Real Estate News with Terri Taydus, AHWD, CNA, CRS, GRI

IMPORTANT: Changes in The Local MLS Could Affect Your Listing or Property Search

March 2nd, 2017 5:46 PM by Taydus Taydus, AHWD, CNE, CRS, GRI

What is the MLS and why is it important to understand your options if you are buying or selling a home? MLS stands for Multiple Listing Service.  This is the data base licensed real estate agents access when looking for available properties to share with their buyers. Realtors® also use this data base when searching for comps to help determine the suggested list price for your home.

As a seller it is important that your home have maximum exposure in the MLS so that agents can find your home to share with their home buyers.

As a buyer it is important that the Realtor® that you are working with have access to the MLS so that they can send you as many available properties as possible to choose from.

Here along the Front Range we have two predominate MLS’s; IRES and REcolorado. IRES is the predominate MLS used for Boulder County and much of Broomfield, Westminster and the surrounding areas.  REcolorado aka: Metro, is the predominate MLS used in the greater Denver area as well as much of Broomfield and Westminster and surrounding areas.

Even though each system services its own geographic area there are often times some overlap.  For example, if an agent from Denver lists a property in Boulder County it used to appear in both MLS’s for agents both in the Denver area and Boulder County to access. Now, unless your Realtor® belongs to both systems it will only show up in the system that they subscribe to.  

Prior to March 2, 2017 both of the local MLS’s worked together and when you searched in one, or listed a property in one, it showed up in both.  This assured that you had the maximum exposure whether you were listing your home to sell, or searching for a new home to purchase.

As of March 2, 2017 this is no longer the case.  The two local MLS’s went their separate ways.  So why is it important for you to know this? As a licensed Realtor® I pay an annual fee to belong to IRES.  As of yesterday I also paid to join REcolorado.  This is to insure that my clients continue to get the maximum exposure whether buying or selling.

 If you are buying or selling a home in the local Boulder / greater Denver area

it is important that you work with a Realtor® that subscribes to BOTH systems.

 A note to my current clients; please bear with me while I learn the new REcolorado MLS.  It is very different from IRES and it may take a little time for me to get your property searches running smoothly in both systems

If you have any questions, please do not hesitate to contact me J

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Posted by Taydus Taydus, AHWD, CNE, CRS, GRI on March 2nd, 2017 5:46 PM


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