Multiple Listing Service (MLS)
Definition and meaning of Multiple Listing Service (MLS) in real estate.
A multiple listing service, commonly known as an MLS, is a local database where real estate brokers share information about properties for sale to facilitate transactions. This system allows agents representing sellers to display listings to agents representing buyers, promoting widespread cooperation.
In more detail
The MLS is the primary tool used by real estate professionals to access accurate, up-to-date data on home pricing, status, and features. Property listings on public websites are typically syndications of the local MLS data, though the MLS contains detailed broker-only remarks. Utilizing the MLS ensures that a seller's property gets exposure to a broad network of agents and active buyers.
To list a home on the MLS, a seller must typically work with a licensed real estate broker, as access is restricted to dues-paying members.
Key facts
| Category | Buying & Selling |
|---|---|
| Also known as | MLS |
| Applies to | For-sale properties listed by brokers |
| Required by | Licensed real estate professionals for maximum exposure |
A listing agent uploads a new home listing to the regional multiple listing service, making the property details instantly visible to all local buyers' agents.
Frequently asked questions
Can a private home seller post directly to the MLS?
Typically no, the MLS is reserved for licensed brokers. However, FSBO sellers can pay a flat-fee broker to list their property on the MLS without full-service representation.
Is there one single MLS for the entire United States?
No, there are hundreds of independent regional MLS databases across the country, each managed by local associations of realtors.
Related terms
Sources & references
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