Most people have heard of the Multiple Listing Service, or MLS, but in our experience many buyers and sellers do not really understand how it operates.  

It’s primary purpose is for buyers and sellers to be able to see all properties listed for sale, in one place,  Sellers get their property seen by anyone looking at the MLS, not just by clients of the brokerage who is listing their place for sale.  Buyers don’t have to look at several different brokerages’ listings, they can see them all together in one place, on the MLS.

As a secondary purpose, the MLS enables Realtors to sell each other’s listings.  So unlike say car sales, where one dealer cannot sell a car from another dealer’s lot, a realtor can look at all MLS listings in their area, and make offers to purchase on behalf of their clients.  As a buyer, you do not need to call the listing agent.

As a seller, you will have negotiated commission with your listing agent. If another brokerage ends up bringing their client who buys your property, the commission is shared between the two brokerages: you do not pay any more.