“MLS (Multiple Listing Service) is a waste of time for commercial real estate brokers”. That’s what the majority of commercial real estate users say about MLS. But this isnt the case all the time.
Well it is true that the majority of commercial real estate deals are NOT done through the MLS system and most commercial real estate agents do not belong to the MLS system.
Most customers don’t ask about MLS membership and commercial agents do not have to disclose that they don’t belong to MLS. However, commercial real estate agents will explain, if asked, that:
• The real estate agents that belong to MLS are primarily residential and are not qualified to work on commercial real estate. They don’t want to waste time dealing with unqualified agents
• If a commercial property is listed on MLS it is likely to be substandard and a lower price value. Why waste the time on these properties.
• There are not many commercial real estate transactions done on MLS so you don’t find serious Buyers or Sellers
I am a commercial real estate agent and I don’t feel that way. Yes, I do belong to the important Commercial Real estate networks., but I also belong to MLS. It is true that most commercial properties do not appear on MLS. However, what is the harm to my client if I do put their property on MLS. It requires a little more effort from for me but these properties do get additional exposure from MLS.
There are many thousands more Realtors© belonging to MLS; far more than the number of active commercial real estate agents. Actually, there is no such thing as a commercial real estate license. A licensed real estate agent can sell any type of real estate. A licensed real estate agent that works primarily with residential properties on MLS may receive a request from a client for a commercial property. Or that Realtor© may even be asked to list a commercial property. By listing on MLS I reach a broader market for my clients. By searching on MLS you can sometimes uncover properties that do not appear on commercial networks, you can try it out, take a look at Flat Fee MLS Listings in Connecticut, and you might be able to find what you’re looking for.
I just received a call from a Residential Realtor©. She has a client in town that is looking for an office-warehouse. She found my listing on MLS. I was happy to meet her and her client and show them the building. I understand that she does not know all the codes and rules for that commercial property in this area. However, I am happy to work with her and impart what knowledge I can. Both Realtors© after all have a common goal. My job is to get this building sold for my client and I am happy to share the commission with another Realtor©.
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