What is MLS ?
MLS – simply put – is the exchange of property information for sale or lease and offers of compensation that lead to cooperative sales and lease transactions.
Multiple Listing Service is a service provided for International REALTOR® Members/ PRC Licensed Practitioners .
- a facility for the orderly correlation and dissemination of listing information so participants may better serve their clients and customers and the public
- a means by which authorized participants make blanket unilateral offers of compensation to other participants
- a means by which information is accumulated and disseminated to enable authorized participants to prepare appraisals, analysis, and other valuations of real property for bona fide clients and customers
- a means by which participants engaging in real estate appraisal contribute to common databases
A key element of Multiple Listing Service would be parcel based and not listing based. It will include all parcels of real property in the Municipality/City/Region, not just the inventory of properties available for sale at any given point in time
MLS is more than just a list of properties for sale. There are numerous publications or websites where you can go to find properties for sale, and those aren’t MLS. They’re missing a key element to what makes an MLS unique and that is a unilateral offer of compensation from the listing broker to cooperating brokers who find the buyer. In an MLS, listing brokers agree to pay cooperating brokers a percentage of the sales price or a flat Peso amount if they find the buyer for a property they have listed.
MISSION
To empower, support and educate our International REALTOR Members /PRC Licensed Practitioners to achieve their goals by providing cutting edge resources that improve and enhance their Real Estate Business to the next level.
To keep the Real Estate Practitioners in the Center of the real estate Conversation, realizing that that conversation extends from a purchase and continues after a purchase of real property. Real estate is a lifetime conversation
VISION
By embracing the acceleration of Information technology change, we lift the professional standards that fosters an environment that guarantees integrity and enlightenment and keeps our International REALTOR Members / PRC Licensed Real Estate Practitioners in the forefront of real estate as the premier source of accurate real estate data.
MLS to be the authoritative and trusted source for all things related to real estate, for Real estate Practitioners and Consumers
