What is the “MLS”?
A multiple listing service (MLS) is a collection of services that enables real estate brokers to establish contractual offers of compensation (among brokers), facilitates cooperation with other broker participants, accumulates/disseminates information to enable appraisals, and is a facility for the orderly correlation and dissemination of listing information to better serve broker's clients, customers and the public.
The listing data stored in a multiple listing service's database is the proprietary information of the broker who has obtained a listing agreement with a property's seller. A MLS’s database and software is used by real estate brokers in real estate, representing sellers under a listing contract to share information about properties with other brokers who may represent potential buyers or wish to cooperate with a seller's broker in finding a buyer for the property or asset.
Written by: Robert Judy