Multiple Listing Service helps potential buyers

The Multiple Listing Service or MLS is a database, through which the different real estate brokers of the sellers and the buyers interact with each other. The inclusion of the buyers and the sellers in the list is through a listing contract. The list consists not only of realtors who are members of the multiple listing service, but also of agents associated with the Canadian Real Estate Association (CREA) and the National Association of Realtors (NAR), United States of America.

The MLS helps potential buyers become aware of different properties that they can choose from, and to help the sellers advertise their properties. MLS also makes searching for the right house easier as information is generally retrieved based on the location, amount, area and other important details regarding the property.

Only those who are licensed real estate brokers, agents of the brokers and members of CREA or NAR can be a part of the MLS. The MLS define their members clearly and restrict membership to licensed realtors. The owner of a property cannot become a member of the MLS. That is, the owner of the property would not be able to list his or her property in the MLS, without having a real estate broker to represent him or her.

These MLS systems are managed not by the government or the state, but by private organizations, who set the rules to be followed by the members. That is, the various MLS systems have their own set of rules, but at the same time, are subject to nationwide rules proposed by CREA or NAR. These systems may be owned by any association starting from a real estate organization to the country itself. So if your looking to buy or sell property you best bet to get a really good deal would be to go through a good real estate agent like Dale Warfel.

MLS are most famous and sought after in Canada and the United States, but are also available in other countries. Any good real estate firm would be registered with them.