“MLS” – Multiple Listing Service Explained
The acronym MLS is derived from the Multiple Listing Service, also knows as MLSNI.
It is an organization which brings about thirteen different boards of Realtors together. One of the main easons is sharing listing information of all properties listed by Realtor members of those associations through so called, broker reciprocity agreements.
Probably the largest and best known is Chicago Association of Realtors, also known as CAR. Other associations include North Shore-Barrington Association of Realtors, Oak Park Board of Realtors, Aurora Tri-County Association of Realtors, Fox Valley Association of Realtors, Realtor Association of Northwest Chicagoland, West Towns Board of Realtors, Lake County Association of Realtors, McHenry County Association of Realtors, Illinois Association of Realtors, Realtor Association of West/South Suburban Chicagoland, Three Rivers Association of Realtors and Will-Grundy Association of Realtors.
The MLS covers pretty much the whole Northern Illinois, some Indiana, Wisconsin and even some out of the area locations. It is not uncommon to find a property listing from a different country.
The MRED, Midwest Real Estate Data, controls the feed of MLS data into numerous third party website. Most of the sites receive the data with some delay. Some update their websites daily, some every few hours. How the data is organized and when it is updated on the receiving websites differs from site to site. Additionally, the information provided to the consumer is formatted to fit pages designed by many different webmasters. That is why consumers gravitate towards a well organizes and easy to navigate sites. One of the best sites for property search is http://www.lizshomes.com, so please visit it and enjoy your new property search in the comfort of your home.