Final answer:
An organization of real estate brokers that exists for the purpose of exchanging listing information is known as a Multiple Listing Service (MLS).
Step-by-step explanation:
An organization of real estate brokers that exists for the purpose of exchanging listing information is known as a Multiple Listing Service (MLS).
The MLS is a database where real estate professionals share information about properties that are available for sale or rent. It allows brokers to cooperate with each other, share listings, and offer better services to their clients.
For example, if a broker has a client looking for a specific type of property, they can search the MLS to find all the listings that match their client's criteria, even if those listings are held by other brokers.