MLS® (Multiple Listing Service®)매물 공유 시스템

What is it?

MLS® (Multiple Listing Service®) is a co-operative selling system in which agents share their listings so that a buyer working with any brokerage can see and buy the home. For a seller, it means the home is shown not by one agent but to every member agent in the area.

MLS® is a trademark of CREA (the Canadian Real Estate Association). CREA says the mark has been used since 1954 and that it does not identify a computer database but the standard of service REALTOR® members provide within a co-operative selling system. That is also why it can never be part of a business name.

The actual systems are run by local boards. In the GTA it is TRREB’s MLS® System, and TRREB explains in its 2026 reports that its system is part of the PropTx MLS® System shared by several boards.

How it works

1. The seller signs a listing agreement with a brokerage and consents to an MLS® listing.
2. The listing brokerage enters the home (price, photos, description, showing instructions and so on) into the MLS® System.
3. Every member agent can find the home and show it to their buyers. The system is members-only, so the public cannot log in.
4. Part of the same information flows out to public sites such as REALTOR.ca and brokerage websites.
5. When a deal becomes firm, the transaction is recorded in the system, and these records are the basis of the monthly market statistics.

REALTOR.ca vs MLS®

REALTOR.ca is CREA’s listing site for consumers (since January 2025 run by REALTOR.ca Canada Inc., a subsidiary 100% owned by CREA). CREA describes it as an all-inclusive real estate portal where REALTORS® and consumers connect. Many people call it "the MLS", but strictly it is the public window onto MLS® information.

The full MLS® System is for member agents only, as TRREB states ("accessible to REALTORS® only"). Because the monthly statistics are built from firm transactions entered into the system, the sold history lives there too. So the usual way to learn what similar homes actually sold for is a comparative market analysis (CMA) that your agent pulls from the system.

MLS® listing, exclusive listing and mere posting

CREA explains that a brokerage may choose its own business model, such as exclusive, open or mere posting of MLS® listings, and that boards accept MLS® listings regardless of price or commission.

RECO notes that some sellers sign an agreement solely to have their property advertised on a local listing service, and that the agreement must still clearly state the services.

Can you trust the listing information?

• Under the Code of Ethics an agent must make best efforts to ensure that ads and statements are accurate and not misleading, and the law bans giving false information about a trade. But "best efforts" is not a guarantee.
• Do not rely on the listing alone for numbers such as square footage, taxes, condo fees or room sizes. Check the property tax bill, the status certificate for condo fees, and a survey or building plans for size.
• Photos and descriptions are marketing. Verify with a home inspection and your own visit.
• Advertising a home as "sold", or showing the sale price, requires the parties’ written consent (RECO Bulletin 5.4). That is one reason sold prices do not always appear on public sites.

The "MLS price" vs the sold price

The price on a listing is the seller’s asking price, not the market value. Some sellers price low on purpose to attract competing offers; others price high to leave room to negotiate. The real sold price is what is recorded as a firm transaction in the system.

TRREB’s Market Watch shows the relationship as the sale-to-list ratio, the average selling price divided by the average listing price. In October 2026 the GTA average selling price was $1,024,108. Judge a home’s value by recent sold prices of similar homes, not by its list price.

Market statistics come from MLS®

The "GTA sales", "average price" and "new listings" numbers in the news all come from MLS® System records. TRREB’s footnotes state that sales, dollar volume and average and median sale prices are based on firm transactions entered into the TRREB MLS® System during the month. For example, October 2026 had 5,603 sales and 14,173 new listings.

Deals that never go through MLS® (exclusive listings, private sales, pre-construction contracts) are not in these statistics. TRREB also notes that historic data changed when new boards joined the PropTx system, so be careful when comparing numbers with older reports.

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