Description of online property updating
They agreed to compensate other brokers who helped sell those properties, and the first MLS was born, based on a fundamental principle that's unique to organized real estate: Help me sell my inventory and I'll help you sell yours.The term "MLS" is considered generic in the United States and cannot be trademarked or branded.
However, there is a data standard for MLS systems—the Real Estate Transaction Standard—which is being deployed across MLS solutions in North America.
Because it does not know the whole input, an online algorithm is forced to make decisions that may later turn out not to be optimal, and the study of online algorithms has focused on the quality of decision-making that is possible in this setting.
Competitive analysis formalizes this idea by comparing the relative performance of an online and offline algorithm for the same problem instance.
Local and private databases use XML-based data feeds to generate and update listings.
Listings disseminated through MLS may be controlled by a single association of realtors or groupings of associations which represent all brokers within a given community or area.Additionally, RPR provides access to up to 10 years of publicly recorded deed and mortgage history, and pre-foreclosure and foreclosure filings (in some states).