As a real estate broker, you rely heavily on multiple listing service (MLS) software to search for properties for sale that might be a good match for your clients’ needs. Many commercial off-the-shelf (COTS) MLS software applications are available and may be good enough to meet your requirements. But, if you find yourself wishing for necessary features that aren’t there, or finding unnecessary ones that get in the way, it may be time to consider custom real estate MLS software development.
What Is MLS?
According to Investopedia, “[An MLS] is a database established by cooperating real estate brokers to provide data about properties for sale.” It can be in the form of a physical book or an electronic format and enables brokers to see other brokers’ property listings to find the best matches for their clients looking to buy. Brokers pay a membership fee to receive updates on an MLS. It benefits all brokers by making information available that leads to deals closed and commissions earned.
MLS software enables brokers to access an MLS and perform searches based on specific criteria. It can include multiple MLSs from different regions within the U.S. Some MLS software applications focus on certain types of listings, such as foreclosures and auctions, or rental properties, which makes it easier for brokers seeking such properties for their clients.
The software supports the buying and selling of residential and commercial property by helping brokers match their clients with available listings. It can integrate with customer relationship management (CRM) software to enhance this process even more.
What to Look For
When looking for an MLS software application, consider the following features.
- Search engine. The application should have a robust search function that includes filters for things like location and size.
- Specific focus. As mentioned above, some applications focus on certain types of properties, such as auctions. If such attributes are important to your clients, this feature may be important.
- Specific regions. Be sure the applications you’re considering cover the regions you want to search in.
- Mobile version. If you’re like many brokers, you are constantly on the go and need to take your work with you. Be sure the application you choose has a mobile version so you can always access important information.
Custom MLS Software Development
Even if you ensure the MLS software you choose has the features you want, like those listed above, that may not be enough to meet your specific needs. If that’s the case, consider custom real estate MLS software development. Some features custom MLS software can provide include more in-depth analysis and detailed reports, interactive maps, mobile access with real-time alerts, custom tools, and custom design.
Custom software development services enable you to design an application that works with your unique processes, rather than the other way around. By increasing your efficiency, it can help you generate more leads and close more deals. And, by avoiding hidden costs, it can ultimately save you money.