What is MLS®
The MLS® System
To attain its high reputation, Vancouver Island Real Estate Board's Directors and committees have had to work together and co-ordinate their expertise. Members of the public usually interact with individual members of the Board – REALTORS® - and not the VIREB itself.
This co-operative MLS® system enables all members of the Board to share information about properties listed for sale. The Board is the nucleus, or operating heart, of the MLS®, which provides a sound, fast and fair merchandising structure to the buying and selling public and a sales tool that is one of the greatest benefits a licensee could possibly have.
Basically, the MLS® is a professional network involving all VIREB's 1,000+ REALTORS®, representing approximately 80+ offices within the Board jurisdiction. The VIREB MLS® maintains information on between 4800-7000 active listings of property for sale on the Island. Listings range from undeveloped lots to business opportunities or special properties.
Networking
Through the use of MLS®, the computer and services of the Real Estate Board in concert with the expertise of the salesperson and the real estate firm, the marketing of property extends beyond the normal geographic boundaries of the community where the property is located. There are approximately 2,300 REALTORS® on Vancouver Island, including Victoria, who know and cooperate with their colleagues in other communities. In addition, there are over 80,000 REALTORS® spread across Canada - of which most have computer facilities similar to this Board, meaning direct access is available.
MLS® Listings
On the average, the Board receives approximately 77 listings per day which are being updated virtually every minute of every working day. The minute a listing is entered into the database, it becomes available to all members. REALTORS® are able to customize a house search specifically for their potential buyers simply by connecting to the VIREB MLS® at any time of the day.
MLS® Listings on the Internet
All listings on the MLS® are also given Internet exposure, through the www.REALTOR.ca site. This site, which is updated each business day with new listings and changes to existing ones, enables the public to search through all MLS® listings across Canada (over 80 Board listings are included) - and makes contacting the Listing Representative easy and convenient - from anywhere in the world! Statistics show that the number of VIREB's property feature sheets viewed on the Internet each month are constantly on the rise.
VIREB's Catalogues
REALTOR® and Supplementary MLS® catalogues are also available to REALTOR® members - updated and published weekly. Where the REALTOR® catalogue is only available to REALTORS®, the Supplementary Catalogue has been designed specifically for REALTORS® to purchase from VIREB for distribution to the public. VIREB iteself does not sell catalogues to the public, they must be obtained through a REALTOR® member. Both catalogues are important marketing vehicles for REALTORS®. These catalogues contain the largest and most comprehensive inventory of homes available for sale on Vancouver Island. A photograph and informative description of each home is included, as well as listing information for condominium townhouses and apartments, mobile homes, land and commercial properties. Everything considered pertinent to the sale of a property is in these catalogues; ie. property features, price, location, wheelchair access, schools etc.
REALTORS®' access to the MLS® means that properties listed for sale receive wide exposure thus increasing the opportunity for quicker sales and fewer problems. Through either direct computer access or via the printed MLS® catalogue, REALTORS® have a superior marketing tool at their fingertips when working to match sellers with buyers. The MLS® sales data also provides valuable statistical analyses of the local housing market.
VIREB's Computer System
The MLS® is made possible through sophisticated computer systems provided by VIREB and other contributing real estate boards across Canada.
VIREB began its conversion to computerization in August 1980, by going "live" on its new computer running the VANDAT software. This first phase entailed the processing of listings, sales, membership control and the Board's general administrative operation. The second phase in September 1980 introduced the full "on-line" inquiry system to the general membership and the third and final phase was the introduction of the complete catalogue system in January 1981.
Over time the system was enhanced including providing, better, more user friendly access for REALTORS® to gather information for their clients.
In 2000 the option of accessing via the Internet rather than a direct dial phone line became available.
In the spring of 2003 a new "front-end" software was made available to members and in November of 2004 the option to access MLS® data via browser based web access was also made available.
At the end of 2006 VIREB began the process of moving all functions off the in-house computer and moving them to the back-end system of the current MLS® system provider. This will allow for even more effective and efficient tools to be made available to member REALTORS® and through them, to their clients.
