multiple listing service

multiple listing service definition - finance
A system that shows all the houses available for sale in a certain area. Multiple listing services help buyers because they quickly show what property is available in a specific area and at what price ranges. If a real estate agent other than the one who listed the property for sale ends up selling it, then both agents split the commission. Although the amount of the listing agentÂ’s commission decreases in such a sale, the system effectively increases the agentÂ’s chances of selling a property and thereby earning at least a partial commission.

Webster's New World Finance and Investment Dictionary Copyright © 2003 by Wiley Publishing, Inc., Indianapolis, Indiana.
Used by arrangement with John Wiley & Sons, Inc.

Comments
Improve this definition.
Do you have more to add? Share your linguistic knowledge or observation.
/Register to save your comments.