Multiple Listing Service

Multiple Listing Service (MLS) (also Multiple Listing System or Multiple Listings Service) is a database that allows a broker representing a seller to share information about the property for sale widely with brokers representing potential buyers.

The purpose of the MLS to is enable a more efficient marketplace to occur between brokers by distributing information. When a real estate agent is introduced to a potential home buyer, the agent can search the MLS system to retrieve information about homes for sale in that area. The MLS permits that agent to view information about homes represented by OTHER brokers, just as a securities broker can see the price of stock put up for sale by other brokers through the securities exchanges. The MLS is an exchange for real estate, just as the New York Stock Exchange and NASDAQ are exchanges for securities, but the MLS is not an open exchange or a public exchange. Unlike securities exchanges, which have government oversight (the Securities and Exchange Commission), the MLSs are governed by private entities and the rules are set by those private entities with no state or federal oversight.

The MLS typically combines the listings for all available properties that are represented by a broker that is a member of the MLS. Membership to the MLS is generally considered to be essential to the practice of real estate brokerage -- a broker that is not a member cannot put information into the MLS or access information submitted by other brokers.

Most MLSs restrict membership and access to real estate agents who are 1) licensed by the state (or province), and 2) members of the trade association (e.g., the National Association of Realtors or Canadian Real Estate Association). Generally, a person selling his or her own home (i.e., for sale by owner) cannot put a listing for their home directly into the MLS. Similarly, a properly licensed broker that chooses to neither join the trade association nor operate a business within the associations's rules, cannot join the MLS.

In general, MLSs are private entities that set their own rules for membership, access, and sharing of information. An MLS may be owned and operated by a real estate company, a real estate board, or a trade association.

In general, the public cannot gain access to the MLS. Individual brokers who are members of the MLS may provide information to potential buyers in different ways -- providing specific listings on paper in an office is customary. An agent may also email or fax listings. However, real estate brokers sometimes use their websites to permit potential buyers to see MLS data, and is the subject of significant controversy.

United States

The National Association of Realtors (NAR) has set policies that permit brokers to show only limited MLS information on their websites. NAR has an ownership interest in a company (Homestore) that operates a website that has exclusive rights to display significant MLS information. That site is www.Realtor.com.

The U.S. Department of Justice filed an antitrust lawsuit in September 2005 against the National Association of Realtors over the NAR's policy that restricts brokers from establishing websites that show home sellers information that is in the MLS. The DOJ's antitrust claims also include NAR rules that exclude certain kinds of brokers from membership in MLSs.

Currently, in the United States there is no one central MLS. MLS's have city-wide or regional coverage. In 2005, there were approximately 800 MLSs in the United States , each dedicated to a city or region.

The Largest MLS in the United States is currently The Multiple Listing Service of Northern Illinois (MLSNI) with over 45,000 active members.

 

 

 

About Three Palms Real Estate – Your Professional Guides to Paradise
With so many choices it’s hard to navigate the volume of information available to you. Three Palms Professional Realtors will do the work for you. From beachfront Gulf Shores Condos to secluded family homes in Orange Beach, we know the best properties and we know the market. It’s important to us to educate our clients about the activities and amenities available in the area, as well as the types of properties we have to offer and financing options to help you make an informed decision that is right for you. Our mission is to determine your specific needs, desires and goals and to find the property and investment that is right for you.

Whether your dream is living on the water or just minutes from it, our Professional Guides to Paradise can get you here!

Call us at 1.866.980.PALM (7256) or Email Us to discuss the possibilities. Check out our favorite picks, or perform a custom search for Gulf Shores real estate or Orange Beach Real Estate.

Licensed in Alabama and Florida.

Gulf Shores and Orange Beach Area Info

Climate
The Gulf Coast Area has a mild climate with an average annual temperature of 67.4 degrees. The average temperature in January is 51.4 degrees. The average temperature in July is 81.8 degrees. The average annual precipitation is 67 inches, and the growing season is 292 days.

Education
Education is a fundamental block in building a bright future. The Gulf Coast Area opened a brand new high school during 1999 in Gulf Shores (ph. 251.968.4747). The area has two elementary schools; they are Gulf Shores Elementary (ph. 251.968.7375) and Orange Beach Elementary (ph. 251.981.5662). Gulf Shores Middle School (ph. 251.968.8719) offers an excellent curriculum in preparation for high school. All public schools are part of the Baldwin County school system. If you are interested in private education, you also have the option of Bayside Academy (ph. 251.955.5211), which includes age 3yrs – Grade 4.

Healthcare
The nearest hospital is South Baldwin Regional Medical Center (ph. 800.580.3627) located in Foley. South Baldwin Medical Center offers 24-hour emergency services (ph. 251.952.3400). Numerous medical professionals practice in the area providing both family practice and specialized care.

Airports
Corporate and Private air service is available in Gulf Shores from the Jack Edwards Municipal Airport, with a full Instrument Landing System and the longest paved runway being 7000 feet. The closest commercial air service is available in Pensacola, roughly 30 miles away, at the Pensacola Regional Airport (ph. 850.435.1746). Major carriers serving the airport are Continental, US Airways, Delta, Northwest, and American. Other commercial airports are located in Mobile (ph. 251.633.0313) and Gulf Port, Mississippi (ph. 228.863.5951).

Shopping
The area offers many shops ranging from casual apparel and beachwear to upscale fashion and specialty boutiques. If you are a bargain hunter, you can find 120 factory outlet stores in Foley.

Parks and Recreation
The nearest state park is the Gulf State Park (ph. 251.948.7275). The 6,000-acre park area offers campsites, picnic areas, 18-hole golf course, 825 foot fishing pier, 144 room hotel and convention center. Other parks in the area include Bon Secour Wildlife Refuge (ph. 251.540.7720), Meyer Park (ph. 251.968.4420), Johnnie Sims Park and Kids Park (ph. 251.968.4420), and Wade Ward Nature Park (ph. 251.968.4420).

State/Local Income Tax
For detailed information about Alabama income tax, contact the Alabama Department of Revenue, Individual and Corporate Tax Division (ph. 251.242.1000). In most instances, local governments in Alabama do not levy city, town, or county income taxes.

Property Taxes
Property (Ad Valorem) taxes are taxes on real business and/or personal property. “Ad Valorem” means “according to value”. For details, call the Revenue Commissioner’s office (ph. 251.943.5061, ext. 2840).