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What is the Multiple Listing Service (MLS)?

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A Multiple Listing Service (MLS) is an association of real estate brokers and agents to cooperate with each other to buy and sell homes. By sharing properties for sale in MLS, properties sell faster. MLS brokers offer 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 brokerage 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 Broker Commission 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, Realtor.com, Broker sites, etc.

Courtesy of Point2Agent

Notice: This website contains general information about legal and financial matters. The information is not advice, and should not be treated as such. You must not rely on the information on this website as an alternative to legal or financial advice from your attorney, accountant or other professional services provider. If you have any specific questions about any legal and financial matter you should consult your attorney, accountant or other professional services provider.