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The MLS stands for the Multiple Listing Service, a proprietary database usually owned and operated by your local Realtor Association. The MLS was created to assist agents and brokers get their listed properties sold by offering to cooperate on the sale with all of the other agents and brokers within their market area. Usually this involves an offer to compensate the buyer agent who procures a buyer for the property. The MLS is responsible for the vast majority of residential real estate sales nationwide. It is the 'de facto' market for real estate in most areas.
