The acronym "M.L.S." is an everyday term in the real estate industry. So what exactly is the MLS? On a basic level, the MLS is database of all of the properties available for sale and represented by a real estate agent in a given area. The MLS also creates the framework by which agents agree to cooperate and compensate one another. There is also a high level of supervision by the system administrators, which provides accuracy and professionalism, reducing fraud. With the emergence of search sites like Zillow, Trulia, and Realtor.com, the consumer has been empowered with valuable information, which is important. The key thing for home buyers and sellers to know is that these sites don't always have the most up-to-date or accurate information. If you are thinking of selling you will get the most exposure possible by being represented by an agent, who will place your home on the MLS.