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What does MLS stand for? I notice it is mentioned everywhere on your web site.

MLS stands for Multiple Listing System. It is a system managed by the Turks & Caicos Real Estate Association. MLS means that every piece of land and property that is for sale through a TCREA agent in the Turks & Caicos Islands is sited on a single database. Each piece of land and each property has an MLS number (which you will see noted after every property description in the magazine and on the web site) and is therefore easily identifiable in the system.

How does the MLS help me buy a property in the Turks & Caicos Islands?

It makes it a lot easier! All properties on the MLS can be viewed by all TCREA agents on all of the Islands. So, instead of spending your time going from agent to agent to find out about properties that you are interested in, you can choose just one realtor. Through them you are able to view not just that broker’s listings, but all listings for all properties with all TCREA brokers in the country. So you can spend more time relaxing on the beach while your agent does all of the footwork to help you find your perfect property!

What happens when I decide to view and then want to buy the property? Do I have to deal with two brokers?

No, not at all. If you want to look at a property that is listed with another agent, your agent will simply arrange a viewing appointment through them. When you decide to purchase, the procedure is just as simple whether you choose a property under your estate agent or under another. Your agent will draw up all the necessary paperwork and you will continue to deal with only your agent throughout the entire buying process.

Does having access to the MLS cost me anything? Do I have to pay commission to either broker?

Access to MLS is free. And if you are a buyer you pay no commission on a sale. It is the vendor who pays commission as set by the Turks & Caicos Real Estate Association – currently at 6% of the sales price on developed properties and 10% on undeveloped land. The commission is no greater if two brokers are involved in the sale, they just “co-broke” and share the commission.

How does the MLS help me sell my property?

As a seller, you can still choose the real estate agent you would like to deal with, but your property gets maximum exposure by being available to all agents to pass to their clients. So hopefully it sells faster!

Can I view the MLS database myself online?

Yes, as well as viewing the listings in this magazine, you can also see all MLS listings on the TCREA website: www.tcrea.com. Just go to the “Search for Listings” tabs and you will be taken to the database. You can refine your search by a number of criteria – just choose from the dropdown boxes – so you can, for example, easily and quickly find all two-bedroom apartments for sale at your budget level throughout the entire Turks & Caicos Islands. Properties are placed on the MLS within three days of an agent receiving a listing and removed within three days of sale completion. The website will state whether a property is pending sale.

If you see a property that you are interested in, you can then contact any real estate agent in the Islands to view and help continue your property search. Interview different agents to see which one you feel most comfortable with; there are currently almost 100 agents and 15 broker companies under the TCREA banner, so you have plenty to choose from. You will need to have absolute trust and confidence in your chosen agent’s ability, especially if you are in the country for only a few days, and they will continue negotiations while you are away.

If you have any further questions about the MLS or any other property matter, please feel free to contact any real estate agent through the contact information listed in this magazine.

Can I view the MLS database myself online?

Yes, as well as viewing the listings in this magazine, you can also see all MLS listings on the TCREA website: www.tcrea.com. Just go to the “Search for Listings” tabs and you will be taken to the database. You can refine your search by a number of criteria – just choose from the dropdown boxes – so you can, for example, easily and quickly find all two-bedroom apartments for sale at your budget level throughout the entire Turks & Caicos Islands. Properties are placed on the MLS within three days of an agent receiving a listing and removed within three days of sale completion. The website will state whether a property is pending sale.

If you see a property that you are interested in, you can then contact any real estate agent in the Islands to view and help continue your property search. Interview different agents to see which one you feel most comfortable with; there are currently almost 100 agents and 15 broker companies under the TCREA banner, so you have plenty to choose from. You will need to have absolute trust and confidence in your chosen agent’s ability, especially if you are in the country for only a few days, and they will continue negotiations while you are away.

If you have any further questions about the MLS or any other property matter, please feel free to contact any real estate agent through the contact information listed in this magazine.

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