Why Multiple Listing Service Canada is a game-changer for agents and brokers

The Multiple Listing Service (MLS) plays a crucial role in helping real estate professionals find properties that match their clients’ needs. Over the years, it has evolved from a simple way for agents and brokers to share listings to become the country’s biggest real estate marketplace.

In this article, CMP delves deeper into the Multiple Listing Service system in Canada. We will explain how the system works and why it is a vital part of the nation’s housing sector.

New industry professionals can use this guide to learn how MLS systems can make their jobs easier. Homebuyers and sellers, meanwhile, can gain a deeper understanding of how the tool operates.

Here’s what you need to know about Multiple Listing Service in Canada. 

What is the Multiple Listing Service?

The Multiple Listing Service acts as a cooperative system where real estate professionals share information about properties with each other. It boasts a comprehensive database of property listings from different parts of the country. This allows agents and brokers to find the right home that matches varying client needs.

The Multiple Listing Service is a registered trademark owned by the Canadian Real Estate Association (CREA), the nation’s largest trade body. CREA works with dozens of local real estate boards across Canada to provide a platform where the homebuying process can proceed efficiently.

The MLS is accessible only to CREA members, also referred to as REALTORS. The database contains the latest information about property listings, making it a vital tool for real estate professionals.

CREA also has a publicly accessible website, called Realtor.ca. Here, consumers can search and compare properties for sale. The details they can view, however, aren’t as comprehensive as those that members can access. For example, homebuyers won’t be able to see private information about the sellers for security reasons.

How does Multiple Listing Service Canada work?

The MLS contains a database of property listings compiled by cooperating real estate agents and brokers. It also serves as a marketplace where these industry professionals can find buyers and sellers for their clients.

In exchange for subscription, real estate professionals can view the following details about a property listing:

• address
• square footage
• year built
• number of bedrooms and bathrooms
• amenities
• asking price, along with recent price changes
• property taxes
• homeowners’ association (HOA) fees
• special assessments, if any
• listing agent and agency’s contact information

Members can also view multiple photos of a property. The MLS has strict requirements regarding the quality of images uploaded to the platform. This is to give agents and buyers an accurate picture of the home for sale.

Real estate professionals can also access virtual tours, so they can find out if a home is suitable before scheduling a showing.

Not everything about a listing, however, is posted on the Multiple Listing Service Canada. Some details excluded from the MLS are:

• reasons for selling the property
• disclosures related to property damage or defects
• personal property not included in the sale like furniture and appliances

The MLS facilitates real estate transactions by giving industry professionals and homebuyers an idea of what types of properties are available in the market. It also allows them to shop around and compare homes to help them find the best deal. This can include properties in the cheapest places to buy a home in Canada.

Who can access the MLS?

The Multiple Listing Service in Canada is accessible only to licensed real estate agents and brokers whose organizations hold CREA membership. One of the reasons for limiting access is to safeguard private information, including personal details of the buyers and sellers, and showing schedules.

This exclusivity also arises from the financial costs of maintaining the MLS. Membership dues help cover these expenses to ensure that the system remains updated and secure.

Currently, there are more than 60 real estate boards listed on CREA’s website. Here’s a province-by-province breakdown. You can click on the links to access the MLS portal, featured listings, or member resources page of your local board. Some boards don’t have official websites. You may need to visit Realtor.ca to find listings in these areas.

List of real estate boards and associations using the Multiple Listing Service Canada (Alberta)

Alberta Real Estate Association (AREA)

Alberta West REALTORS® Association (AWRA)

Calgary Real Estate Board (CREB)

Central Alberta REALTORS® Association (CARA)

Fort McMurray REALTORS® (FMREB)

Grande Prairie and Area Association of REALTORS® (GPAAR)

Lethbridge & District Association Of REALTORS® (LDAR)

Medicine Hat Real Estate Board Co-Operative Ltd. (MHREB)

REALTORS® Association of Edmonton (RAE)

REALTORS® Association of Lloydminster & District (RALD)

REALTORS® Association of South Central Alberta (RASCA)

List of real estate boards and associations using the Multiple Listing Service Canada (British Columbia)

British Columbia Real Estate Association (BCREA)

Association of Interior REALTORS®

BC Northern Real Estate Board (BCNREB)

Chilliwack and District Real Estate Board (CADREB)

Fraser Valley Real Estate Board (FVREB)

Greater Vancouver REALTORS® (GVR)

Powell River Sunshine Coast Real Estate Board (PRSCREB)

Vancouver Island Real Estate Board (VIREB)

Victoria Real Estate Board (VREB)

List of real estate boards and associations using the Multiple Listing Service Canada (Manitoba)

Manitoba Real Estate Association (MREA)

Brandon Area REALTORS® (BREB)

Winnipeg Regional Real Estate Board (WRREB)

List of real estate boards and associations using the Multiple Listing Service Canada (New Brunswick)

New Brunswick Real Estate Association (NBREA)

Greater Moncton REALTORS® du Grand Moncton (GMRGM)

Real Estate Board of Fredericton Area Inc. (REBFA)

Saint John Real Estate Board (SJREB)

List of real estate boards and associations using the Multiple Listing Service Canada (Newfoundland & Labrador)

Newfoundland & Labrador Association of REALTORS® (NLAR)

List of real estate boards and associations using the Multiple Listing Service Canada (Northwest Territories)

Yellowknife Real Estate Board (YKREB)

List of real estate boards and associations using the Multiple Listing Service Canada (Nova Scotia)

Nova Scotia Association of REALTORS® (NSAR)

List of real estate boards and associations using the Multiple Listing Service Canada (Ontario)

Ontario Real Estate Association (OREA)

Barrie & District Association of REALTORS® (BDAR)

Brantford Regional Real Estate Association (BRREA)

Central Lakes Association of REALTORS® (CLAR)

Chatham-Kent Association of REALTORS® (CKAR)

Cornwall and District Real Estate Board (CDREB)

Guelph & District Association of REALTORS® (GDAR)

Huron Perth Association of REALTORS® (HPAR)

Kingston & Area Real Estate Association (KAREA)

Lakelands Association of REALTORS® (LAR)

London and St. Thomas Association of REALTORS® (LSTAR)

Mississauga Real Estate Board (MREB)

Niagara Association of REALTORS® (NAR)

North Bay and Area REALTORS® Association (NBREB)

Oakville, Milton & District Real Estate Board (OMDREB)

Ottawa Real Estate Board (OREB)

REALTORS® Association of Grey Bruce Owen Sound (RAGBOS)

REALTORS® Association of Hamilton-Burlington (RAHB)

Renfrew County Real Estate Board (RCREB)

Rideau–St. Lawrence Real Estate Board (RSLREB)

Sarnia-Lambton Association of REALTORS® (SLREB)

Sault Ste. Marie Real Estate Board (SSMREB)

Simcoe & District Real Estate Board (SDREB)

Sudbury Real Estate Board (SREB)

Thunder Bay Real Estate Board (TBREB)

Timmins, Cochrane & Timiskaming Districts Association of REALTORS® (TCTDAR)

Toronto Regional Real Estate Board (TRREB)

Waterloo Region Association of REALTORS® (WRAR)

Windsor-Essex County Association of REALTORS® (WECAR)

Woodstock Ingersoll Tillsonburg & Area Association of REALTORS® (WITAAR)

List of real estate boards and associations using the Multiple Listing Service Canada (Prince Edward Island)

Prince Edward Island Real Estate Association (PEIREA)

List of real estate boards and associations using the Multiple Listing Service Canada (Québec)

Association professionnelle des courtiers immobiliers du Québec (ACPIQ)

Chambre immobilière - Estrie - Mauricie - Centre-du-Québec (CIEMCQ)

Chambre immobilière de l’Abitibi-Témiscamingue Inc. (CIAT)

Chambre immobilière de l’Outaouais Inc. (CIOI)

List of real estate boards and associations using the Multiple Listing Service Canada (Saskatchewan)

Saskatchewan REALTORS® Association (SRA)

List of real estate boards and associations using the Multiple Listing Service Canada (Yukon)

Yukon Real Estate Association (YREA)

 

Members can access the database by logging on to the MLS software provided by their local association. Once logged in, the listings can be filtered by:

• address to search for properties in a specific location
• price range for sorting homes within a certain asking price
• number of rooms, including bedrooms and bathrooms
• square footage
• lot size
• year built or constructed
• type of property, including single homes, multi-family houses, condos, commercial properties, and land

Users can also combine different criteria to find a home that fits exactly what their clients are looking for. Members can also search for property by price drops, new listings, and showing schedules. 

What are the rules for MLS membership?

To participate in the MLS, real estate professionals must adhere to a code of ethics and rules of cooperation. Here are some of these rules:

On-time payment of MLS fees

Membership in the Multiple Listing Service Canada requires a one-time joining fee. After this, real estate agents and brokers must pay an annual membership fee. This can be paid yearly or in monthly instalments. Missed or late payments can result in penalties, which can include suspension.

Continuing education

Real estate professionals are required to complete certain hours of continuing education to renew their licenses. Ongoing training is also designed to keep them abreast of the latest industry trends and best practices.

Listing properties

Members are required to post new listings within 24 to 48 hours after signing the listing agreement. They must also ensure that the details provided are accurate and truthful. This entails updating listings whenever there are changes.

Any violation can result in fines and other penalties. The MLS also has strict rules on the number and quality of the images posted.

Ethical standards

Real estate agents and brokers must follow CREA’s code of ethics and standards of practice. Unethical practices such as posting misleading information and failing to disclose important details about a property listing can lead to fines, suspension, or even expulsion from the MLS.

Errors and omissions coverage

Members are required to carry errors and omissions (E&O) insurance. This form of coverage protects real estate agents and brokers from allegations of negligence in performing their duties.

Making listings accessible to other agents and brokers

By joining the MLS, real estate professionals agree to share their listings with other agents and brokers. This follows Multiple Listing Service Canada’s showing and selling procedures. Failing to share their listings is considered a serious violation.   

These rules are designed to promote cooperation between real estate professionals and enable them to provide the best possible service. MLS members must maintain good standing to access all the benefits of the platform.

How much does it cost to access the Multiple Listing Service in Canada?

The MLS serves as a platform where real estate agents and brokers compile property listings in a comprehensive database to make them accessible to more homebuyers. Since it costs money to maintain this database, access to the MLS comes with a corresponding fee.

The fees vary depending on the location and the type of technology used. In Canada, most real estate boards use IDX that integrates with either Direct or DDF. Fees in almost all provinces and territories are $108 per year or $9 a month. The only exception is Alberta where the cost is $60 yearly or $5 monthly.

What are the benefits of MLS membership?

The Multiple Listing Service enables real estate agents and brokers to find a home that fits their clients’ needs more efficiently and effectively. This is because of the following benefits:

Access to an extensive list of properties

The MLS comprehensive database of listings gives agents and brokers easy access to homes that clients may be interested in. This saves them time and energy they might have spent searching other real estate websites and brokerage firms.

Maximum exposure

Listings posted on the MLS get maximum visibility due to the platform’s extensive reach. Because the properties can be seen by more potential buyers, there’s also a better chance of the homes selling quickly at the best price.

Read more: When is the best time to sell a property in the Greater Toronto Area?

Valuable data

The Multiple Listing Service provides valuable resources that enable agents to serve clients better. Through the system, these industry professionals can access a range of data, including property records and sales history. This information can help them offer good advice to homebuyers in terms of home prices, negotiating strategies, and market trends.

Finding leads

Many MLS platforms offer lead distribution services to members. These leads can be a good source of potential clients and can lead to sales.

The Multiple Listing Service is just one of the many ways real estate professionals can keep up to date with the latest industry trends. You can also do so by visiting and bookmarking our Canada Mortgage Professional News Section. Get news and updates on the mortgage industry as they happen.

Do you think membership in the Multiple Listing Service Canada is worth it? Are there other listing services that might be better? Share your thoughts in the comments below.