There is a company called “MLS on line” but it isn’t the MLS. MLS stands for Multiple Listing Service. Those local listings that might be found on Zillow or any real estate website or Realtor dot com probably got there via a data feed from the Northstar MLS.
I often explain the MLS to my clients. There are a lot of rules about the data because accuracy is very important. A 1.5 story house can not be listed as a two-story house. If the home has two bedrooms we can’t just call it a three-bedroom. Inaccuracies are quickly reported and changes are made to keep it accurate.
Homes can not be put in the MLS unless there is a listing contract between the real estate broker and the property owner.
I found this nifty little info-graphic that explains the MLS . . well at least kind of. I like to think of it as a real estate market place. Those who wish to avoid it can sell their own home without listing it with a real estate company.
When listing with a REALTOR homeowners can give authorization to keep their home off the MLS. It is rarely if ever in the homeowner’s best interests to keep their home off the MLS.
The MLS is also part of the reason home buyers can search for free and real estate agents do not have to pay to have a home for sale show up on multiple websites.
Also see Broker Reciprocity
Oh and MLS also stands for Major League Soccer, and NAR stands for National Association of Realtors or National Association of Rocketry.
