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Multiple listing service. A multiple listing service ( MLS, also multiple listing system or multiple listings service) is an organization with a suite of services that real estate brokers use to establish contractual offers of cooperation and compensation (among brokers) and accumulate and disseminate information to enable appraisals.
MLS is an acronym for multiple listing service, a platform in which the real estate industry in a certain region compiles all the listings available for sale in that area.
Flat-fee multiple listing service or flat-fee MLS refers to the practice in the real estate industry of a seller entering into an " à la carte service agreement " with a real estate broker who accepts a flat fee rather than a percentage of the sale price for the listing side of the transaction. A flat-fee MLS brokerage typically unbundles the ...
In central Ohio, the commission is often 3% of the sales price to each. A seller, for example, would pay $18,000 in real-estate commissions — $9,000 to agents on each side — on the sale of a ...
In addition, listing agents will no longer be permitted to state the buyer’s agent commission in the MLS (multiple listing service), as has been common practice.
For sale by owner. A house for sale by its owner. For sale by owner ( FSBO) is the process of selling real estate without the representation of a broker or agent. This is where the homeowner sells directly to a new homeowner. Homeowners may still employ the services of marketing, online listing companies, but can also market their own property.
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