You’ve heard of this acronym before and now that you’re in the process of selling your home, expect to hear more of it. But what exactly is MLS and why should you know more about it?

MLS is actually the acronym for Multiple Listings Service or Multiple Listing System, which is a large database of real estate properties up on sale. Information on properties listed on MLS can be viewed by real estate agents or brokers within a specific city, region or state. MLS makes life easier for buyers and sellers alike. Agents of clients looking for homes can easily pull information of properties which fit the requirements of the buyer from the database; and agents of home sellers are assured that the property that is on MLS is reaching a wider range of potential buyers.

MLS sites are generally managed by private entities; usually a real estate company, or a real estate trade association. Being a privately run enterprise, it is normal that they are governed by different sets of rules covering membership, information access and dissemination.

As such, access to MLS is often limited to its authorized members, and membership is usually given to real estate agents who are licensed buy the state or are members of national trade associations. Individual home sellers cannot put information about their properties on MLS databases. Alternately, buyers who would not want to purchase homes without the aid of real estate brokers also do not have access to properties on MLS.

However, all is not lost for the individual home seller (or individual home buyer for that matter). There are some MLS websites that are not owned nor managed by an agent or a trade association. These sites allow individuals who are not represented by any agent to list or view properties that are on sale at no extra cost.

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