Saturday, March 31, 2012

What is the Multiple Listing Service?

What is MRIS?  How can I get local sales statistics to learn more about home values in my area?  What is the best resource to search local property for sale?

Well, I might answer those questions with a few more.  Did you know our local multiple listing service provides the most accurate database and search engine for finding property?  Did you also know the MLS maintains the best public source for local housing market statistics?

Below I've addressed a few of these and other questions...

What is the "multiple listing service"?

  • Metropolitan Regional Information Systems (MRIS) is the nation’s largest multiple listing service system covering the Mid-Atlantic region, including Maryland, Virginia, Washington, D.C. and parts of Pennsylvania, Delaware and West Virginia. Founded in 1993, MRIS is the database where all local property listed by real estate brokers is maintained.

  • When you see a local property at any real estate website online it originated from MRIS in a listing uploaded by a real estate agent or broker licensed in that jurisdiction.

Where can I get local sales statistics?

  • Real Estate Business Intelligence (RBI) is the research component of MRIS. RBI provides the most recent and accurate housing market statistics to the public based on actual sales recorded in MRIS.

  • At RBI you can search sales statistics by zip code, county, or region.

Where can I search for property?

  • Homes Database is the public property-search engine of MRIS. Here consumers can search all homes, townhouses, condos, and coops listed by real estate brokers.  Categories include: active listings, properties under contract, and open houses.

  • Because Homes Database is produced by MRIS, new listings and changes in price and status are available here first, before they reach other sources online.

Contact me for more information on our local real estate market, recent sales statistics, and on buying or selling a home. I'm always available for your questions and happy to consult with you on your real estate needs.

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