What is Multiple Listing Service (MLS)?
Understanding MLS
Multiple Listing Service (MLS) (also Multiple Listing System)
is a Real Estate listing service or database that contains
listings and specifications for all Properties available for sale in an area.
All the listing are stored in a directory or database that can be accessed via
various MLS Websites.
The MLS is governed by the National Association of Realtors®.
They set up all the rules and regulations and apply a strict data criterion which is the
main reason for their success in delivering comprehensive property information and becoming
a primary research tool for Brokers and Realtors® nationwide.
Access to MLS
Generally, MLS access is restricted to licensed Real Estate Agents.
When you sign an exclusive contract with a Realtor®, your Agent submits your listing to the local MLS database.
In the recent years, various Real Estate Websites like www.realtor.com
and www.houselocator.com allowed general public to access limited portion of the overall MLS.
Regional MLS
In the United States, there is no one central MLS.
MLS's are regional and can cover several states, or just a single
county. More than one MLS may exist in a particular area and can operate as an independent organization.
In addition these local MLS services can mandate their own rules and criterion.
Flat fee MLS
You can list with the local MLS without signing an exclusive contract with a Realtor® or having to pay a commission.
There are various brokers and agents that offer a flat fee MLS listing service in case you would like to list your property as
For Sale By Owner (FSBO) and avoid
paying a typical 6% or more commission to a Realtor®.