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MLS systems set their own rules for membership, access, and sharing of information. An MLS may be owned and operated by a real estate company, a county or regional real estate board of realtors or association of realtors, or by a trade association. Membership in the MLS is not required for the practice of real estate brokerage.
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 ...
Realtors and brokers pay membership dues to access their local MLS. Though it may seem like a modern development, the concept of a multiple listing service actually dates all the way back to the ...
Originally, many county Associations offered dumb-terminal access to the MLS only in brokers' offices at speeds such as 300 baud and, eventually by the late 1980s, at 1,200 baud. After being founded in 1992, MRIS operated as a computer-based program on the Windows 3.1 operating system, with proprietary software issued by MRIS.
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Flat-fee multiple listing service or flat-fee MLS refers to the practice in the real estate industry of a seller entering into an "à la carte service agreement" with a real estate broker who accepts a flat fee rather than a percentage of the sale price for the listing side of the transaction.