Real Estate: Navigating the Multiple Listing Service (MLS)

31mBeginner2020-11-10

Authors

WealthFit

An e-learning company focused on financial education

Madecraft

Full-Service Learning Content Company

Course details

The multiple listing service (MLS) is one of the most powerful resources a real estate investor can have. This essential tool helps you drill down on your searches for motivated sellers with laser-like precision. Only licensed real estate agents have access to the MLS—but don’t worry! In this course, learn how you can easily gain access to this exclusive tool and how to use it to find profitable opportunities. Get an overview of what the MLS is and what it can do for your real estate investing endeavors. Review the key things to look for in a real estate field agent, as well as how to hone in on your search for the right properties. Plus, learn five essential steps you should take before viewing a property.

Skills covered

Small Business FinanceSmall Business and EntrepreneurshipFinance and AccountingOne-Off

Concepts

0. Introduction

01 - What is covered in this course
02 - What is MLS and how can you use it

1. Agents in MLS

03 - Successfully working with agents
04 - Finding the right real estate field agent
05 - Compensating your field agents

2. Searches in MLS

06 - Identify criteria with regards to market, size, and location
07 - How you can excel in your MLS searches
08 - Search for REO properties

3. Before Property Viewing - A Five-Step Process

09 - Filtering your buyer criteria to excel
10 - Understanding the seller's situation
11 - Determining property condition
12 - Valuing the property before and after repairs (ARV)
13 - Calculate deal numbers

4. Preparation for Next Steps in MLS

14 - Perform a property walk-through
15 - Excel against the competition

5. Future Offers

16 - How you can make an offer
17 - Writing a strong offer to excel
18 - Understand offer requirements
19 - Set goals to make offers
20 - Following up with your offers

Conclusion

21 - Your path forward