What an MLS is — and why it matters
A Multiple Listing Service (MLS) is a shared database where a member agent lists a property once and other eligible members can market and sell it, with the commission split agreed up front. It exists so a buyer's agent and a seller's agent can co-broke a single deal cleanly, and so participating agents can offer clients more current inventory than their own listings alone. In mature markets an MLS helps agents in different neighbourhoods work the same transaction.