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.
1. www.mls.com.ph
The only Multiple Listing Service in the Philippines with Data License
Agreement with Move Inc. , operator of www.realtor.com/international
2. 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
3. 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.
4. 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.
5. Key MLS Policies
• Fourteen Points on Multiple Listing Policy
• MLS Governing Documents
–MLS Bylaws/MLS Rules and Regulations
6. Key MLS Policies
MLS 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.
7. 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.
8. 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
9. 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
10. 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.
11. 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.
12. 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
13. 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
14. 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
15. 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
crebanar@yahoo.com for more details
16. 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
17. 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
18. 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
19. 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.
20. 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.
21. 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.
22. Q. Will MLS display expired, withdrawn
Listings?
A. No , MLS will remove expired and
withdrawn Listings.
23. 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.
24. 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.
25. 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.
26. 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.
27. How to be a Member @ www.mls.com.ph
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
28. 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
29. ACT NOW
and have your LISTINGS integrated at
www.realtor.com/international
JOIN
AND SUBSCRIBE TO
www.mls.com.ph
NOW
35. GET YOUR
LISTINGS integrated at
www.realtor.com/international
SUBSCRIBE
TO
www.mls.com.ph
NOW