A multiple listing service, or MLS, is an online catalog of properties listed for sale. It usually has the most thorough, up-to-date information on local homes.
The database is maintained and used by licensed real estate professionals, from realtors to appraisers. Listing agents list their clients' homes on the MLS to maximize their exposure to potential buyers. Buyer's agents search MLS listings to find homes that meet their clients' criteria.
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What is the multiple listing service (MLS)?
The multiple listing service (MLS) is a private database of property listings established and run by real estate professionals. It serves as a centralized hub where realtors can list properties for sale and search for available homes in the area serviced by the MLS.
The main purpose of the MLS is to connect brokers and streamline their cooperation. This concept has existed since the 1880s when real estate professionals would meet to exchange information on their various listings. Nowadays, there are more than 500 digital MLSs throughout the US, and each database has its own coverage area (many of which overlap).
MLS access is limited to licensed realtors, so you need to work with an agent to reap its full benefits.
How does the MLS work in real estate?
When a homeowner is ready to sell a house, adding a listing to the MLS is one of their agent’s first steps. In most cases, only licensed real estate professionals have access to the MLS, so they're the ones who add and update information on your property.
An MLS listing usually contains comprehensive property details, including the listing price, photos, square footage, number of rooms, and other beneficial information for potential buyers. This information is available to other realtors, who can use it to search for properties that match their buyers' criteria.
Another important function of the MLS is listing syndication to other third-party real estate websites. Through syndication, listings once visible only to realtors can be displayed more publicly on consumer-facing websites, such as Zillow and Realtor.com.
The MLS contains the most recent information about a given property. If anything changes, such as its listing price or status, realtors can edit the MLS listings, and this information would automatically be updated across any syndicated websites.
What are the benefits of the MLS?
For sellers
Most sellers benefit from listing their property on an MLS. This action could often lead to faster sales and potentially higher selling prices, thanks to the greater likelihood of receiving multiple offers from interested buyers.
Here is how the MLS can deliver value to you as a home seller:
- Increased exposure. The MLS will put your listing in front of thousands of real estate agents who are actively working with buyers. Instead of relying on your agent’s network, you can tap into the larger collective pool of hundreds of realtors, significantly increasing your property’s chances of being seen.
- Truly interested buyers. The MLS can act as a first stop to sift out casual browsers. Buyers with access to the MLS will most likely already be working with a real estate agent, which means they are actively looking rather than merely window shopping. What’s more, buyers’ agents usually pre-screen properties for their clients, so if you get a request to schedule a viewing, it will more likely come from a genuinely interested, qualified buyer.
- Streamlined listing updates. The information posted on the MLS is the most current and accurate about your property. If any changes occur (such as price adjustments), your agent will update the MLS listing, and the changes will automatically be distributed to any connected websites. This helps streamline the process, avoid confusion, and eliminate the need to make multiple updates on various platforms manually.
For buyers
Buyers can also hugely benefit from using the MLS in their property search. It can provide the most recent, most reliable information and help buyer's agents quickly search for and compare properties.
This is why using the MLS can be an excellent tool when buying a house:
- Large selection of homes. The MLS allows you to access thousands of listings while working with only a single agent. You can search homes based on your particular criteria and get notifications when a new property that matches your criteria gets posted. All of this streamlines the home search process and saves you time and effort.
- Detailed property info. You can receive detailed and accurate information, some of which may not be available on public websites. This can help you make more informed decisions about which properties to view in person.
- Historical data. Access to historical data can prove invaluable during the negotiation process. For example, information on how long the property has been on the market and how its price has changed over this period can help you put together a stronger offer.
How can I access my local MLS?
Through a realtor
Working with a licensed realtor is the simplest and most common way to access your local MLS. Every agent has to pay membership fees to access the database, but your realtor should already include this in their commission.
For sellers, your listing agent will create your property listing on the MLS and enter all necessary information to attract potential buyers. They will also update the listing and coordinate showings with interested buyers who discovered it via the MLS or any public websites where your listing is syndicated.
As a buyer, you will usually not have direct access to the MLS, but your realtor will use it to search for properties that match your criteria.
Through a flat fee MLS service
If you want to list your property on the MLS but want to avoid working with a realtor, you can use a flat fee MLS service instead.
A flat fee MLS service lists homes on the MLS for a flat rate. Typically, these companies charge a couple hundred dollars for a basic listing. For a higher price, you can get a wider range of services, which could include:
- Professional photography or video tour
- Comparative market analysis
- Marketing support
- Yard signs
- Contracts and disclosures
The exact services and prices will depend on the local flat fee MLS company you decide to use and what packages it offers.
Note: MLS access is not the only reason to work with a realtor. A real estate agent helps you with many tasks, including prepping the home for listing, marketing, negotiating with buyers, and completing paperwork.
If you work solely with a flat fee MLS service, you'll have to manage most of these tasks by yourself. This workload makes selling without a realtor one of the most difficult ways to sell a house.
MLS alternatives if you're selling without a realtor
Listing on an MLS offers the broadest exposure for your home. However, if you’re selling without a real estate agent, you can use some alternative marketing channels to showcase your property:
- For-sale-by-owner (FSBO) websites: FSBO sites, like Zillow, allow homeowners to list and market their properties without a realtor. Some of these platforms offer MLS listing access and syndication to major real estate websites. However, this service usually comes with premium plans.
- Social media marketing: You can use the power of social media and spread the word about your listing on platforms like Facebook, Instagram, or NextDoor.
- Classified ads: With ads in local newspapers or on Craigslist, you can reach people in your area and give your home some extra visibility.
- For-sale signs: This can help you sell a house by attracting more attention from potential buyers driving through the neighborhood.
These marketing tactics don’t provide nearly the same reach as the MLS. It usually makes the most sense to skip an MLS listing only if you already have a buyer lined up.
FAQ
What does MLS stand for in real estate?
MLS stands for multiple listing service. It’s a property database maintained by real estate professionals to help their clients buy and sell properties.
Are all houses for sale on the MLS?
No, not all houses for sale are on the MLS. A property may not appear on the MLS if it's off-market (private listing), new construction, or sold directly by the owner (FSBO).
Is Zillow an MLS?
No, Zillow is not an MLS. Zillow is a real estate marketplace that pulls data from various MLSs thanks to syndication agreements. However, property information on Zillow may be outdated or incorrect.
Is an MLS listing worth it?
Yes, an MLS listing is worth it for most sellers. Listing your property on the MLS can increase its exposure, which could lead to a faster sale and multiple competing offers.
Why would a home not be in the MLS?
A home might not be on the MLS for several reasons. For example, if the owner is selling a property without an agent’s help and decides not to list it on the MLS, or if it’s a newly constructed building.
