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What is MLS™?
The MLS™ System
To attain its high reputation, Vancouver Island Real Estate Board's Directors and committees have had to work together and co-ordinate their expertise. Members of the public usually interact with individual members of the Board - REALTORS - and not the VIREB itself.
This co-operative MLS™ system enables all members of the Board to share information about properties listed for sale. The Board is the nucleus, or operating heart, of the MLS™, which provides a sound, fast and fair merchandising structure to the buying and selling public and a sales tool that is one of the greatest benefits a licensee could possibly have.
Basically, the MLS™ is a professional network involving all VIREB's 802 REALTORS, representing approximately 68 offices in the Board area. The MLS™ maintains information on over 3,800 active listings of property for sale on the Island. Listings range from undeveloped lots to business opportunities or special properties. At any given time, there may be over 2,700 residential properties listed in the MLS™.
Networking
Through the use of MLS™, the computer and services of the Real Estate Board in concert with the expertise of the salesperson and the real estate firm, the marketing of property extends beyond the normal geographic boundaries of the community where the property is located. There are approximately 1,739 salespersons on Vancouver Island, including Victoria, who know and cooperate with their colleagues in other communities. In addition, there are over 70,089 salespersons spread across Canada - of which most have computer facilities similar to this Board, meaning direct access is available.
MLS™ Listings
On the average, the Board receives approximately 64 listings per day which are updated virtually every minute of every working day. The minute a listing is entered into the database, it becomes available to all salespersons. REALTORS are able to customize a house search specifically for their potential buyers simply by connecting to the VIREB computer at any time of the day.
MLS™ Listings on the Internet - http://www.mls.ca/
All listings on the MLS™ are also given Internet exposure, through the www.mls.ca site. This site, which is updated each business day with new listings and changes to existing ones, enables the public to search through all MLS™ listings across Canada (over 80 Board listings are included) - and makes contacting the Listing Salesperson easy and convenient - from anywhere in the world! Statistics show that VIREB's property feature sheets viewed on the Internet each month are constantly on the rise. This site acknowledged approximately 5,000 hits in April, 1996 -- and has grown to over 587,420 in November 2003.
John and Teresa Sandiford - your waterfront and Oceanside residential specialists
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