Multiple Listing Services
What is an MLS?
A Multiple Listing Service (MLS) is an organization that operates a centralized database used by real estate brokers and agents to input detailed information about properties for sale. The MLS then distributes and syndicates this data, powering PropTech products and websites. This exchange of information creates an efficient marketplace of homes for sale, enables data-driven market insights, and facilitates cooperation among brokers by allowing them to see and market each other's listings.
How MLSs work?
MLS Members typically access the MLS through a “Member Portal” dashboard provided by their MLS. They SSO from this dashboard into the MLS web application, which is a software front-end that allows them to input and edit listings in the MLS database. This MLS software interface includes integrations for Tax Data auto-population, CMA tools, and Showing Management. Once data is in the MLS database, data distribution systems make the data available for vendors to purchase the data or use IDX data on behalf of brokers.
Types of MLS Ownership
Association
An association-owned MLS is a Multiple Listing Service that is owned and operated by a real estate association, typically managed for the benefit of its stakeholder brokers and agents.
Brokerage
A brokerage-owned MLS is owned and operated by multiple brokerages stakeholders instead of by the local real estate association.
Hybrid
A hybrid MLS is one that is jointly owned and operated by a combination of real estate stakeholders, including brokerages, associations, and sometimes other MLSs.
Private Entity
A privately-owned MLS is owned and operated by a private entity rather than by a real estate association or group of brokerages.
Association-Owned MLSs
Association-owned MLSs are owned and managed by one or multiple local associations. The local associations typically handle the day-to-day operations or serve as a board that approves strategic initiatives and hires MLS staff. They help ensure the MLS meets the specific needs of the local real estate market, while adhering to the broader standards set by the National Association of Realtors (NAR) and state associations.
MLS-PropTech by Ownership
350+
Association
There are over 200 PropTech companies with over 350 unique product offerings
500+
Brokerage
There are over 500 MLSs, a number quickly shrinking due to consolidation
1000+
Private
There 1000 real estate Associations in the United States (and beyond)
MLS Technology Partners
Many PropTech companies rely heavily on MLS data to power their products. Many such products aim to solve problems for the members of the MLS (Member Class), while others serve as core MLS and/or Association infrastructure (MLS/AoR Class). From there we have identified four distinct categories within each class, and classified hundreds of related products.
