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What is the Chicago MLS?
The MRED LLC serves the Chicago area and its surrounding suburbs. It is a database of real estate for sale used by Realtors. MRED LLC is directly accessible to real estate agents and those with professional affiliations. The properties in the Chicago MLS are provided by brokers who are members of the National Association of Realtors (NAR) and registered members of the MLS system.
The Chicago MLS is most widely used to locate residential properties on the market. These include attached and detached single-family homes, multi-unit residences, mobile homes, rentals and vacant land in Chicago and nearby suburbs. Commercial property listed on the Chicago MLS includes office, retail, industrial, mixed use and other real estate zoned for business space.
In addition to storing listing information, the Chicago MLS database has a search engine function. This is used to find MLS listings that fit specific search parameters. Parameters are set by the individual user and results are displayed in list form with links to more details on separate property pages. The search engine functionality is accessible to registered members online. Non-member users (such as home buyers) are able to access Chicago MLS information through certain real estate websites that pull data from the MLS. To comply with MLS regulations, any real estate site that provides data from the Multiple Listing Service is required to uphold strict user registration policies.
Where is the MLS used?
There are several individually run MLS databases used across the country and in Canada that make up the entire MLS system. Each MLS database serves a particular geographical area and is operated by a designated group of Realtors or real estate organization. Specific MLS areas in the U.S. include:
- MRED LLC (serves Chicagoland)
- Metropolitan Regional Information Systems (serves Washington D.C. and surrounding areas)
- Southern California MLS
- South East Florida Regional MLS
- First MLS (serves Georgia/Southeast region)
- Arizona Regional MLS
- Georgia MLS
- MLS Property Information Network (serves Massachusetts/New England)
- TREND (Metro Philadelphia)
Canada’s MLS system is used by all members of the Canadian Real Estate Association (CREA) and serves as the main property listings database for the whole country.
What type of information do Chicago MLS listings contain?
The amount of information provided by a particular Chicago MLS listing will vary depending on what the listing agent enters for the individual property. Price, address, number of bedrooms and bathrooms, and listing status are considered essential data that is almost always included in an MLS listing. Additional details found in Chicago MLS listings include, but are not limited to:
- The type of property
- Year built or renovated
- Tax and assessment amounts
- Market time in # of days
- Zip code, city and county
- Number of units (in the case of an attached property)
- Square footage
- Room dimensions and features
- Lot size and characteristics
- Number of stories (in the case of a detached property)
- Garage or Parking availability
- Agent remarks and written descriptions
Chicago MLS listings also contain photos, virtual tours and interactive maps locating the property address. The name and contact info of the listing or representing agent is also provided on the Chicago MLS listing.