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Multiple Listing Clause

DEFINITION

Provision in a listing agreement that grants the agent the right to list the property on the multiple listing services website to inform other brokers of the listing.

EXPLANATION

A multiple listing clause gives an agent the ability to place a seller’s property on the MLS. The MLS, officially known as the Multiple Listing Service, is an online portal where agents and other real estate professionals have the ability to view, list, and get information on other proprieties. It is the online portal of choice for the vast majority of real estate professionals.

In order to list the property on the MLS, an agent must get a signed statement from the seller to permit the listing being placed on the MLS. The statement is called the multiple listing clause. The multiple listing clause is a provision in a listing agreement that grants the agent the right to list the property on the multiple listing services website to inform other brokers of the listing.

Pro’s and Cons of Listing on MLS

Listing a property on the MLS proves invaluable to seller’s efforts to sell a property. Having a property listed on the MLS gives seller’s the ability to advertise their property to millions of agents nationwide. This provides free marketing to agents, whom are generally the one’s who introduce property to buyers.

Oftentimes however, many sellers may opt to not have their property listed online, for a few reasons. Potential reasons a seller may not want to list the property is because they are unsure whether they truly want to sell the property or do not want others to know of their intention to sell. Another reason is because if the property does not sale, the seller would have a more difficult time marketing the property to others.

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