What Does MLS Stand for in Real Estate?
In real estate, there are several technical terms that may seem confusing or even alien to the non-Realtor. MLS is such a term. MLS stands for Multiple Listing Service, an essential tool in finding real estate for purchase or even rental.
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MLS
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The Multiple Listing Service is the industry standard service that advertises the availability of all real estate for sale through a licensed real estate broker.
Access
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The MLS service can be accessed online by consumers and Realtors by going to its website. Listing on the MLS can also be acquired directly from a licensed Realtor.
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Identification
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All properties listed for sale on the MLS have an identification number specific to the MLS service. This ID number remai' with the property as long as it's listed with that Realtor.
Exclusions
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Properties that are for sale through other means such as private, "for sale by owner" or tax and government auctions won't be found on the MLS unless they are being marketed by a licensed Realtor.
Property Information
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Key information about the property is provided on the MLS, such as the address, property characteristics, price, sales term, tax information and, in most cases, pictures.
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