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5 Ways Real Estate Investors Gain Access to The MLS: Real Estate Investing for Beginners - YouTube
Channel: Mashvisor
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let's talk about all things mls and
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where you as an investor can get access
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in this video we'll discuss what is the
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mls
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who has access to the mls what does it
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do for investors five ways for investors
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to get to the mls we'll go over an mls
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listing talk about terms that you'll
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find on the platform and finally we'll
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go over what is cma
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[Music]
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what is the mls
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the mls or multiple listing service is
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the database of homes for sale that real
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estate agents use to help clients find
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properties
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it includes information on homes that
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are currently listed for sale as well as
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those that have recently sold and it's
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really great way to get up-to-date
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information on a housing market
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by using the mls they can see detailed
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property descriptions photos and price
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histories of a piece of real estate they
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can search for properties that meet a
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specific criteria such as location price
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range number of bedrooms and baths
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building style and more and it allows
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agents to create the ever needed cma or
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comparative market analysis which we
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will speak more of later on in the video
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who primarily uses the mls
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while the mls is a great resource for
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buyers and sellers it's primarily used
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by real estate agents and this is
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because agents are allowed to pay for
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access to list homes for sale and find
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homes for their clients although many
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sources contribute to the data the mls
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is composed of in order to have access
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to the mls one must be a real estate
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agent or uh in a brother and sister role
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of an agent
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to officially have access meaning
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real estate brokers transaction
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specialists
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office help mortgage brokers
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roles like that
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and this is kind of a problem for some
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people because many individuals are not
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directly tied to an agency
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but they still could really benefit from
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accessing the data the mls provides
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what specific advantages does
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mls provide to investors specifically
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well it streamlines their work it
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organizes property information tax data
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sales and
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property history
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it even has contact information of
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others in the business it's all
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on one single platform also it provides
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a window to listings for sale that all
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hungry investors want to find out about
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and again it's all compiled into an easy
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to use single
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platform
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so if you're an investor and you're not
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in an agency here are five ways you can
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access the mls
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[Music]
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to begin one of the most obvious ways an
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investor can gain mls access is by
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working with a real estate agent
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it's not probable that they will give
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you their password outright but they
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will
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likely be willing to help you find what
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you're looking for and pull up
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comparable properties for your reference
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of course a real estate agent can
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provide a number of services that are
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beneficial to investors such as
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they can book showings negotiate deals
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and handle and supervise transactions
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one of the most important things that a
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real estate agent does for
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our investor purposes is they help to
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find properties that fit specific
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investment criteria
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finally a real estate agent can provide
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an investor with market analysis which
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is again something we will talk about
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later
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and this is important because it helps
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the investor to understand the market
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and to make informed investment
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decisions number two use a property
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listing website there are many property
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listing websites that have mls listings
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on them
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some examples of these websites are
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zillow trulia redfin and of course
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mashvisor and mashfizer is special of
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course because it combines mls listings
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with listings from other resources to
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create what they say is the ultimate
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database of investment properties for
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sale
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in addition to pulling its data from the
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mls it uses predictive analytics and
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algorithms to provide its results and
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analysis so that you understand what the
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heck you're looking at it's always
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important
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so if it turns out you cannot gain
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access to the mls using one of the ideas
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mentioned in this video today
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do check out mash visor and you'll get a
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free seven day trial by using the link
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in the description
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number three buddy up with other
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professionals meaning non-real estate
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agents in the business many real estate
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industry professionals use the mls to
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complete their daily job tasks
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real estate appraisers are a good
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example of this real estate attorneys
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and
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earlier i mentioned mortgage brokers
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they all have access and if you're
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friends with one of them they can often
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provide you with the information that
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you need
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now it should be mentioned that you
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cannot list anything this way an
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appraiser for example just
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pulls comparable data and uses the mls
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to research property history but they
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don't actually sell anything
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for that to occur you would need a
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licensed real estate agent who
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themselves have paid access
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number four take a real estate class
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many community colleges offer real
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estate classes and these classes often
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come with
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access to the mls just for educational
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purposes and this is a really great
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option for you to gain access that you
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need as an investor and also learn about
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the business too
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and number five get a job with a real
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estate company
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another way to access the mls is to work
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for a real estate company this could be
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anything from
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taking on the role of a receptionist to
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working in the marketing department as
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long as the company employs you you
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should have some kind of access to the
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mls if you want it and therefore you can
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get your information as needed
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so say you gained access to the mls i
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thought it might be helpful to go over
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the information in an mls listing and
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maybe talk about some terminology that
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you will encounter on the platform
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an mls listing typically includes the
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information about the property such as
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its address square footage
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the number of bedrooms and bathrooms
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and any special features or amenities a
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property might have
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the listing will also include
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information about the listing agent and
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their contact information for scheduling
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and making showings
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it also includes photographs of the
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property and information about the
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surrounding area schools and local
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attractions
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the price of the property is included in
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an mls listing of course and
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what kind of financing the selling agent
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feels will work
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based on the home's current
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physical attributes additionally it will
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have tax estimations and i say
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estimations
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because it's just inputted by the real
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estate agent who's listing the property
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manually so always make sure you double
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check that the information you are
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relying on that you'll be giving to your
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finance people is all correct
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and one more thing you will likely hear
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more about as your investment career
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evolves is an mls number assigned to
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each listing an mls number is a unique
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identifier for each property that is
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listed on the mls
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this number is typically assigned by the
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listing agent when the property is first
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listed
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i think it auto generates actually
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the mls number can be found in the
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listing details of a property it's often
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up near the address at the very top of
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the page
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the mls number is important because it
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can be used to track a property's
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listing history the information can be
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useful when trying to determine how long
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a property has been on the market and
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what the listing price is
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whether or not the property has gone
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under
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any price changes recently and also if
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the home has been listed more than once
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it's sometimes difficult to search and
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find by address as multiple listings
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will pop up under that address
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and therefore this number will be unique
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to a single listing and it'll make your
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life a lot more simple
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so let's talk about some terms first one
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i want to talk about is listing price
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and this is the price that the seller
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has listed their home for
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days on market or dom
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this is how many days the property has
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been on the mls
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sold price this is the price that the
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property actually ended up selling for
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it often means the price minus any
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concessions or repairs that the seller
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may have to do
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listing date this is the date that the
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property was first listed on the mls
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off market this means the property is no
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longer available for sale
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under contract
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means that a buyer has made an offer on
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a property but the deal has not yet
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closed
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contingent
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this means that a property is under
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contract but the deal is reliant on a
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certain condition being met back on
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market this means the property was under
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contract but the deal fell through and
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now the property is available for sale
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again price per square foot the price of
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the home divided by the square footage
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of the home this is a helpful metric
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when comparing homes of different sizes
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new listing
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this is the designation that's given to
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properties that have been on the mls for
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fewer than 10 days active listing a
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property is considered active if it is
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available for showings and offers
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depending a listing is considered
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pending when the sal is in escrow which
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means that all conditions of the sal
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have been met and the deal is waiting to
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close
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price change
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this means that the sellers have lowered
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or raised the asking price of the
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property expired listing a listing is
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considered expired when it has been on
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the mls for more than 180 days without
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selling
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it then needs to be relisted by the real
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estate agent in charge
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and finally let's talk about comparative
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market analysis
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when i mentioned the cma the comparative
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market analysis
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a little while ago as you may have
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guessed they are drafted on the mls
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platform
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a cma is an estimation of a property's
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value based on the recent sal prices of
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similar properties in the same area
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cmas are typically prepared by real
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estate agents when working with buyers
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and sellers and they can be used to help
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price a property for sale or to estimate
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how much a buyer
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should be willing to pay for a
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particular property
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how is a comparative market analysis
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created
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a cma is created by comparing the sale
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price of similar properties in the same
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area the goal is to find properties that
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are as similar as possible to a subject
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property in terms of size location and
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features
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once the comparable properties have been
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selected their sale prices are compared
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to the listing price or
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sales price of the subject property
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this information is then used to
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estimate the value of the subject
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property it's also important to remember
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that a cma is not an appraisal an
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appraisal is a professional estimate of
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a property's value that is conducted by
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a licensed appraiser
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appraisals are typically required by
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lenders when a borrower is applying for
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a mortgage loan
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we at mashvisor of course have other
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ways to attain the information other
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than a cma mashvisor has thousands of
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listings across the united states and
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each comes with its own analysis so you
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can understand the nitty-gritty of a
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property before you put in an offer
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in a single listing it offers estimated
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rental income if the property was staged
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as a traditional rental or an airbnb it
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offers expenses cash flow uh cash and
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cash return cap rate area occupancy and
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it even lets you compare properties side
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by side nearly eliminating the need for
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a cma altogether
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so let's wrap up while having access to
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the mls can be beneficial it's not
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necessary to do business as a real
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estate investor again there are a number
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of services that can provide data on
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comparable sales prices and properties
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which can be used to create a
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comparative market analysis if you need
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it
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specifically mash visor and you can get
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a free seven day trial by using the link
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in the description of this video
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i hope you found this very helpful
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have a great day happy investing and i
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will see you next time
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[Music]
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you
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