MLS Listings
A Multiple Listing Service is best defined as
an agreement under which a market’s competing
real estate brokerages cooperate with one another
to help people buy and sell property. In most
states, participation in the service requires
local-board membership in the National Association
of Realtors.
The term MLS listings refers to the compilation
of all properties that are under contract to be
sold by local members. There are likely other
homes for sale in the market, but they are being
sold by individuals not bound by the ethical codes,
brokerage-compensation guidelines and other business
practices established by the listing service.
The underpinnings of the MLS listings concept
date back more than 100 years to when brokers
verbally exchanged information about homes for
sale in regularly scheduled meetings. Later, MLS
listings were recorded and shared in various printed
formats - ultimately evolving into biweekly publication
of MLS listings books. These books became a mainstay
in the home search process for more than 40 years.
The development of the MLS listings concept significantly
advanced the professionalism and efficiency of
real estate sales; and the concept continues to
serve that purpose today.
As business computer use increased, brokerages
were able to provide more timely inventory updates
to better assist customers and clients. And in
today’s Internet era, brokers are able to make
non-confidential MLS listings data available almost
instantly via Web sites and e-mail.
It’s important to understand that the public is
not accessing a complete Multiple Listing Service
database, which may contain confidential information
about properties, such as the owners' schedule,
security issues or other showing-related details.
MLS listings seen by consumers include only particulars
that will help buyers in their home search.
Real Estate Diversity Group International has undertaken
a massive effort to create a single access point
to MLS listings from across North America. The
result is one of the most powerful online home
search tools in the industry: this Web site, remax.com
- where you can search for millions of homes for
sale.
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