Getting Access to MLS by a Lender – Good or Bad?

So I know a guy…..John, that can get you prequalified. He can also get you access to every home you’re looking for in the Laveen and South Phoenix area. You can see all the available homes currently listed on the mls (multiple listing service) including bank owned properties, short sales, distress sale and other great deals. Oh, yeah, this guy John with Chase is great!!!!!!!! That is the new radio commercial being aired by Chase. Problem is, it is not that great and I’m going to tell you why.
I’m a real estate agent that works the South Phoenix and Laveen area, and there are some things I can say to tell you this is not that great. Most of these people that can set you up on a system to show you what homes are available do so through what is known as IDX (inter data exchange). Problem is that with some of these systems you’re not really getting the most up to date information. Currently this can be a problem because homes are selling fast, and by the time you get the information the home is already sold. Chances are John will also not be able to get you important information in regards to the home. More importantly his won’t even be able to check to see if home is still available, or if offers have already been submitted to seller for review. Would you want to waste your day going to look at homes that the home owners have already considered offers and have accepted one? Most important, how is John the lender going to show you homes? He is a lender, not a realtor. He will not be able to show you homes, write an offer, and show you comparables homes to help you decide a good offer, or submit your offer for consideration.

Just like I would not venture to tell you about interest rates I can get you, because I can’t. I am not a lender; I am a realtor working the South Phoenix and Laveen area. What I can do is make sure you do find a home, or that you sell your home for top dollar. There are many pieces to the real estate puzzle, and each piece has its job to do.