Why India Needs a More Structured MLS System in Real Estate

Why India Needs a More Structured MLS System in Real Estate

When it comes to real estate, the experience of buying or selling a property in India can be vastly different from what you might find in developed countries like the United States. One of the key reasons for this contrast is the presence of a Multiple Listing System (MLS) in the US—a centralised and transparent database of property listings that benefits buyers, sellers, and agents alike. In contrast, India’s fragmented approach often leads to confusion, misinformation, and missed opportunities.

Let’s dive into what MLS is and why India’s real estate ecosystem could greatly benefit from a similar system.

📌 What Is the MLS?

The Multiple Listing System (MLS) in the US is a centralized platform where licensed real estate agents list properties for sale. Key features include:

  • Verified Listings: All properties are checked for legitimacy and accuracy before going live.
  • Real-Time Updates: When a property is sold or goes off-market, it’s immediately updated across the network.
  • Co-broking System: Agents collaborate rather than compete, sharing commissions when a deal is closed.
  • Accessible Information: Buyers can view listings with photos, floor plans, pricing, and neighborhood data all in one place.

🏚️ The Indian Scenario

In India, the real estate market is still largely unorganized and dominated by informal networks. Here’s how the lack of an MLS system affects the ecosystem:

  • Duplicate Listings: One property is often listed by multiple brokers with different prices and details.
  • Limited Transparency: Buyers find it hard to verify ownership, pricing, or even availability.
  • Poor Collaboration: Real estate agents rarely work together, which limits the reach of a property.
  • Outdated Listings: Many platforms have properties that are already sold or not actually for sale.

🤦‍♂️ How This Hurts Buyers & Sellers

  • Buyers waste time visiting the same property through different brokers, often at different price points.
  • Sellers lose out on genuine buyers because their property isn’t being marketed in a structured, professional manner.
  • Brokers end up chasing the same leads, reducing trust and causing inefficiencies.

🛠️ How Can We Fix It?

While India might not yet have a national MLS platform, there are ways to move toward a more organized system:

  1. Broker Networks & Databases: Agencies can create internal listing systems to maintain up-to-date and verified property databases.
  2. Exclusive Listings: Owners should authorize a single point of contact for property sales to avoid confusion and pricing discrepancies.
  3. Digital Collaboration Tools: Brokers can use platforms like WhatsApp groups, CRM tools, or shared drives for real-time property updates.
  4. Transparent Communication: Keeping both parties informed builds trust and speeds up decision-making.
  5. Proptech Startups: Support and adopt platforms that are building MLS-like databases in India.

🏁 Final Thoughts

A structured, transparent MLS system has the potential to revolutionize the Indian real estate market. While we may still be far from a nationwide solution, steps can be taken at the individual and agency level to replicate its benefits. For buyers and sellers alike, working with professionals who use organized, transparent systems can make all the difference in finding the right deal—quickly and securely.