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Real Estate & Mortgage Forum > Real Estate Questions & Answers > Ask anything real estate (Moderator: Ann) > 

What is the meaning of MLS?

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compak11
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« on: May 15, 2009, 01:29:28 AM »
Can you define this acronym of MLS? Is it participating real estate agent or something like a broker? Tell me about this concept please. thank you.
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« Reply #1 on: May 16, 2009, 01:28:29 PM »
multiple listing service
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Ann
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« Reply #2 on: May 17, 2009, 01:16:02 PM »
A service to search for homes. Years ago it came in a big book ( as big as phone book) that was update either once a month or twice. But now it is all online.
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« Reply #3 on: June 06, 2009, 11:57:55 PM »
That answer proved you are a real veteran Ann
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Solanki
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« Reply #4 on: July 13, 2009, 09:13:12 AM »
Generally it means Multiple Listing Service. It is a data base generally controlled by cooperating brokers who generally are Realtors. Only Realtors enjoy access to the MLS, real estate agents are not permitted access unless they agree to the local Realtor Board's rules and join. There is some contention on this issue related to potential anti-trust issues. This and other ethical considerations are why I refuse to be a Realtor.
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« Reply #5 on: August 19, 2009, 11:21:10 AM »
it definitely makes thinks with real estate alot easier. This is all i use.
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« Reply #6 on: December 09, 2009, 06:48:32 AM »
Generally it means Multiple Listing Service. It is a data base generally controlled by cooperating brokers who generally are Realtors. Only Realtors enjoy access to the MLS, real estate agents are not permitted access unless they agree to the local Realtor Board's rules and join. There is some contention on this issue related to potential anti-trust issues. This and other ethical considerations are why I refuse to be a Realtor.

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« Reply #7 on: January 05, 2010, 06:01:19 AM »
MLS can be easily understand as sharing of comprehensive home information among real estate professionals.

MLS is an online software that contains all the specifics about a home, from the address, age, square footage, number of bedrooms, baths, upgrades and schools districts to types of financing the seller will consider.
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« Reply #8 on: January 23, 2010, 10:05:47 AM »
The primary purpose of the MLS is to provide a facility to publish a "unilateral offer of compensation" by a listing broker, to other broker participants in that MLS. In other words, the commission rate that is offered by the listing broker is published within the MLS to other cooperating brokers. This offer of compensation is considered a contractual obligation, however it can be negotiated between the listing broker and the broker representing the buyer.
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