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Multiple listing service. A multiple listing service (MLS, also multiple listing system or multiple listings service) is an organization with a suite of services that real estate brokers use to establish contractual offers of cooperation and compensation (among brokers) and accumulate and disseminate information to enable appraisals.
Flat-fee MLS. 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. A flat-fee MLS brokerage typically ...
Estate sale. Newspaper announcement for a farmer's estate sale, 1918. An estate sale or estate liquidation is a sale or auction to dispose of a substantial portion of the materials owned by a person who is recently deceased or who must dispose of their personal property to facilitate a move. [1]
Pocket listing. In the real estate industry in the United States, a pocket listing or hip pocket listing is a property where a broker sells a property through private connections rather than entering it into a multiple listing system (MLS) or otherwise publicly advertising it. [ 1] In Canada, this is called an Exclusive Listing.
An electronic version of the real estate industry, Internet real estate is the concept of publishing housing estates for sale or rent online, and for consumers seeking to buy or rent properties through such platforms. Often, Internet real estate properties are listed and managed by landlords themselves.
Fractional ownership. Fractional ownership is a method in which several unrelated parties can share in, and mitigate the risk of, ownership of a high-value tangible asset, usually a jet, yacht or piece of resort real estate. It can be done for strictly monetary reasons, but typically there is some amount of personal access involved.
Classified advertising. Classified advertising is a form of advertising, particularly common in newspapers, online and other periodicals, which may be sold or distributed free of charge. Classified advertisements are much cheaper than larger display advertisements used by businesses, [1] although display advertising is more widespread. [2]
Real estate agent. Real estate agents and real estate brokers are people who represents sellers or buyers of real estate or real property. While a broker may work independently, an agent usually works under a licensed broker to represent clients. [1] Brokers and agents are licensed by the state to negotiate sales agreements and manage the ...
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