Definition: A cooperative listing-information service through which participating real estate professionals share property data under established rules.
Example
A participating broker enters a seller's authorized listing so other participants can find accurate offering information.
Keep the distinction clear
The MLS is not the licensing authority or the same as every public listing website. Participation does not establish a standard commission rate.
Related terms
Listing Agreement · Real Estate Brokerage · Antitrust Laws
Keep studying
Open Listing vs. Exclusive Agency vs. Exclusive Right of Sale
References: FREC Course II syllabus: investment concepts · California DRE: real estate glossary
Pronunciation (US): MUL-tuh-pul LIS-ting SUR-vis; em-el-ESS (capitals show stress)
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