What is Multiple Listing Service (MLS)?
A Multiple Listing Service (MLS) is a database used by real estate agents and brokers to share information about properties available for sale or rent. It is a centralized platform that enables real estate professionals to cooperate with each other, facilitating the buying, selling, and leasing of real estate properties. MLS acts as a database where employees can enter information about the sale or rental of a listed property. Many MLSs are open only to fully licensed real estate professionals who work with a real estate broker or are members of a professional association.
Geeky Takeaways:
- MLS databases contain detailed information about properties, including their location, features, specifications, pricing, and status (i.e., active, pending, sold).
- MLS platforms promote collaboration among real estate agents and brokers by allowing them to share property listings and cooperate on transactions.
- MLS platforms help ensure compliance with real estate regulations and ethical standards by providing a centralized platform for property listings and transactions.
Table of Content
- How Multiple Listing Service Work?
- Need of Multiple Listing Service
- Benefits of Multiple Listing Services
- Drawbacks of Multiple Listing Services
- Multiple Listing Service – FAQs