Two multiple listing services representing about 4,300 real estate agents and brokers will soon launch a tool designed to flag properties eligible for down payment assistance programs.
The two MLSs are Southwest MLS Inc. in central New Mexico, which is a subsidiary of the Greater Albuquerque Association of Realtors and has 2,800 members, and the Multiple Listing Service of Jackson, Miss., which has about 1,500 members.
SWMLS and MLS of Jackson will roll out Down Payment Resource in October, the company said in a release.
Upon launching, all eligible properties, which Down Payment Resource estimates will be more than 70 percent of listings in both markets, will display the company’s logo and allow Realtors to view and share the information with their clients and invite them to take a short survey to match them with assistance programs. The DPR logo will also appear on eligible listings in both MLSs’ consumer-facing home search portals.
In June, Down Payment Resource launched its own public-facing website, offering its database of more than 1,500 programs administered by more than 1,000 agencies to the public at large. It had previously been available only to real estate agents and homebuyers in 14 markets through several multiple listing services.