What is the MLS (Multiple Listing Service)?

The MLS is a proprietary electronic database that contains every residential home, vacant land and commercial property listed by Realtors® for sale or lease. Created by the National Association of Realtors® (NAR), the MLS is the largest database of properties for sale in the United States. The MLS combines all Realtor® -listed properties in one database within a large geographic area. Realtors® are members of a local Board and pay an annual fee which allows them to access the MLS. The MLS contains detailed information on the properties it lists, records of all recent closed sales and their sales prices as well as property tax information. With this information, Realtors® are able to generate comparable analyses of properties and custom searches by any criteria.

The MLS also provides a platform for Realtors® to state the listed properties' commission participation to other Realtors®. This is why you do not typically see For-Sale-By-Owner (FSBO) properties listed in the MLS. Additionally, many Realtors® do not approach FSBO listed properties because there is no stated commission agreement. MLS ADDvantage® bridges that gap between Realtors® and FSBO.