No matter your subscription, Housefolios gathers data and analyzes properties from the MLS as well as off-market properties. Our "Property Search" feature is also available on every plan and it allows you to see active listings in a city.
MLS Integration vs Property Search
Connecting an MLS allows you to have a live feed of active listings to analyze. The "Property Search" feature is slightly delayed as some data may be one to four days old. An MLS connection also enables our software to get more comps, which will help you with a more accurate ARV.
On rare occasions, there will be certain areas of the US that the "Property Search" feature is unable to find data for. If you don't have an MLS connection, your only other alternative to analyze properties in bulk is by uploading a spreadsheet (CSV file) of properties into the software. Watch how to export MLS listings into a spreadsheet to be analyzed in Housefolios.
You must be on a Pro ($249/mo) or Enterprise plan to integrate an MLS
This is required because Housefolios is charged a setup fee and/or a recurring fee from the MLS whenever an integration is made. Some of these recurring fees are $300+ per month while a setup fee can be up to $1,500.
How do I connect to an MLS?
MLS's will only let you integrate with them if you are a member of that MLS. If you're not a broker/agent, you can ask your broker/agent if they are willing to sign up.
The process for integrating an MLS is as follows:
We (Housefolios) will contact the MLS(s) you would like to connect to.
The MLS will review Housefolios to ensure we meet their requirements and that we are in compliance with their rules and regulations.
Each MLS will send us a contract that both Housefolios; the agent; and/or broker will need to sign.
*IMPORTANT:You must be an active member of the MLS in order for the MLS to grant us access. If you're not an agent/broker, you will need to find an agent/broker willing to sign the contract from the MLS.
We (Housefolios) will cover the recurring fee from the MLS but you will need to agree to be a user on Housefolios for a minimum of six months.
*Why 6 months?:Building a custom MLS integration is an expensive process due to the fees and the 40 to 60+ man-hours it takes to connect, plus on-going maintenance of the connection.
The MLS will send us the instructions to connect the MLS to our software. Every MLS is unique, which means our Dev Team needs to build out a custom integration each time.
*NOTE: Depending on the MLS, this whole process (contacting MLS, MLS verifying compliance, signing contract, building custom integration) may take as few as 5 to 10 business days. Many MLS's require an extensive process that can take 6 to 8+ weeks. We wish it was as easy as flipping a switch but this process is largely dependant on the MLS's compliance.
Manually Import MLS Properties (3 mins)
You can also manually import a list of properties from the MLS for Housefolios to analyze for you. Here are the steps to import from the MLS:
Search for properties on the MLS
Export to a CSV file (spreadsheet)
Import spreadsheet into Housefolios
We actually have a whole article on how to manually import MLS properties!
Property Search Feature - See MLS Listings
On the left menu, there is a section called "Property Search". Using this feature will display available properties in your area. You can select the ones you want to analyze and our system will do the rest for you!