What is the Multiple Listing Service (MLS)?

A Multiple Listing Service (MLS)A clearinghouse through which member real estate brokerage firms regularly and systematically exchange information on listings of real estate properties and share commissions with members who locate purchasers. The MLS for an area is usually operated by the local, private real estate association as a joint venture among its members designed to foster real estate brokerage services…. is an association of real estate brokersA person or firm that acts as an agent between providers and users of products or services, such as a mortgage broker or real estate broker. See also “Mortgage Broker.”… and agents to cooperate with each other to buy and sell homes. By sharing properties for sale in MLSA clearinghouse through which member real estate brokerage firms regularly and systematically exchange information on listings of real estate properties and share commissions with members who locate purchasers. The MLS for an area is usually operated by the local, private real estate association as a joint venture among its members designed to foster real estate brokerage services…., properties sell faster. MLS brokers offerA formal bid from the home buyer to the home seller to purchase a home…. compensation to each other to make it worthwhile. In other words, help me sell mine and I will help you sell yours.

Once in MLS, sellers benefit from increased exposure to their property. Buyers benefit by getting information about all MLS-listed properties. The real estate market is competitive and the business is unique with the push and pull of competition and cooperation. Competitors must compete for clients and cooperate with each other to have successful transactions. MLS associations help that cooperation. With the collaborative incentive of MLS, real estate is a very efficient marketplace.

MLS’s are a dynamic force for competition. With MLS, a small brokerageA person or firm that acts as an agent between providers and users of products or services, such as a mortgage broker or real estate broker. See also “Mortgage Broker.”… can compete with the biggest firm. Buyers and sellers can work with the professional of their choice. With MLS, buyers and sellers have access to the largest pool of properties for sale.

Real estate information on the Internet is available everywhere for anywhere. MLS systems are private databases paid for by real estate professionals providing MLS information free-of-charge to the public. The National Association of Realtors (NAR) reports more than 800 MLS associations exist in the US.

Our local MLS is the Metroplex Association of Realtors. We list your property in the electronic MLS system with information about your home, up to 36 pictures, required addendums, Sellers Disclosure, and links to internet sites and videos. 

Much of the historical data gathered is not available to the public. Historical sales history for past property sales is available to members to aid clients in negotiations. When your home becomes “Active” in MLS it’s available for showing by other agents helping buyers find homes. The MLS is where we advertise the 3% Buyer’s BrokerA person or firm that acts as an agent between providers and users of products or services, such as a mortgage broker or real estate broker. See also “Mortgage Broker.”… CommissionThe fee charged for services performed, usually based on a percentage of the price of the items sold (such as the fee a real estate agent earns on the sale of a house). … as an incentive for other Agents and Brokers. This is where agents find supporting documents, information about commissions, features, showing requirements, and terms and price.

From there, MLS transmits publicly available information to sites such as Zillow, RealtorREALTOR® is a federally registered collective membership mark which identifies a real estate professional who is a member of the NATIONAL ASSOCIATION OF REALTORS® and subscribes to its strict Code of Ethics…..com, Broker sites, etc.