Orlando FL real estate listings and homes for sale, home buying, home selling information, The Yao Team at Keller Williams Advantage II Realty - Homepage

Orlando area residential real estate specialists, covering Orlando, Oviedo, Winter Springs, Lake Mary, Longwood, Altamonte Springs, Maitland, Winter Park, Casselberry, Geneva, Chuluota, Sanford, Apopka, Windermere, Dr. Phillips, Lake Nona.

 Happy August!  Time truly flies.  In a blink of the eye, the summer is almost over!  Many are ready for cooler weather.  Hope you have a great August.

Some of you have asked me various real estate related questions that can be answered by explaining how the MLS system works.  So here it is…

What is the MLS and how does it work?

MLS stands for Multiple Listing Service.  It is an electronic posting system on which real estate agents post their listings of homes for sale.  It is the backbone of the residential real estate industry.  At the core of its complex structure, there is simple elegance in how this unique system works for everyone’s benefit. 

First, let’s consider markets without the benefit of a multiple listing service.

I have colleagues in several European and Asian countries.  When buyers want to buy a home there, they have to painstakingly visit every brokerage and ask to see its in-house inventory of listings.  It’s hard to scour the market and find every home that’s a potential match.  There is no comprehensive system.   Buyers have to go and shop at brokerages that work for the seller.

In contrast, home buyers here have access to ALL listed homes.  A buyer can work with an agent to scour the MLS for all listed homes that match the buyer’s criteria.  A buyer gets to compare and make the purchase decision based on the best fit, value, and terms.  There is the best chance to find the right home compared to any other method.  An agent can show homes listed by all other brokerages.  As a result, a buyer’s agent has inventory of every listed home on the market.  And a listing agent has access to all the buyers in the market place.

For a system to be so time-tested and work so well, there are 3 fundamental attributes it must have: (1) The listings inventory must be comprehensive.  (2) The information must be reliable.  (3) There must be incentive for all to use it. 

(1)The comprehensive listing inventory is achieved by the stipulated agreement of MLS members and local real estate board that all listings of a member brokerage will be posted.  Effectively ensuring the MLS contains virtually all homes listed for sale.

(2) The reliability of the information and listing status is enforced by rules and regulations that result in fines for mistakes and non-compliance.  It is both supervised and self-policed.  Any agent can report errors in a listing by a simple click of a button.   This is in contrast to most of the 3rd party consumer real estate websites which famously contain egregious errors, misinformation, and outdated data.

(3) Finally, the incentive is accomplished by the fact that when a listing is posted on the MLS, there is compensation offering to buyer’s agents for procuring buyers.  The listing brokerage is in effect recruiting all the available agents to bring buyers to complete the sale of a listed home.  This is why a Keller Williams agent can sell a RE/Max listing, a Coldwell Banker agent can sell a Watson listing, and so on. 

The benefit for a home buyer has been illustrated above.  For a home seller, the benefit is maximum exposure to all potential buyers.  When you want to sell a product, you want every potential customer to know about it.  Through MLS and its myriad syndications, a home listed on the MLS even has global reach.  I routinely receive international inquires on homes I list locally! Maximum exposure creates maximum demand which results in highest achievable price. 

Now you know the importance of the MLS, make sure your agent understands the inner workings of this system and how best to maximize its utility as a tool.  A tool is only as good as the individual using it. 

Hope this discussion has been informative for you.  I can talk about real estate all day but I must stop here!  :)

Until next month, take care!  

 

*Finding Your Next Home or Next Investment*

Take advantage of a professional buyer consultation. The Home finding process is not just a database search. Nothing replaces the value of working with an experienced buyer representative. Have a conversation about what you want, and we will work together and guide you towards your dream home.

 


*Selling a Home*

To maximize your chance for selling and at the top possible price, you truly need an exceptional team that has the means and systems to give your home the maximum exposure, a seasoned negotiator that has the skills to represent your interest, and an experienced guide to navigate pass the many pitfalls of a real estate transaction. If you are thinking about selling your home, please give The Yao Team the opportunity to show you how it does pay to hire a specialist.


The Market is Always Changing!
Market Trend Knowledge is Paramount!

In the last 13 years, Orlando’s real estate market went through an unprecedented upheaval, on a scale much more exaggerated than what the nation experienced as a whole. In early 2000’s, Orlando enjoyed aggressive home price appreciation. This attracted investors & speculators from around the country & even internationally.  This in turn drove the demand to a fevered peak up until early-mid 2005.  We now understand this was driven by unsustainable lending of easy money. The market started turning in late 2005 and spent 2006, 2007, 2008, and 2009 in decline. In 2011 the market found “saw-tooth bottom”, driven by a different kind of investor demand.  Home prices are have been rebounding since 2012.  We will discuss the current market condition with you in depth.  You need the up-to-date market information to help you make the right decisions.

 

 

To sell a home in a shifting market, you must market your home expertly & price your home competitively. Your home must be staged & show-ready in order to capture the buyers that do come through your home. To maximize your chance for selling and at the top possible price, you truly need an exceptional team. We have the means and systems to give your home the maximum exposure. We are seasoned negotiators that have the skills to represent your interests and help you navigate pass the many pitfalls of a real estate transaction. If you are thinking about selling your home, please give The Yao Team the opportunity to show you how it does pay to hire a specialist.  


We Can Make the Difference
Are you feeling overwhelmed? Buying or selling a home is one of the biggest decisions you'll ever make. A professional who is understanding and dedicated to your needs is an invaluable partner in achieving your goals. As full-time agents, we are  committed to helping you through the entire process, making your real estate transaction a positive and rewarding experience.

  • Your best interests are our top priority.
  • Our focus is on giving you personal attention and the best service.
  • We know the local neighborhoods, schools, market conditions and more.
  • We will make your transaction as smooth as possible.

 

Get the advice you deserve
The Internet is a great place to find information. But it can't give you the in depth local knowledge and personal service of a local real estate agent. The challenges are getting more complex every day.   Finding the right home for the buyer or bringing the right buyer for the seller is only half the process.  Managing the whole transaction from the skillful negotiation of a contract to finally bringing it to a successful closing takes a full blend of contractual knowledge, transactional experience, patience, diligence, and creativity. You need a professional that is on top of the market who will protect your interests and guide you through the transaction step by step.

Call for a Consultation today
We would be honored for the chance to help you. Please call or e-mail us for an appointment to discuss your real estate needs. Thanks for stopping by our website. We're looking forward to hearing from you!
 

 

 

 

 

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