Multiple Listing Service (MLS) Legal Meaning and Definition

Here is a simplified definition of the legal term Multiple Listing Service (MLS).

Multiple Listing Service (MLS) [noun]

A Multiple Listing Service, commonly referred to as an MLS, is a cooperative system used by real estate brokers that allows them to view and share information about property listings with other member brokers. This system aids in buying and selling homes by providing extensive data about each property listed, such as its size, price, location, and photographs. This service is primarily used for marketing purposes and enables brokers to find suitable properties for their clients more effectively.