The M.L.S. stands for the Multiple Listing Service. There over 900 MLS Services across the United States and the Chicago MLS is MRED LLC (formally MLSNI and MAP before merger to form MRED). It is the 3rd largest MLS system in the Country.
Are you looking to Get Listed on the MLS?
Berg Properties is a memeber of the MRED which covers the Chicago Metro area and all its suburbs throughout northern Illinois parts of central Illinois, some areas of Northern Indiana and Southern Wisconsin.
MLS systems were founded to help real estate agents list properties in a central repository so all REALTORS, regardless of the specific realty company they worked for, could collaborate and share listing information.
The MLS reduced market times and helped insure that REALTORS would get paid a commission if they found buyers for a property that another REALTOR had listed.
Traditional REALTORS charge anywhere from 3%-7% commission to market a property in Illinois. Commissions are negotiable. They split that amount with the buyer's broker. The most common commission offered to a buyers broker
(cooperating commission) in the Chicagoland area is 2.5% but commission amount varies from company to company and listing to listing.
The MLS has taken advantage of the internet by allowing consumer websites like Realtor.com, chicagotribune.com and other real estate type search engines pull information off the their system and post properties for sale nationwide to increase exposure.
The data relating to real estate for sale on this website comes in part from the Broker Reciprocity program of Midwest Real Estate Data LLC. Real Estate listings held by brokerage firms other than our company are marked with the MRED Broker Reciprocity logo or the Broker Reciprocity thumbnail logo (the MRED logo) and detailed information about them includes the names of the listing brokers. Some properties which appear for sale on this website may subsequently have sold and may no longer be available. The accuracy of all information, regardless of source, including but not limited to square footages and lot sizes, is deemed reliable but not guaranteed and should be personally verified through personal inspection by and/or with the appropriate professionals. The information being provided is for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing.
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