Multiple Listing Service – Definition

Cite this article as:"Multiple Listing Service – Definition," in The Business Professor, updated April 22, 2019, last accessed October 26, 2020, https://thebusinessprofessor.com/lesson/multiple-listing-service-definition/.

Back To: Real Estate, Personal, & Intellectual Property

Academic Research on Multiple Listing Service (MLS)

The multiple listing service, commission splits, and broker effort, Miceli, T. J. (1991). The multiple listing service, commission splits, and broker effort. Real Estate Economics19(4), 548-566 This paper examines the impact of split commissions on broker effort in MLS sales. The paper aims to show that while sellers still prefer to pay only the broker who finds a buyer, brokers may not be willing to acquire and share listings under such an arrangement.

Multiple listing service participation in the real estate brokerage industry: Cooperation or competition?, Frew, J. R. (1987). Multiple listing service participation in the real estate brokerage industry: Cooperation or competition?. Journal of Urban Economics21(3), 272-286. This paper analyzes the impact of Bad Debt Loss Insurance on settlement outcomes. The paper starts with a simple trial and litigation model with perfect and complete information. It adds the possibility of a defendant’s bankruptcy as well as Bad Debt Loss Insurance for both the settlement and the trial stage.

On the relationship between property price, time-on-market, and photo depictions in a multiple listing service, Benefield, J. D., Cain, C. L., & Johnson, K. H. (2011). On the relationship between property price, time-on-market, and photo depictions in a multiple listing service. The Journal of Real Estate Finance and Economics43(3), 401-422. This paper investigates the relationship of property price and time-on-market to the use of property photo depictions in a multiple listing service. The paper aims to show that additional photographs increase price, while simultaneously lengthening property marketing duration, with all other things being equal.

The impact of a Multiple listing service, Li, L., & Yavas, A. (2015). The impact of a Multiple listing service. Real Estate Economics43(2), 471-506. This article offers a theoretical investigation of the impact of a multiple listing service (MLS) and its optimal size. The article studies a principal‐agent model of real estate brokerage with multiple agents, where the entry of new agents imposes externalities on the other agents. The article aims to show that giving a greater portion of the commission to the selling agent increases effort levels, reduces the number of agents and improves total surplus.

Professionalization of Real Estate Brokerage and the Problem of Multiple Listing Service Exclusion: A Sherman Act Analysis, Murr, M. D. (1980). Professionalization of Real Estate Brokerage and the Problem of Multiple Listing Service Exclusion: A Sherman Act Analysis. Tex. L. Rev.59, 125.

Ending the Uniformity of Residential Real Estate Brokerage Services-Analyzing the National Association of Realtors’ Multiple Listing Service under the Sherman Act, Nagalski, B. (2007). Ending the Uniformity of Residential Real Estate Brokerage Services-Analyzing the National Association of Realtors’ Multiple Listing Service under the Sherman Act. Brook. L. Rev.73, 771.

An analysis of the multiple listing service, Uri, N. D. (1985). An analysis of the multiple listing service. Socio-Economic Planning Sciences19(6), 399-405 This paper looks at the operation of the Multiple Listing Service and suggests that it is not correct to suggest that no restrictions should be placed on the membership in a multiple listing service.

Using Multiple Listing Service Data to Analyze Determinants of Residential Property Values, Penn, J. B., & Irwin, G. D. (1972). Using Multiple Listing Service Data to Analyze Determinants of Residential Property Values. Journal of the Northeastern Economics Council1(1), 294-302. This paper explores the increase in housing needs in the United States since the World War II. It also explores the increase in transportation lags, urban blight and sprawl, decay of central cities, poverty, pollution, racial discrimination, rural slums, and the like.

Real Estate Multiple Listing Service as Restraint of Trade, Schildt, W. M. (1967). Real Estate Multiple Listing Service as Restraint of Trade. Wash. & Lee L. Rev.24, 67.

Multiple listing service subsidies and economic efficiency, Turnbull, G. K. (1997). Multiple listing service subsidies and economic efficiency. The Journal of Real Estate Finance and Economics14(3), 365-370. In an earlier article in this journal, Sefton and Yavas (1995) concluded that subsidizing a monopoly multiple listing service (MLS) can be efficient when the curvature of the representative consumer’s demand function leads to overshifting. This paper extends their analysis to a multiple-consumer demand model.

MULTIPLE LISTING SERVICE RULES and REGULATIONS, Maria, S. MULTIPLE LISTING SERVICE RULES and REGULATIONS.

Was this article helpful?