What exactly is an MLS® System?
If you came looking for real estate listings in Calgary, Alberta, or simply want to connect with an accredited realtor in Calgary – you have come to the right place.
To help Canadians understand the MLS® system better, we decided it was necessary to share some of the following information because if you buy or sell your home for the first time, you might not be familiar with the entire concept of MLS®. On this page, you are going to find all the essential information that you need to know before listing your house for sale.
MLS stands for multiple listing services. MLS® systems are collaborative selling schemes run by various real estate boards and associations in Canada. They are available to REALTOR® members of those boards and associations who serve your interests and share a commission from the sale with a collaborating REALTOR® member. MLS® systems carry specific data and offer various search tools, all created to help people find the real estate properties that meet their exact expectations.
The fundamental purpose of an MLS is to render a platform for real estate agents to publish a single compensation by a listing realtor, to other fellow members in that MLS. In other words, the rate that is suggested by the listing agent is advertised within the MLS to other collaborating brokers. This offer of a commission is deemed to be a contractual commitment; however, it can be negotiated by the participating broker or the particular broker acting on the buyer’s behalf. MLS®’s database is used by real estate agents, serving sellers under a listing agreement to publicly share information about real estate properties with other brokers who may represent potential buyers.