Multiple Listing Service (MLS) is a service of the Osceola County
Board of REALTORS® open to any broker who is a member and chooses
The powerful combination of a weekly publication and computer terminals strengthens the marketing possibilities for sellers and enables REALTORS® to better satisfy the housing needs of sellers and buyers.
The MLS and its participants recognize the existence of national, state and local laws concerning discrimination in housing. Discrimination in the sale, rental or leasing of housing in Florida based on race, religion, color, national origin, ancestry, sex, handicap or families with children is illegal. As participants in the MLS, REALTORS® must abide by the letter and spirit of the law.
When a seller signs an exclusive right to sell listing agreement with a REALTOR®, the broker is given the exclusive right to sell the property with an additional authority and obligation on his or her part to distribute the listing to other cooperating brokers in the Multiple Listing Service. The advantage to a seller under this form of listing agreement is that all the members of the MLS are offering the property to prospective buyers.
When a property is listed for sale, it goes through three phases of processing. First, the required information is entered in the MLS computer and is instantly accessible to all the REALTORS® who have access to the computer system. After the listing is entered into the computer database, the property will appear in the weekly MLS books, complete with a photo.
These two marketing methods provide the maximum exposure of the property to other REALTORS® who will try to help sell it.
The second phase is when a property goes off the market either through a sales contract or the seller takes it off the market. Information about the property remains in the computer system, but the status changes to indicate it is no longer available for sale.
The final phase takes place when the transaction actually closes and the property is "sold." The REALTOR® sends a closing report to the MLS so the status of the property can be changed to "sold." The information about the property remains in the computer system as a sold listing. This information helps other REALTORS® determine a fair market price for similar properties.
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