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        <title>The Monopoly Report®</title>
        <link>http://www.carlandcompany.com/blog/</link>
        <description />
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            <link>http://www.carlandcompany.com/blog/mls-multiple-listing-service.html</link>
            <author>Carl@CarlAndCompany.com (Carl Eschenburg)</author>
            <title>MLS Multiple Listing Service</title>
            <description> <![CDATA[ 
M·L·S | acronym | Multiple Listing Service


A multiple listing service or "multi-list" is a private forum in which participating member brokers and REALTORS® share information about  real estate they have available for sale or lease. In years past the MLS was a literally a book that held paper listing tickets detailing area listings of "Cooperating Brokers". Today the MLS has evolved into a network of sophisticated computer databases offering both private (members only) and "public" access.


By listing properties in this forum agents are able to market them directly to a very large and focused audience: the thousands of area agents who represent actively shopping buyers.


As a listing agent the primary objective is, and always should be, effective marketing of a client's property. Simply put:




If no one knows your home is for sale then it will never sell.




The MLS is an effective way to introduce a new home to the market because it leverages the relationships of thousands of buyers working with area agents who may not be part of your listing agent's company.


Since the Michigan Multiple Listing Services require a professional designation for subscription and because Michigan is a Buyer's Agency State, having your home listed on MLS assures you that area professionals will be exposed to your home and have the opportunity to review and present it to buyers your listing agent would not otherwise have access to.


While there are many additional marketing and advertising tools needed to effectively sell a home in today's challenging market, the Multiple Listing Service is an essential tool agents should be using. Be sure when selecting an agent to list your home that he/or she is a member of at least one MLS, and is willing to list your home quickly and accurately using this resource.
 ]]> </description>
            <pubDate>Fri, 25 Mar 2011 09:32:24 -0500</pubDate>
            <category>Real Estate Terms</category>
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            <guid>http://www.carlandcompany.com/blog/functional-obsolescence.html</guid>
            <link>http://www.carlandcompany.com/blog/functional-obsolescence.html</link>
            <author>Carl@CarlAndCompany.com (Carl Eschenburg)</author>
            <title>Functional Obsolescence</title>
            <description> <![CDATA[ 
ob·so·les·cence | noun | a loss in the utility or value of property that results over time from intrinsic limitations (as outmoded facilities) or external circumstances.




func·tion·al ob·so·les·cence
:: obsolescence deriving from lack of adequate or appropriate equipment, space, or design.




Real Estate Examples:




Homes with 3 bedrooms and only one bath were popular in the 50s and 60s, but are now considered functionally obsolete because most buyers want a minimum of two bathrooms.


Homes with detached, 1 or 1.5 car garages are functionally obsolete; homeowners don’t want to walk that far (especially in the snow and rain) and most have a second vehicle or “Stuff” for which they need storage.


Think about how things have changed in the past 15 years with home technology alone. It was a big deal to have a house pre-wired with multiple analogue phone lines just a few short years ago. Today, few people even have land lines in their homes? 


Houses with CAT-5 (Computer network) wiring in every room were very attractive for a short period of time, but now that wi-fi is available and so reliable network wiring is an obsolete solution for most residential situations.


 ]]> </description>
            <pubDate>Tue, 15 Mar 2011 07:57:21 -0500</pubDate>
            <category>Real Estate Terms</category>
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