Question

Which is true concerning multiple listing services?

a) Most are a function of a local Board of REALTORS.
b) All real estate licensees are members.
c) They collaborate to set suggested commission rates.
d) They enforce statutory real estate laws.

Answer 1

Multiple listing services (MLS) are typically a function of a local Board of REALTORS, serving as a database for real estate professionals to share information about properties.

Step-by-step explanation:

A multiple listing service (MLS) is a database that real estate brokers use to share information about properties they have listed for sale. The correct option in this case is a) Most multiple listing services are a function of a local Board of REALTORS. MLSs are typically operated by local associations of real estate professionals, such as local Boards of REALTORS, to facilitate the cooperation among real estate agents in the marketing and sale of properties.