MLS (Multiple Listing Service)

The licensed agent database where most for-sale residential property is listed.

Most US markets have a regional MLS run by the local Realtor association. Only licensed agents have direct MLS access; consumer sites like Zillow and Redfin syndicate from the MLS but with delays and missing fields. Investor implication: working with an investor-friendly agent who'll send you raw MLS exports gives you a real edge over consumer-site shopping — more accurate pricing data, full DOM (days on market) history, and comparable closed-sale data with actual sale prices vs Zestimate guesses.