MLS display sellers(s) and occupants name(s), phone number(s), and e-mail address(es)?A. MLS will maintain confidentiality of Sellers information.
- 25. Q. Does MLS fix, control, recommend, or suggest the commissions or fees charge by the listing broker to a cooperating participant?A. No. In filing property with the multiple listing service, participants make blanket unilateral offers of compensation to the other MLS participants and shall therefore specify on each listing filed with the service the compensation being offered by the listing broker to the other MLS participants. This is necessary because cooperating participants have the right to know what their compensation will be prior to commencing their efforts to sell.
- 26. Q. What happens to the Listings of resigned participants?A. When a participant of the service resigns from the MLS, the MLS is not obligated to provide services, including continued inclusion of the resigned participants Listings in the MLS compilation of current listing information. Prior to any removal of a resigned participants listings from the MLS, the resigned participant should be advised, in writing, of the intended removal so that the resigned participant may advise his clients.
- 27. How to be a Member @ www.mls.com.phLog on to www.mls.com.phCreate an Account ( see menu box at the upper right handof the Homepage )A confirmation of your membership will be sent to your emailLog on again to www.mls.com.ph , using your approvedusername and password.Go to Control Panel to Post your Exclusive / Direct ListingsA Membership Manual will be provided for you to manageyour Listings , account and profile.A Premium service is also provided for you to manage yourLeads, Prospects and ClientsFull access to Listing details of other CooperatingMembers, including rate of commissionAll full Features will be available to PremiumMembers only
- 28. Q. What are the types of Membership ?Basic Membership : any PRC Licensed Real EstatePractitioners who subscribe and membershipapproved can avail the free posting of listingsPremium Membership : Exclusive to InternationalREALTOR Members (IRM) who subscribe andmembership approved and had paid MLS Feescan post unlimited listings, avail premiumservices , like manage Leads, Prospects, Clientsand integration of Listings towww.realtor.com/international
- 29. ACT NOWand have your LISTINGS integrated at www.realtor.com/international JOIN AND SUBSCRIBE TO www.mls.com.ph NOW
- 30. GET YOUR LISTINGS integrated atwww.realtor.com/international SUBSCRIBE TO www.mls.com.ph NOW