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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.
On May 27, 2008, NAR and the U.S. Department of Justice reached a favorable settlement, concluding a two-year DOJ investigation (followed by two and a half years of litigation) regarding NAR's multiple listing policy as it pertained to the display of listings from the MLS on brokers' virtual office Web sites, or VOWs. [3]
An Internet Data Exchange (IDX, also known as Information Data Exchange [1]) refers to the agreement between listing (Selling) Agents or Brokers and Buyers' Agents to display Multiple Listing Service properties online, across multiple websites (via Real Estate Syndication where the listing Agent/Broker allows a listing to be Syndicated).
RE/MAX was founded in January 1973 by Dave Liniger and Gail Main (who later married Liniger and became Gail Liniger) in Denver, Colorado. [5] [6] [7]The company was established with a maximum commission concept, meaning that agents would keep nearly all of their commissions and pay their broker a share of the office expenses, rather than paying their broker a share of the commission of each ...
Flat-fee real estate agents charge a seller of a property a flat fee, $500 for example, [11] as opposed to a traditional or full-service real estate agent who charges a percentage of the sale price. In exchange, the seller's property will appear in the multiple listing service (MLS), but the seller will represent him or herself when showing the ...
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A commercial information exchange (CIE) is an Internet-based commercial property listing service in the United States that is operated by a local association to serve the local market. [ 1 ] A CIE is the commercial real estate equivalent of the residential Multiple Listing Service .
Originally, brokers and agents doing business in different jurisdictions would have been required to obtain membership in several different MLS systems. When joining an individual Association of Realtors and becoming affiliated with NAR at the same time, individual brokers and agents have the option of joining MRIS.
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