Realtors(R) use a lot of jargon in every day conversations and online – so when you see the acronym “MLS,” you may wonder what it means. In the real estate world, “MLS” does not refer to the soccer league – it stands for Multiple Listing Service.
The Multiple Listing Service is the fancy name for the online system where all the real estate brokers enter their new properties for sale. In industry speak, new properties for sale are called “listings,” thus they called the Multiple Listing Service (or System).
If you’re searching properties for sale on Realtor.com, FranklyMLS.com, ColdwellBanker.com or KellerWilliams.com (or any other national real estate website), those properties are all being taken from a local MLS provider that aggregates the properties into a database.
If you see terms like “Search the MLS” it’s just Realtor(R) speak for “Search Homes for Sale.”
In the Maryland, Washington, D.C., and Virginia area we use a system called MRIS – Metropolitan Regional Information Systems, which aggregates properties for parts of West Virginia and Pennsylvania in addition to MD/DC/VA. If you’ve heard local commercials for HomesDatabase.com – that’s the same crowd of people!
Any other phrases you’ve heard recently you don’t recognize? email them to me!