Simply put, the Real Estate Multiple Listing Service (MLS) is the largest database of currently available properties for sale in the country. Essentially, the MLS is a group of brokers joined together in a cooperative marketing organization for the purpose of pooling their respective property listings and to assist one another in selling these properties. In exchange for a potentially larger audience of home buyers and a far greater likelihood of sale, the brokers agree to share commissions. There are a number of MLS's across the country covering various sized geographic areas from small local metropolitan area MLSs to large, regional, multi-state MLSs. The MLS service system was first created and controlled by real estate professionals through their membership in local Associations of REALTOR®s as a way of marketing their listed properties. Today the MLS is a ubiquitous computerized system containing almost all of the properties for sale. By gathering local housing data into a single repository Realtor members of the MLS exchange information about properties for sale with each other and offer compensation to other real estate practitioners for selling their listed properties.

The MLS is an exclusive club. Only MLS members may list their properties in the MLS. There are several hundred MLS home listing services around the country. All of these MLS listing services are owned and/or predominantly controlled by REALTOR®s and in order to get property in MLS listing, one must be a REALTOR® member of MLS. REALTOR®s use the MLS real estate listing to cooperate among real estate brokerage firms to sell each other's listings.

Above all the MLS is a cooperative system. REALTOR® members agree to abide by the rules of the MLS and a blanket offer of compensation is generally made to all participants of the MLS. As part of this agreement with each other, REALTOR members agree to split the commission paid by the Seller between the listing firm and the selling firm or "buyer broker". For example, if Listing Broker lists a property for a 6% commission, through the MLS, he agrees to pay all of the MLS member brokers one half of the listing commission (3%) for procuring a "ready, willing and able" buyer for that listing. The Listing Broker keeps 3% and the Selling or Buyer Broker receives the other 3%.

In most areas, the MLS has become the "de facto" market for homes. Although statistics vary from region to region, the MLS is responsible for approximately 75% to 85% of home sales in any given market. Compared with other forms of advertising, an listing in the MLS is, by far, the most important means of advertising a home for sale . As the below chart illustrates, the agent members of the MLS are the predominant means through which home buyers find their home. Most buyers are made aware of properties for sale by their agent using the MLS system. However, even when buyers initially find a home through a yard sign or other means, they generally go through a Buyer Broker who is a member of the MLS system to purchase the home.

If you do nothing else, a properly priced home with MLS listing can virtually assure a sale in any type of market. Compared with running newspaper ads or holding Open Houses, the MLS is a far more effective way of letting the buying public know your home is on the market.

Originally, the MLS home listing data was complied into large books with each REALTOR® receiving a new book every two weeks or so depending on the number of listings in a given market area. With the advent of the Internet, most MLSs have discontinued the publication of these large books and REALTOR®s access the MLS database through the Internet.

One additional advantage of an MLS listing is that now most MLSs publish a limited form of their database to the Internet through websites such as REALTOR.com. Now the exposure for a property with MLS listing has jumped exponentially to include everyone with access to a computer. In fact, now that MLS listing data is available online, studies have shown that over 60% of home buyers now use the Internet when shopping for a home.

In the past, the only way to list your home in the MLS was to pay a large commission to a real estate agent. Today, home sellers can purchase a listing in the MLS online through "limited service" real estate brokers for a low, one-time flat fee. For more information on Bloomkey placing your home in the MLS, Click Here. Flat fee MLS listing has created a level playing field for the For Sale By Owner consumer.

Now, for the first time, home owners selling on their own, though Bloomkey, can receive the same exposure for their properties once reserved exclusively for members of the MLS. It is possible, for a relatively low fee to obtain the marketing exposure necessary to obtain the highest price for a home in least amount of time without having to pay a listing commission to a real estate broker.

Greater exposure means higher selling price and faster selling times. Homes with MLS listing sell faster and for a higher price than homes marketed any other way.

Order a Realtor® MLS Listing now for a low flat fee starting at just $225.00.

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