Abstract
One of the major problems in Multiple Listing Service Systems is to find what you want. Number of real estate alternatives on the Internet is thousands. How can customers find the rational alternative on the Internet? Once real estate is found, the customer usually wants to compare alternatives. There are five types of aids to comparison shopping: search on hypertext files by agents, search alternatives on databases, alternative search and tabular comparison, comparison of alternative products and services from multiple malls, search and multiple criteria decision‐making. Therefore, the efficiency of Multiple Listing Service Systems may be increased by applying multiple criteria decision support systems developed by authors. The authors have developed Web‐based Decision Support System for Real Estate (DSS‐RE). Proposed DSS‐RE can create value in next important ways: help customers assess their needs, identify suitable real estate to fulfil needs, compare and evaluate real estate, help customers evaluate the usefulness of the real estate in the after‐purchase evaluation stage, etc.
Highlights
The property Multiple Listing Service (MLS) system was introduced at the end of the last century in the US; afterwards it has been extended to the most of the countries in which the free real estate market exists
The MLS enables introducing complex services on the local real estate markets, linking brokers operating on this market
The development of the MLS can improve functioning of real estate markets that raise the standards of the services offered and reduce the costs of conducting the promotional and sales activities [1]
Summary
The property Multiple Listing Service (MLS) system was introduced at the end of the last century in the US; afterwards it has been extended to the most of the countries in which the free real estate market exists. The MLS enables introducing complex services on the local real estate markets, linking brokers operating on this market. The basic advantage of the Multiple Listing Service is the increase of sale possibilities through offering real estate to the clients of other brokers, what allows to reduce the costs of reaching the client interested in specific offer and to shorten the time of closing the transaction.
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