What the local MLS marketplace is and how it benefits all buyers and sellers

Let’s break it down. Local broker marketplaces:

• Give transparent, equitable and instant access to all home listings.
• Ensure the most accurate, up-to-date and verifiable source of active listings and past sales.
• Maximize consumer choice, providing options for brokers to work with.
• Enable sellers and buyers to have professional representation in the complex home sales process.
• Encourage different compensation models to thrive.
• Foster competitive pricing and market competition for businesses of all sizes.

Why the MLS matters:

• More exposure to listings and housing opportunities can increase success for buyers and sellers. Local broker marketplaces give buyers access to the most housing options on the market at any given time, and they help sellers get the most buyer attention for their listing.
• Home sellers have a greater chance of earning more. Between 2019 and 2022, homes listed on local broker marketplaces sold for an average of 14.8% more than off-market properties. For an average home sale, that’s a $45,471 difference.
• The marketplaces provide a centralized home buying and selling process for everyone. In 2022, 86% of sellers listed their homes on local broker marketplaces, which are the No. 1 sources to broadly market homes.
• Local broker marketplaces foster an inclusive and accessible market for consumers. Buyers can easily access the most homes for sale, free from discrimination, regardless of which broker they choose to work with or how much that broker is being paid for his or her work.
• These marketplaces are all about consumer choice. Buyers and sellers have many choices about the brokers with whom they work – from how they are paid to specific expertise to customer service – all at market-driven prices.
• A plethora of local broker marketplaces equals a competitive market that works for everyone. There are more than 500 local broker marketplaces in the United States, all of which facilitate and encourage competition in real estate.
• It is a secure marketplace with timely, accurate listings. Brokers submit new listings and update current listings every day directly on local broker marketplaces, making them the most updated source of information about the most homes for sale in a market.