What is the Multiple Listing Service (MLS)?
Today, through more than 800 local and regional MLS Realtor® associations across the USA, brokers share information on properties they have listed and invite other brokers to cooperate in their sale in exchange for compensation if they produce the buyer. Sellers benefit by increased exposure to their property. Buyers benefit because they can obtain information about all MLS listed properties while working with only one broker.
Our Multiple Listing Service (MLS) is the Metrotex Association of Realtors. We list your property in the electronic MLS system with information about your home, up to 36 pictures, required addendum’s, Sellers Disclosure and links to internet sites and videos. An MLS is a private electronic central clearinghouse for Real Estate Brokers and Agents to cooperate with each other to buy and sell homes.
All the information and pictures about your home are stored in MLS. When your home becomes u0022Activeu0022 in MLS it is listed and available for showing by other Real Estate Agents helping buyers find homes. This is where buyer Agents find information on commissions, features, showing requirements, and terms and price. Some of the data gathered is not available to the general public. The MLS is where the 3% Buyer’s Broker Commission is advertised as an incentive for cooperation from other Agents and Brokers and where historical sales history for past home sales is housed.
From MLS, publicly available information is transmitted to MLS Member and third party public sites such as Zillow, Realtor.com, Broker sites, etc.
Syndication Chart Courtesy of Point2Agent
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