The multiple listing service is a Realtor computerized data base of property listings.  The listing agent inputs the subject property’s criteria in the proper fields, uploads photos and pushes the submit button.  The property is now in the MLS. 

What happens next?  Most experienced Realtors check the “Hot Sheet” at least once each day.  When I log into the MLS, I first check my “Hot Sheet”.  Each agent customizes their Hot Sheet; mine reflects new listings, new  escrows, new solds and new expireds (Glendale, La Canada, La Crescenta, Montrose). The Hot Sheet shows me all of the changes to my criteria since the last time I checked.

Once a new listing is input, other Realtors will pull it up on their “Hot Sheet” (as long as the listing meets their criteria).  This may be the agents’ first exposure to this new listing; hopefully the listing agent wrote an interesting description of the home and has some good photos.  Many Realtors establish an auto email listing alert for their clients; the client establishes their criteria: such as 3 bedroom, 2 bathroom home, in La Canada under $1,000,000. Once their real estate agent enters the criteria the client will be emailed all listings that meet their criteria.  Also included will be price reductions or back on the market (fell out of escrow).  These listings will be emailed to the client within hours of being input in the MLS.  Again, this may be a client’s first impression of the new listing so the listing agent may only have one opportunity to capture this potential home buyer’s attention.
 

Typically within 24 hours of being submitted into the MLS the listing will now be shown on Realtor.com and other websites that have a feed into the MLS. Once the property is in the MLS the “countdown” begins- Days on Market or DOM; Typically buyers want to know how long a home has been on the market, and once in the MLS the home is on the market.