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What Is the Multiple Listing Service (MLS®)?
The Multiple Listing Service (MLS®) is a system made by a series of databases that forms a listing site for all properties for sale on the open market.
It allows real estate agents access to a large system where they can market properties for sale, while allowing buyers access to information on new and existing properties.
Each region in BC has its own MLS® that, as a whole, creates the larger MLS® database across Canada.
According to the Greater Vancouver REALTORS® (GVR), Housing market information originating from the MLS® has long been recognized as the most reliable and comprehensive data available for those looking to buy or sell a home.
The strength of this more than 65-year-old system rests in the quality and accuracy of the information. Government, economists, financial institutions, appraisers and others all rely on MLS® data.
How Is This Term Used in Real Estate?
Multiple Listing Service is a common term you’ll encounter on your journey to buying or selling. Because most property-listing sites pull data from various MLS® information feeds, it’s often found on most real estate search sites you’ll use.
Example of an MLS® number on a property listing on Metro Vancouver Life:
Example of an MLS® number on a property listing on realtor.ca:
Frequently Asked Questions
Can anyone post on the MLS®?
No, not everyone can post on the MLS®. The regional databases are only open to listings from licensed real estate agents.
What fees are associated with the MLS®?
Depending on your local MLS® organization, the costs can range anywhere from $10 per month to into the hundreds. This is charged to the broker or agency for the listings. Anyone can access the MLS® to view listings for free.
What is an MLS® number?
An MLS®number is a number assigned to a specific property on the market. This makes it easily referenceable and searchable across several different databases. As well, it helps avoid any confusion with similar listings.
