In the UK, Estate Agents only sell properties on their own books and buyers
have to contact different Estate Agents to view different properties. In the
USA buyers need only deal with one REALTOR®.
A REALTOR® is a Licensed Real Estate Agent who is also a member of the
National Association of Realtors. REALTORS® cooperate with each other, for
their clients' benefit, by using the on-line Multiple Listing Service (MLS)
system to list properties for sale and find properties for buyers.
Orlando Property UK's David Smith is qualified as a
REALTOR®
The Multiple Listing Service in the USA is a members-only, on-line, live
database of properties for sale which is owned and operated by realtors.
Each REALTOR® has access to all the properties for sale by the million-plus
realtors through the MLS - so buyers need only deal with one REALTOR®.
Not all Real Estate Agents are REALTORS®. Only REALTORS® have access to the Multiple Listing Service.
When a seller enters into a listing agreement with a REALTOR®, the property
will be listed on the MLS and becomes available to all fellow REALTORS® to
sell. The seller agrees to pay a commission upon sale of the property. If
the Listing Broker sells the property, he/she will earn the full amount of
the commission. If another REALTOR® brings a buyer, then the Listing Broker
will split the commission with the Selling Broker. The buyer will not pay
anything to the agent and will not pay any more for the property.