MLS Philippines

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The only Multiple Listing Service in the Philippines with Data License Agreement with Move Inc. , operator of www.realtor.com/international www.mls.com.ph

description

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

Page 1: MLS Philippines

The only Multiple Listing Service in the Philippines with Data License

Agreement with Move Inc. , operator of www.realtor.com/international

www.mls.com.ph

Page 2: MLS Philippines

Multiple Listing Service ( MLS)� Multiple Listing Service is an Optional Service provided

to International REALTOR® Members (IRMs) and extended to all PRC Licensed Real Estate Practitioners

� a facility for the orderly correlation and dissemination of listing information so participants may better serve their clients and customers and the public

� a means by which information is accumulated and disseminated to enable authorized participants to prepare appraisals, analysis, and other valuations of real property for bona fide clients and customers

� a means by which participants engaging in real

estate appraisal contribute to common databases

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Key Element of MLS� A key element to what makes an MLS unique is that

its a unilateral offer of compensation from the listing broker to cooperating brokers who find the buyer.

� In an MLS, listing brokers agree to pay cooperating brokers a percentage of the sales price or a flat Peso amount if they find the buyer for a property they have listed.

� MLS – simply put – is the an exchange of

property information for sale or lease and offers

of compensation that lead to cooperative sales

and lease transactions.

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MLS Benefits

� Buyers and sellers benefit from cooperative agreement and efficient consumer marketing.

� The public benefits because MLS creates, maintains and shares an aggregated market for real estate.

� MLS creates historical sales data that can be used for valuing property, including appraisals, comparative market analyses, broker price opinions, etc.

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Key MLS Policies

• Fourteen Points on Multiple Listing Policy

• MLS Governing Documents

–MLS Bylaws/MLS Rules and Regulations

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Key MLS PoliciesMLS 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 not

1. Fix, control, recommend, or suggest the commissions or fees charged for real estate brokerage services

2. Fix, control, recommend, or suggest the cooperative compensation offered by listing brokers to potential cooperating brokers.

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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.

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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

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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 activities

12. Interfere in or restrict participants in their relationships with their affiliated licensees

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MISSION

� To empower, support and educate our International REALTOR® Members ( IRMs )/ PRC Licensed Real Estate Practitioners to achieve their goals by providing cutting edge resources that improve and enhance their Real Estate Business to the next level.

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VISION

� By embracing the acceleration of Information technology change, we lift the professional standards that fosters an environment that guarantees integrity and enlightenment and keeps our International REALTOR® Members (IRMs ) / PRC Licensed Real Estate Practitioners in the forefront of real estate as the premier source of accurate real estate data.

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Frequently Asked Questions

� Q. 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

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� Q. What are the basic elements of MLS

� A. Basic Elements :

• a facility for the orderly correlation and dissemination of listing information so participants may better serve their clients and customers and the public

• a means by which authorized participants make blanket unilateral offers of compensation to other participants or

• a means of enhancing cooperation among participants

• a means by which information is accumulated and disseminated to enable authorized participants to prepare appraisals, analyses, and other valuations of real property for bona fide clients and customers

• a means by which participants engaging in real

estate appraisal contribute to common databases

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� 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 MLS

� B. Only Listings of International REALTOR

Members (IRM) will be integrated to

www.realtor.com/international

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� 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 Council

� B. Go to www.crebanar.com and download

application from menu box …. Be a Member

� C. Call CREBA at (632)3732270 to 75 or email

[email protected] for more details

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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

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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

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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

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� 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.

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� 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.

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� Q. Can Listings be withdrawn from a multiple

listing service by participants prior to

the listing’s expiration date?

� A. Yes, Listings may be withdrawn from a

multiple listing service by participants

prior to the listing’s expiration date.

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� Q. Will MLS display expired, withdrawn

Listings?

� A. No , MLS will remove expired and

withdrawn Listings.

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� 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.

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� Q. Will MLS display seller’s(s’) and occupant’s

name(s), phone number(s), and e-mail

address(es)?

� A. MLS will maintain confidentiality of Seller’s

information.

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� 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.

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� 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 participant’s Listings in the MLS

compilation of current listing information.

Prior to any removal of a resigned participant’s

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.

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� Log on to www.mls.com.ph

� Create an Account ( see menu box at the upper right hand of the Homepage )

� A confirmation of your membership will be sent to your email

� Log on again to www.mls.com.ph , using your approved username and password.

� Go to Control Panel to Post your Exclusive / Direct Listings

� A Membership Manual will be provided for you to manage your Listings , account and profile.

� A Premium service is also provided for you to manage your Leads, Prospects and Clients

� Full access to Listing details of other Cooperating

Members, including rate of commission

� All full Features will be available to Premium

Members only

How to be a Member @ www.mls.com.ph

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� Q. What are the types of Membership ?

� Basic Membership : any PRC Licensed Real Estate Practitioners who subscribe and membership approved can avail the free posting of listings

� Premium Membership : Exclusive to International REALTOR ® Members (IRM) who subscribe and membership approved and had paid MLS Fees can post unlimited listings, avail premium services , like manage Leads, Prospects, Clients and integration of Listings to www.realtor.com/international

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ACT NOW

and have your LISTINGS integrated at

www.realtor.com/international

JOIN

AND SUBSCRIBE TO

www.mls.com.ph

NOW

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GET YOUR

LISTINGS integrated at

www.realtor.com/international

SUBSCRIBE

TO

www.mls.com.ph

NOW