What is the MLS?

You may have heard people in real estate throwing around the term MLS, but what is it exactly?
MLS stands for Multiple Listing Service or Multiple Listing System. Although it may sound as if it is one, nationwide system, it is not. MLS is a collective term used to describe a network of private databases with listing information that real estate brokers share with each other. Brokers who represent sellers list properties so that brokers who represent buyers can search for homes that their clients might want to buy.

Multiple Listing Services are under the control of an association of realtors or a group of associations of realtors. If a broker does not belong to the association that governs the MLS in his/her area, then they cannot participate in this data exchange. Each group has their own criteria and stipulations for membership.

These databases are not open to the public, so a buyer cannot log onto an MLS and search on their own. They are also not open to people who put their own property on the market. Sometimes a real estate broker will allow someone selling their own property to include their listing on a local MLS for a fee.