MLS stands for Multiple Listing Service. Many people think of this as simply the pictures and information on a listing, and that is certainly a feature of a multiple listing service; it's technically an advertisement for compensation. Realtors in a geographic area agree to show and sell other realtor's listings in exchange for compensation.
BLC stands for Broker Listing Cooperative and is the name of the multiple listing service of MIBOR. Oh, no, another acronym...
MIBOR is the Metropolitan Indianapolis Board of Realtors. Realtors in the thirteen counties in central Indiana who join follow MIBOR's Code of Ethics and participate in the BLC, meaning they have access to detailed information on every home listed and sold by any other MIBOR member and agree to compensate and be compensated by the terms advertised in the BLC.
Not all realtors join MIBOR. Often, small, independent brokerages elect not to join MIBOR to save on membership dues, the downside being they lack the BLC's essential information and compensation agreements. Most area realtors however, belong to MIBOR and its MLS, the BLC. Alphabet soup, anyone?
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