What is the function of a Multiple Listing Service (MLS)?

The function of a Multiple Listing Service (MLS) is primarily to facilitate cooperation among real estate agents and brokers. It allows listed properties to be viewed by any licensed member of the MLS, making it easier for these professionals to sell properties listed by their peers.

The correct choice highlights the collaborative nature of an MLS, as it supports the idea that any member can sell a property listed in the service, increasing exposure and potential sales opportunities. The MLS acts as a centralized database that promotes transparency and accessibility in the real estate market, enabling agents to work together more effectively.

Regarding the other options, providing legal advice is not the function of the MLS; this falls under the purview of licensed attorneys or real estate professionals with legal expertise. While the MLS does play a role in determining market trends and may influence pricing indirectly, its main objective is not to set property prices. Instead, pricing is generally determined by market conditions and individual negotiations. Finally, while an MLS does facilitate advertising among its members, its primary function is not specifically to advertise properties on multiple platforms, but rather to allow for shared access among real estate professionals to aid in selling properties.