Is the Colorado MLS Shut Down?
There seems to be some confusion on if the Colorado MLS has been shut down due to Coronavirus. With the Colorado Springs schools closed down, REALTORS are terrified of the shutting down of the MLS.
Why Does it Matter?
The MLS, or multiple listing service is critical for the operation of real estate sales in any area. Well over 90% of the properties that have sold in the last 12 months were listed on the MLS. For licensed real estate agents and brokers, the MLS is there lifeline. Acting as the database of all currently listed homes and property as well as sold real estate and the holding together of real estate commissions between otherwise competing brokers, the MLS is critical. Just about everything about buying and selling real estate includes the Multiple Listing Service.
Is the MLS Up and Running?
Although its making its way around Facebook and other real estate social media groups that the Colorado MLS has been shut off, the facts are slightly different.
The Colorado MLS is up and running (for all paying participants).
Why The Confusion?
The confusion seems to be that the Colorado Attorney General said there were to be no more:
- Property Showings
- Home Inspections
- Virtual Tours Created
All in all… you cannot enter another persons home, even if its listed and has a lockbox for any reason.
This also includes vacant properties.
The Colorado MLS, provided by Core Logic, is up and fully functional.