Real Estate Terms:What is a "Multiple Listing Service (MLS)"?

Multiple Listing Service is:

A facility for the orderly correlation and dissemination of listing information among

Participants so that they may better serve their clients and customers and the public;

A means by which authorized Participants make blanket unilateral offers of compensation to other

Participants (acting as sub-agents, buyer agents, or in other agency or non-agency capacities defined

by law);

A means by which information is accumulated and disseminated to enable authorized Participants to

prepare appraisals and other valuations of immovable property;

A means by which Participants engaging in immovable property (real estate) appraisal contribute to

common databases.

In other words: a multiple listing service is a computerized listing of the homes and land for sale in an

area listed with a realtor (immover). Agents are granted access to the MLS and can use it to find a house

in a particular price range or area.

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