Though real estate may seem like a competitive business, collaboration among agents, even from different brokerages, is a core part of how the industry works. One of the primary ways that this collaboration happens is through listing houses on an MLS.听
As you enter the real estate market, you鈥檒l likely hear the acronym 鈥淢LS鈥 quite a bit. But what actually is it? 鈥淢LS鈥 stands for 鈥渕ultiple listing service.鈥 An MLS is a database that provides information about properties for sale, connecting listing agents with those representing potential buyers. If you鈥檙e selling your home, your agent will list your house on an MLS, but you may also be able to list by paying a flat fee or using a discount broker.
Multiple listing services are integral to the functioning real estate market. According to the National Association of Realtors, more than half of all homebuyers use an MLS in their home search.听
The origins of the MLS are actually pretty old: In the late 19th century, local real estate agents would gather for regular meetings where they would share information about properties they were trying to sell, the idea being that working with other agents from other brokerages would increase their chances of finding a potential buyer.听
Eventually, instead of these in-person meetings, brokerages began to produce and distribute catalogs listing this information - the original MLSes - and now these listings are primarily online.
The organizational premise of an MLS is reciprocity: Agents can help each other sell their listings. Plus, when an agent provides a buyer for a property that another agent is trying to sell, they get a portion of the commission.
It鈥檚 easy to imagine one big national MLS, connecting agents from coast to coast. However, this is not how it works: There are actually more than 800 MLSes in the U.S., each serving local real estate professionals. This functions better than a national one would because agents tend to work locally - there鈥檚 no reason for an agent representing a buyer in California to know about a potential property for sale in Arkansas, for example.听
Instead, each MLS is organized by local brokers, who run the system independently. Despite this, most of these systems do tend to follow guidelines and best practices laid out by the National Association of Realtors.
The advantages of the MLS system are clear: Sellers get more exposure for their property - thereby increasing the possibility of a sale - and buyers get to see what properties are available in their desired region without having to work with multiple agents.
One of the big differences between an MLS and other real estate listing websites that you may have encountered, such as Zillow or Trulia, is that an MLS is only available to licensed agents and brokers, who pay a fee for access to the service.听
This means that if you want access to an MLS, you鈥檒l need either a real estate license or a real estate agent. (One of these is easier to come by than the other.)
However, many of the listings on websites like Zillow are in fact listings from an MLS - these services have partnerships with publicly available sites that allow them to import their listings. Many MLSes may also have their own publicly viewable databases.听
The information in these public listings isn鈥檛 necessarily verified or up to date, since they aren鈥檛 as closely regulated as the MLS is. However, if you see a listing you like on Zillow or Trulia or a similar site, there is a way to find it on an MLS and get the complete picture: You just need its MLS number.
Every listing in an MLS gets an MLS number. That number is unique to the listing, and in most cases an MLS will not repeat a number - once it鈥檚 been assigned to a listing, it鈥檚 used up, even after that listing is taken down.听
In addition to helping you match a listing in order to find more information about it, an MLS number can also give you an idea of how long a property has been on the market because these numbers are typically assigned in order.
MLS listings are updated regularly and encompass everything details about the house, like square footage, the number of bedrooms and half baths, and HOA rules. It will also tell you things like, whether it's heated by baseboards or forced air, what material that the driveway is made of and private information provided by the listing agent, like preferred showing times and agents' phone numbers.
Most sellers list on an MLS through their real estate agents. The agent will gather pictures of the home and all of the other relevant information.
If you鈥檙e selling a home, you do have the option to list it yourself without an agent. In real estate, this is typically referred to as 鈥渇or sale by owner鈥 (FBSO).听One reason this approach might be appealing is that it allows you to avoid paying an agent commission. However, it can be a pretty complicated process.
In addition to setting your home's asking price (which means researching comps yourself and/or getting an appraisal) and doing the work of managing the listing (fielding calls, scheduling showings, etc.), you鈥檒l also have to do your own marketing.
鈫 Here's what you need to know about selling your house without a realtor
Since MLSes are only accessible to real estate professionals, you won鈥檛 be able to list your home on an MLS yourself, but you do have a few options.
If you're looking for a stress-free and simple way to sell your home, consider working with 91破解版. We'll prepare your home and set a listing price to help you earn top-dollar on the sale. with a free home evaluation.
A listing goes through various stages before it鈥檚 sold or taken off the market, and they are logged on the MLS. Here's a list of each MLS status, their abbreviation, and their meaning.
Grow your business and make $50-$70K more per year.
When you list with 91破解版, we鈥檒l get your home show-ready and make repairs to increase your home鈥檚 value at no upfront cost.
91破解版 guarantees your home will sell, so you can buy your next one worry-free.
On top of 91破解版鈥檚 Home Sale Guarantee, we list, prep, and show your old home after you鈥檙e all moved out.
Use our home sale calculator to estimate your net proceeds.
Our Home Advisors are experienced local agents who know how to sell for top dollar and help win your dream home.
All 91破解版 Home Advisors are experienced agents who know your local market inside and out. Request a consult today.
Did you know cash offers are 4x more likely to be chosen by a seller? Let us help you make one on your next home.
Get the most accurate free home valuation 鈥 in minutes
91破解版 Home Loans shops the market to find your best rates.
A cash offer is 4x more likely to be chosen by a seller. Get qualified today.
Make a cash offer now, and 91破解版 will sell your old home after you move.
Tell us your must-haves to see personalized home recommendations that meet your criteria.
With 91破解版, secure your dream home before you list. Avoid home showings, rentals, and double moves.
Learn More