The MLS system is defined by CREA as a?

• A. Mandatory registry of real estate listings.
• B. Voluntary real estate information service on properties available for purchase.
• C. Government-run database.
• D. Private network for brokers only.

Answer: (B)

MLS is a voluntary real estate information-sharing service that member boards and associations operate to pool listing data and help brokers cooperate in marketing properties. CREA defines it this way to reflect that participation is optional and that the system exists to share information about homes or properties for sale among licensed professionals, rather than being a government database or a mandatory registry. It isn’t a government-run repository, nor a private network exclusive to brokers, but a collaborative service used by REALTORS to connect buyers with available properties through member participation. That combination of voluntary participation and information sharing makes the description a voluntary real estate information service on properties available for purchase the best fit.