Multiple Listing Services (MLSs) are databases of homes for sale that contain information about the properties listed. These databases are updated daily, and often change to keep pace with new developments. The MLS has grown from humble beginnings to a global force that serves more than half of the U.S. real estate market. MLSs are not restricted to any one city or state, however, and are available worldwide. Depending on the country and region, a single MLS may cover many cities or metropolitan areas, or a small, exclusive neighborhood. MLSs are not limited to just real estate agents; they can also include homes that are linked to certain geographical features, such as lakes or rivers.
MLS systems allow subscribers to search all available properties. They contain hundreds of fields of property information that are determined by real estate professionals. These databases may contain information that would otherwise not be included in the public records of a given property. For example, some MLSs may not include sold sales data or information related to price reductions. Even if all listings have sold sales data, some of this information might be missing. The MLS is used to identify homes with certain characteristics and then prioritize them.
Multiple Listing Services are online databases that allow real estate brokers to share information about properties for sale. This service is vital in a transparent and competitive real estate market. Many real estate brokers participate in the MLS, making the information easily accessible for homebuyers and sellers. Many consumers are unaware of these services, and that’s a shame. The MLS allows people to search for properties on a daily basis. They make it possible for buyers and sellers to find each other.