This regularly-scheduled sponsored Q&A column is written by Eli Tucker, Arlington-based Realtor and Rosslyn resident. Please submit your questions to him via email for response in future columns. Enjoy!
Question: Can you explain what an MLS and MRIS are and how they relate to home sales?
Answer: I got this question from a few people after last week’s article about the type of data available to agent’s, that’s not available on consumer-facing sites. Over the years, I’ve found that a lot of people are familiar with the terms MLS and MRIS, but not quite sure how it ties into the real estate sales process. The following explanation is 100% my own, in an attempt to simplify it for ease of understanding.
What is a MLS (Multiple Listing Service)?
An MLS is a real estate information exchange platform and database created by cooperating residential real estate brokerages to improve the efficiency of their real estate market. As a privately created and managed organization, each MLS is primarily funded through the dues of the brokerages and agents within the market it serves. There are hundreds of MLS’s across the country and each operates under its own direction and rules & regulations. The information you find on consumer-facing websites like Zillow, Realtor.com and Homesnap comes from various MLS’s and each MLS has the right to negotiate its own relationship (syndication agreements) with these sites and determine what information is made available. I recall reading something last year about an MLS in Pennsylvania that was considering blocking 100% of their data from Zillow.
What is the MRIS (Metropolitan Regional Information Systems)?
MRIS is the MLS that serves our region including Virginia, Washington DC, Maryland and parts of Pennsylvania, West Virginia and Delaware. It is one of the largest MLS’s in the country by size and geographic area and supports nearly $125B in annual real estate sales. Having an MLS that services such a large area provides substantial value to the consumer because it allows sellers, who work with an agent, access to a wide audience and ensures that buyers searching online will see the same homes for sale, regardless of which website they’re on.
The Executive Committee and Board of Directors is made up of representatives from the region’s major brokerages and directs the business of MRIS, which has developed into a full-blown software, services and technology company consisting of familiar roles such as Director of Marketing, Director of Customer Support and Chief Operating Officer. MRIS leadership has adopted a strict set of rules & regulations to provide data uniformity and ensure fair play.
The primary interaction agents have with MRIS is through the online portal to enter their listings (homes for sale) and search for homes for sale on behalf of buyer clients. Agents can send listing information directly to clients via MRIS, but some brokerages and 3rd party vendors have built slick programs that interface with MRIS and allow for a better agent-to-client interface using MRIS data. MRIS is a one-stop-shop for agents in our area to find nearly 100% of homes for sale, coming soon to the market and past sales.
Without MRIS, our real estate market would be fragmented and inefficient for consumers, agents and industry partners, so overall it provides a huge benefit to the regional real estate market. However, like most industry-focused companies built before the latest technology revolution, it lags in customer experience and user interface design, which are areas MRIS is working on to provide both agents and consumers a better end-to-end experience.
If you’d like a question answered in my weekly column, please send an email to [email protected]. To read any of my older posts, visit the blog section of my website at http://www.RealtyDCMetro.com.
Eli Tucker is a licensed Realtor in Virginia, Washington DC, and Maryland with Real Living At Home, 2420 Wilson Blvd #101 Arlington, VA 22201, (202) 518-8781.
A 3 BD/3.5 BA four level brick townhome with a private roof deck and finished 2 car garage is included in Just Reduced.
Good Tuesday evening, Arlington. Today we published articles that were read a total of 16176 times… so far. 📈 Top stories The following are the most-read articles for today —…
A teenage girl on an electric scooter was seriously injured after colliding with a driver near Washington-Liberty High School earlier this afternoon. Shortly after 1 p.m. on Tuesday, police were…
Arlington County is offering residents free training on the anti-overdose drug Narcan. The sessions are available as an hour-long online training course or an abridged, 10-minute training over the phone….
EDBS Dental Billing Solutions is pleased to announce that it has achieved compliance with the federally mandated standards of the Health Insurance Portability and Accountability Act (HIPAA) through the use of Compliancy Group’s proprietary HIPAA methodology, The Guard® compliance tracking software, and HIPAA Seal of Compliance®.
The HIPAA Seal of Compliance is issued to organizations that have implemented an effective HIPAA compliance program through the use of The Guard, Compliancy Group’s proprietary compliance tracking solution.
Clients and patients are becoming more aware of the requirements of HIPAA compliance and how the regulation protects their personal information. Forward-thinking providers like EDBS Dental Billing Solutions choose the HIPAA Seal of Compliance to differentiate their services.
“Since the nature of our business being exclusively remote, we take HIPAA compliance very seriously. With the help of Compliancy Group, we are able to take steps to fortify our systems to protect PHI information and familiarize each employee about HIPAA and how we can further safeguard PHI data.” said EDBS Dental Billing Solutions founder Goldie De Leon.
Are you feeling overwhelmed or struggling to cope with life’s challenges? You’re not alone. Mental health issues are more common than you might think, and seeking help is a sign of strength, not weakness.
Our counseling service provides a safe, supportive environment where you can explore your feelings, identify negative thought patterns, and learn coping skills to manage your symptoms. Lauren is trained in evidence-based practices and specializes in a range of mental health concerns, including anxiety, depression, trauma, and addiction.
We understand that seeking counseling can be intimidating, but we believe that everyone deserves to live a fulfilling, happy life. Our approach is non-judgmental and compassionate, and we work collaboratively with you to develop a personalized treatment plan that meets your unique needs and goals.
We offer a free 15-minute consultation to see if our service is a good fit for you. Reach out at https://peacefulmindsolutions.com or call (703) 994-0300 to set up a consultation.
Singin’ in the Rain
The “Greatest Movie Musical of All Time” is faithfully and lovingly adapted for the stage by Broadway legends, Betty Comden and Adolph Green, from their original award-winning screenplay. Each unforgettable scene, song and dance is accounted for, including the show-stopping
5 Tips for Buying Your Dream Home – A Free…
Are you planning to move in the next 12 months but feeling overwhelmed by the current real estate market’s low inventory and high mortgage rates? Join us for a short seminar where we’ll provide 5 tips to help you find