What is the MLS?

Like many other industries, the real estate industry is full of its own jargon, abbreviations and acronyms. One of the most common acronyms buyers run across is MLS, which stands for Multiple Listing Service. Basically, an MLS is a huge database of the listings, past and present, in a certain geographic area.

Here in metropolitan Indianapolis, the MLS is known as the BLC, or Broker Listing Cooperative, and gives Indianapolis-area real estate agents access to all the current and past listings in the area. The BLC is the first place agents turn to when searching for homes for buyers and where they list their sellers’ homes for sale. Each property entered in the BLC receives a unique BLC number, so that properties can be searched via an address of that BLC number.

When you are looking at homes, most agents will provide the BLC page to go with each house. That BLC page offers all kinds of information on that particular listing but can also be somewhat confusing because of all the acronyms and abbreviations. Here’s a quick overview of what information is included on a BLC sheet:

Property Location: The top portion of the BLC sheet lists where the property is located and includes physical address, subdivision, township and even longitude and latitude.

Tax Information: The BLC includes the property’s tax ID, semi-annual tax amount, tax exemptions filed on the property and tax year.

Property Details: Most of the BLC page is dedicated to property details including square footage, room dimensions, number of rooms and property features. The BLC includes a brief property description that mentions all the property’s highlights, as well as a section that offers more in-depth information on the property. The description section offers master bedroom features, appliances included with the home and interior and exterior amenities.

Utilities: Each agent includes utility information on the BLC, including the types of heating and cooling systems and sewage and water information.

For more information on the BLC and its features, visit www.blc.com.