Multiple Listing Service
What is MLS?
Multiple Listing Service is a service provided for International REALTOR® Members.
- a facility for the orderly correlation and dissemination of listing information so participants 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 or
- a means of enhancing cooperation among participants
- a means by which information is accumulated and disseminated to enable authorized participants to prepare appraisals, analysis, and other valuations of real property for bona fide clients and customers
- a means by which participants engaging in real estate appraisal contribute to common databases
The most basic element of an MLS is that it is a compilation of the currently listed properties for sale or lease in an area. This information can be compiled in hard copy publication or more often today in a computerize and often web-based system.
MLS is more than just a list of properties for sale. There are numerous publications or websites where you can go to find properties for sale, and those aren’t MLS. They’re missing a key element to what makes an MLS unique and that is a unilateral offer of compensation from the listing broker to cooperating brokers who find the buyer. In an MLS, listing brokers agree to pay cooperating brokers a percentage of the sales price or a flat Peso amount if they find the buyer for a property they have listed.
MLS – simply put – is the exchange of property information for sale or lease and offers of compensation that lead to cooperative sales and lease transactions.
MISSION
To empower, support and educate our International REALTOR Members to achieve their goals by providing cutting edge resources that improve and enhance their Real Estate Business to the next level.
VISION
By embracing the acceleration of Information technology change, we lift the professional standards that fosters an environment that guarantees integrity and enlightenment and keeps our International REALTOR Members in the forefront of real estate as the premier source of accurate real estate data.
