For years, much to the detriment of real estate buyers, sellers, agents and brokers alike, real estate listings have been restricted by Multiple Listings Services(MLS) that subscribed to an IDX(Internet Data eXchange) to provide access to listings in a particular area for a fee. Now, with Google's open Base Housing API(Application programming interface), which is still in beta, but already has close to 7 million real estate listings, we think the typical MLS will become a thing of the past. They cannot compete with Google's data capacity, technical prowess or ability to provide exceptional traffic to a particular real estate listing. It's free to list properties, free to view properties and is gaining momentum from Internet savvy brokerages and agents. This is great for just about everyone involved. Having real estate listed on Google Base provides tremendous exposure for homes that are for sale or rent. Google Base enables everyone to access these listings for free, as well. This provides a transparency that very well could bring real estate prices into a better perspective. With everyone having the same access to real estate listings, true home values can be more accurately assessed and it opens up a great opportunity for home buyers to research properties for sale.
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