Local broker marketplaces like the NJMLS create more options for buyers and sellers
- Posted Dec 12, 2022
So many Americans are unabashedly obsessed with scrolling through online home listings. After all, what could be more fun than “fantasy scrolling” and picking out your dream house or apartment, regardless of cost or location.
What most people don’t know is that your fantasy home search—whether purely for fun or because you’re seriously considering buying a home—is made possible by local broker marketplaces like the NJMLS.
Local broker marketplaces are what allow home data to reach consumers. These marketplaces are essentially databases of all the homes for sale in a given market, maintained by local REALTOR® members. They are usually the primary source of information for other home search sites—including the well-known nationally advertised websites.
The result? The most efficient, accurate and trusted information on local properties. This gives consumers more options to choose from when searching homes for sale.
Ultimately, consumers on both sides of the home sale benefit.
When a seller lists a property on one of these local broker marketplaces with a listing broker, they get access to the largest pool of possible buyers that have been brought to the marketplace by buyer brokers. Sellers also save time and money by working with an established group of buyer brokers.
For buyers, they can work with any buyer broker to see ALL homes for sale in one place. The very existence of local broker marketplaces enables equitable access for consumers, including first-time home buyers and low- or middle-income home buyers.
Yes, there’s a little bit of magic happening in local broker marketplaces like the NJMLS—not just for people looking at homes for fun but for people trying to build generational wealth by owning a home. There are more than 550 independent, local broker marketplaces across the country making the exchange of information possible.
So the next time you sit down to look at your fantasy New Jersey home online, you’ll know there is so much more to what you’re seeing. Behind it all are independent local broker marketplaces, powered by inputs from local real estate agents that benefit millions of people trying to realize the American dream of homeownership. For North Jersey real estate listings directly from the source, start at NJMLS.com!