MLS - Multiple Listing Service
An MLS also known as a Multiple Listing System is designed to enhance cooperation between real-estate agents to make the purchase and sale of real-estate property easier. The MLS is a real-estate listing service that combines the listings for many different agents into one central database. These listings would then be available online on many different websites, such as Spanish-Property-Finder.
As the Internet becomes one of the primary communication methods both to advertise properties and to research, the advantages of real-estate agents combining their listings are manyfold:
1. Each property has a better chance of being sold, as many agents can offer the property for sale - more...
2. Each agent has a much bigger portfolio of properties to offer to their prospective clients - more...
3. Property buyers need only deal with one agent and one website to look at many different properties.
Each agent has the option of whether to include their property listings on the MLS or not. If they allow their properties to go on the MLS, then other agents can promote these properties to their clients, and would split the commission resultant from any sales with the original listing agent.
If agents choose not to list their own properties on the MLS, then they will not be able to use the MLS listings of other agents.