Brainerd Lakes Area MLS Search

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Multiple Listing Services (MLS)

Multiple listing services (MLS) are organizational systems utilized by realtors to display their inventory of available properties to other real estate professionals. The concept of the Multiple Listing Service dates back to the late 1800's when realtors struggled to effectively advertise unique residential and commercial properties. Multiple Listing Services helped brokers display their available inventory to other realtors in a particular area. Multiple Listing Services also helped realtors set rates of commission sharing to entice other real estate professionals to assist them with sales of property.

Since the late 1800's, Multiple Listing Services have evolved into highly efficient methods of displaying real estate available for sale. Once listed on a Multiple Listing Service, or MLS, a property is assigned a unique MLS number that identifies the property. Real estate professionals who are members of the MLS system can use this MLS number to easily access hundreds of fields of information about an available property, including its size, location, type, amenities and price. While some of the MLS listing information may be available to the general public on the internet, other items such as the advertised rate of commission may be visible only to licensed brokers who are members of the MLS. Typically, MLS listings will include multiple pictures of the property, including interior and exterior views to entice buyers to take a closer look at a particular property.

Oversight of Multiple Listing Services is provided by private, generally local, entities. While MLS systems in North America are subject to the regulations set forth by the National Association of Realtors (NAR) and the Canadian Real Estate Association (CREA), the private entities regulating each individual MLS are in charge of establishing rules regarding their particular service. Each private entity regulating a MLS can decide what type of property information should be included in their particular region. They also establish rules regarding brokers' membership in the MLS and what information from each listing will be available to the general public in a particular locale. MLS systems not only provide a method of advertising unique real estate listings, they also help the buying and selling brokers to reach an agreement regarding the rate of commission for the sale of a particular property. While the rates of commission are usually included in MLS listings, these rates are generally still subject to negotiations between the selling broker and the buying broker.

While the largest MLS in the United States is Washington D.C.'s Metropolitan Regional Information Systems, Inc. (MRIS), other communities such as Manhattan have never opted to utilize a MLS system. Manhattan's lack of a Multiple Listing Service is often attributed to the highly competitive nature of the market. Instead of a MLS, Manhattan brokers rely on a system of informal cooperation. Large brokerage houses in Manhattan, frequently with inside information about new listings, have resisted the establishment of a formal MLS, possibly fearing that they will lose valuable access to available properties. However, Manhattan is an anomaly, and most communities employ a Multiple Listing Service to conveniently and effectively advertise available residential and commercial properties to buyers and their agents.

In north central Minnesota, the Greater Lakes Association of Realtors, or GLAR, is the private entity in charge of the area's Multiple Listing Service. The GLAR website provides information to both buyers and sellers of real estate with general inquiries regarding radon, mortgage loans, title insurance, rights of first refusal and other complex real estate issues. Additionally, GLAR operates the Brainerd Lakes Multiple Listing Service (Brainerd Lakes MLS) which helps real estate professionals connect buyers and sellers in the uniquely beautiful market of the Minnesota Northwoods.

MLS listings on the Brainerd Lakes MLS are broken down into five different areas: the Brainerd & Baxter area; Crow Wing County; Cass, Hubbard & Itasca Counties; Morrison & Todd Counties; and Aitkin & Mille Lacs Counties. Visitors to the Greater Lakes Associations of Realtors' website, can search from hundreds of available residential properties. Searches are easily customizable, so that interested buyers can quickly hone in on properties of the size, type and price desired. Searches can also be narrowed to particular neighborhoods or communities in the Brainerd Lakes area. Buyers seeking amenities such as lakeside access, boating docks, swimming pools or decks can browse the myriad of properties listed on the Brainerd Lakes Multiple Listing Service. If buyers fine a property they are interested in, the Brainerd Lakes MLS provides readily available information about how to contact the listing broker. If you don't find the perfect property, the Greater Lakes Association of Realtors can help you contact a reputable real estate broker who can help you in your search. Whether buyers are seeking a summer vacation home along the lake or a year-round 'dream' home, the Brainerd Lakes Multiple Listing Service, operated by the Greater Lakes Association of Realtors is sure to feature the perfect choice!