Property listing Information is critical to the commercial real estate industry. Unfortunately, it is expensive to obtain all the needed commercial real estate property listing and sales information.
Investors, brokers, buyers, and sellers with access to more information can make better investment decisions.
This article will explain how to find reliable commercial real estate MLS property listing information without paying high fees.
What exactly is an MLS (Multiple Listing Service)?
Many real estate websites and companies claim to be an MLS or contain MLS property data, but what really is an MLS?
An MLS is an organization of member real estate brokers setup to share property listing information and cooperate in selling properties.
Broker members add property listings to an MLS database, so members may see what properties are available for sale. Listing brokers agree to pay a cooperating commission to the broker representing the buyer on a property sale.
Accessing MLS property information: Commercial vs. Residential
Most MLS’s include both commercial and residential property listing information. Brokers may list either type of property in the MLS.
Fee based advertising websites like LoopNet are also a place where brokers list commercial properties. But not all brokers want to pay a recurring monthly fee to advertise a property.
Commercial real estate information is available to real estate professionals at a much higher cost compared to the residential market. Major commercial real estate listing platforms can charge high listing and access fees because not all commercial brokers are active members of an MLS.
Residential property listing information is available to anyone through residential listing websites such as Zillow, Redfin, Realtor.com, etc. These residential listing sites aggregate properties from different MLS sources and provide the information on their site for free.
Commercial property listing information is not freely accessible like residential listing information. Industry participants have had to join an MLS or commercial real estate subscription platform like CoStar to access commercial property information.
Why search commercial real estate MLS property listings?
Individual MLS’s provide reliable property listing information at a cost much less than the national listings platforms used by large real estate brokers. Many properties found on local MLS’s are not found on national commercial real estate advertising platforms such as LoopNet or CoStar.
Many Brokers and sellers refuse to pay the high monthly fees to advertise their properties on the pay to list or subscription fee platforms.
Investors can obtain an information advantage through searching MLS property listings that are not found on the national listings platforms.
How to search commercial real estate MLS listings without paying subscription fees?
Currently, there is no platform with access to commercial real estate MLS property listings across all US markets. There are hundreds of individual MLS’s with different formats, rules, and data.
Many different platforms exist for searching commercial real estate listings that are not officially a part of an MLS. See the article Guide to Commercial Real Estate Search and Listing Websites for a detailed overview of how these websites compare.
Some local commercial real estate brokerage firms may provide users access to local MLS information through their brokerage websites. But few brokerage firms have access to complete information across several MLS’s.
MarketPier is a website where anyone can search commercial real estate MLS property listings. In full disclosure, MarketPier has provided the content in this article. MarketPier believes it is important for everyone to have free access to all commercial real estate property listing and sales information.
MarketPier shows MLS property listings in most markets throughout California. Anyone can also add property listings for sale or lease in any market throughout the US.
Unrestricted access to commercial real estate listing information helps make the commercial market more open and transparent. The future of the commercial real estate market is open sharing of property listing information without high access fees.