This is the multiple listing service which agents and brokers have access to. When a home goes on the market and is listed with an agent information pertaining to the home, it is listed on a shared computer system know as the MLS. It often includes a picture. Agents and brokers have access to this system and will be able to find homes in areas of interest to you by using the system.
The MLS is divided up into five sections that contain information on the property such as address, listing price and number of rooms. The first section (section A) contains the most important pieces of information such as address and price. The second section (Section B) goes into the details on number of rooms, taxes, tax year, and school district. This section also has information on whether someone can take over the mortgage from the seller. The third section (Section C) has directions information and the fourth (Section D) describes the style of the home, example, cottage, colonial or ranch. Last section (Section F) has contact information on the listing agent and commission.
Much of the information in the MLS is coded or the words are abbreviated. It is good to get familiar with these codes and abbreviations. These codes and abbreviations are generally universal so you will find the same codes used everywhere you search for a home.
Some of the more common codes and abbreviations are:
- Br – Bedroom
- MBR – Master Bedroom
- BA – Bathroom
- LR – Living Room
- DR – Dining Room
- GR – Great Room
- FR – Family Room
- BSMT – Basement
- FP – Fireplace
- CA – Central Air
- FSBO – For Sale By Owner