The Multiple Listing Service (MLS®)
The Multiple Listing Service® (or MLS®) system is an information-sharing and cooperative marketing network created by REALTORS® several decades ago to help the public buy and sell homes. While it is computer-based today, it began as an exchange of paper listing information and photographs.
The MLS® mark symbolizes the cooperation among REAL TORS® to effect the purchase and sale of real estate, and is much more than a database of property information. The Canadian Real Estate Association owns the MLS® trademark, and licenses its use to Boards and Associations across Canada. MLS® systems are local, member-based services; Ottawa's MLS® system is paid for by the REALTOR® members of the Ottawa Real Estate
Board or OREB and is administered by Board staff.
Only REALTOR® members of CREA can list properties on their local MLS® system, making it a service that only a REALTOR® can offer you. Portions oflistings are uploaded to web sites such as OttawaRealEstate.org and mls.ca. The mls.ca web site is not an MLS® system, and does not display all of the listing information associated with a property in the local real estate Board's database.
Whenever a home that meets those criteria is listed on the MLS® system, you will receive an email containing information about the property, so that if you're interested, you can call your REALTOR® to view it.
The MLS® listing provides your REALTOR® with detailed information such as room dimensions, estimated property taxes, inclusions such as appliances, renovations, and the sales history of the home. He or she can also use the MLS® system to compare the asking price of a property with homes that have recently sold in that area. Because the MLS® system is a cooperative marketing network ofREALTORS®, no matter who listed the home or what brokerage they work for, if the house meets your criteria, your REALTOR® can schedule an appointment for you to view it.
Selling a Home
When you list your home for sale with an Ottawa REALTOR®, it will be viewable not only by REALTORS® who work at the same brokerage, but by other REALTORS® in your area and across Canada. Your property will be seen by many more people than if your REALTOR® had simply put a sign on your lawn. Someone looking to move to your city from another province might see your home online and ask their REALTOR® to show it to them when they come to town on a home-buying expedition, for instance.
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