MLS stands for MULTI LISTING SERVICE for agents who work together: INEA is an estate and letting agents B2B system. We have a high tech hub that integrates with most good softwares. Our central pool of shared property listings can be accessed by member 'sub' agents - and 'main' or 'master' agent members can add their stock.
MLS - What main agency means to gain better results over sole agency
Rick and Sandra are INEA members. They use main/sub agency to gain:
1. exclusive rights to control a marketing programme.
2. Extended exposure to more buyers via more local (sub) agents, then throw in 'Open Days' to buffer momentum between interested parties.
What's interesting is the vendors featured achieved £400k more via Rick and Sandra as their main agents (£2.8m rather than £2.4m). The house had been on a sole agency for months - just weeks prior.
See the video on how mls works here
Using the above techniques they increase viewers by typically 3 times, allowing higher offers to be submitted. As such their fee was higher than the prior agent who didn't get the sale and would have only got 1%.
Make your estate agency more centric, locally. Gain higher fees and access to more sub listings
1. HIGHER FEES:
An agent who offers clients greater exposure via other fellow agents can increase more applicants through a property door. The result is that a property can sell or let faster, at a better price as more offers can come in and an agent can advise on buyers or tenants who are in a better position to proceed. As going from just sole agency to main agency can achieve better results, then the main agent can often achieve 0.5% to 1% higher fees.
2. HAVE MORE PROPERTIES TO OFFER:
An agent needs property. The more you can offer, then the more sales and lets you can achieve and earn from. MLS creates a networked group of agents who pool shared properties into a hub. Great video of US agent offering MLS properties + IDX MLS websites:
1 if websites were human video
2 MLS IDX website video
3 Wordpress templates
3. REDUCE OR LOSE PORTAL COSTS:
When agents work together in a local group many may be gaining similar enquiries for like properties from the same portals. £ 1,000's costs can be saved by passing over redundant leads. A property can only be sold or let once, so having 2-3 extra buyers or tenants means other agents listings may be ideal matches.
4. A BETTER WEBSITE:
Having access to more 'other' sub agents MLS listings means you have more to sell and let. This means Google has more to find you from. But to get these 'other' properties in your website requires an idx enabled website - be it via live feed from your software or via an integrated iframe property search which can replace the search on your existing website. With more content, your site will be seen greater as a larger local property website. More search matches - means greater SEO and hits to your business.
IDX stands for information data exchange.
More softwares are now looking at making their software 'next generation' and enabling agents to back feed via 'idx' other agents property listings from the INEA hub.
Many other softwares who haven't yet taken this step are meeting us halfway by replacing their own property search code in the agents website property search with INEA mls idx coding. This creates an upgraded search that automatically means accepted sub properties add to your website as if your own.
Below are some examples of MLS/idx integrated websites:
Iconic (site of Chris hall Ex NAEA President) - link here
Luxury Properties (INEA demo site) - link here
My London Agent (idx iframe) - link here
Option Homes (MLS/idx fed site INEA/Acquaint) - link here
Purple Properties (idx dual iframe INEA) - link here
Character Home (INEA demo site) - link here
Other Non INEA examples as found overseas
The Ocean Broker (South Carolina, E Coast) - link here
Beth Billington (Dual Own/ MLS/idx site- link here
NJ Homes, Edison USA - link here
Sutton West Coast Realty, Canada - link here
Isn't it time you had more listings in your site?