| When buying or selling properties in Arizona, | | | | MLS. Payson, a popular mountain town for |
| one could get virtually nowhere without the | | | | second home buyers, on the other hand, has |
| Multiple Listing Service (MLS). The MLS is a | | | | its own system with less than 1000 members. |
| database of homes for sale and an offer | | | | La Paz County MLS which primarily serves |
| amongst brokers to compensate one another if | | | | Parker, Arizona, has an MLS with only a |
| they represent a buyer that purchases their | | | | handful of member-brokers. One MLS in the |
| listed property. It is the single best | | | | Eastern part of state is nothing more than a |
| marketing tool available for sellers. For | | | | small website with a short list of |
| buyers, it is the single best means of | | | | properties. |
| finding homes. By hiring a real estate agent | | | | |
| with MLS access or browsing MLS listings on a | | | | It is extremely important to be placed in the |
| website, buyers can locate a multitude of | | | | correct MLS. A property in Prescott, Arizona, |
| purchase options without having to drive | | | | would need to be listed in the Prescott MLS |
| around all day looking for "For Sale" signs. | | | | to be visible to local Prescott Realtors |
| Both buyers and sellers can use MLS sales | | | | working with their clients. Even if a |
| data to identify similar sold properties | | | | particular Prescott Realtor also worked the |
| ("comps"), an extremely useful step in | | | | Valley of the Sun and held an ARMLS |
| deciding how to price a property or what to | | | | membership, they would not log in to ARMLS to |
| offer. | | | | locate properties in Prescott. They utilize |
| | | | the Prescott MLS when looking for or listing |
| While the MLS is an extremely useful tool, | | | | Prescott properties; they would make use of |
| how it is set up is a mystery to most | | | | ARMLS for Maricopa and Pinal county (Phoenix |
| homeowners. While MLS systems are typically | | | | area) properties. Some buyers and sellers |
| set up as a separate corporation, each MLS is | | | | mistakenly believe that ARMLS is a statewide |
| affiliated with local associations of | | | | MLS, allowing a Phoenix-area Realtor to list |
| Realtors. In some cases, multiple | | | | properties statewide and allowing them full |
| associations will combine to form or own | | | | access to MLS data on all properties in the |
| their own an MLS. For instance, in | | | | state. This is not the case. Each area has |
| Northwestern Arizona, three separate Mohave | | | | its own system, its own membership |
| county-based Realtor associations, Bullhead | | | | requirements and fees, its own policies, etc. |
| City, Lake Havasu City, and Kingman, have | | | | In Southern Arizona, for instance, some |
| combined their systems to form one system | | | | Realtors have joined 3 different MLS's: |
| called WARDEX (Western Arizona Regional Data | | | | Tucson Area, Green Valley, and Southeast |
| Exchange). In the Phoenix area, five separate | | | | Arizona in order to tap into a larger number |
| associations share the same system called | | | | of communities. |
| ARMLS (Arizona Regional Multiple Listing | | | | |
| Service). | | | | Being placed in the correct MLS system is |
| | | | critical to sellers of residential real |
| Multiple Listing Services vary greatly in | | | | estate. Taking a minute to understand the |
| size. The Phoenix system, ARMLS, is the fifth | | | | different systems in Arizona is beneficial |
| largest in the nation with approximately | | | | for all homeowners. |
| 40,000 members. Tucson also has a very large | | | | |