Common terms used in Real Estate & MLS systems
iHomeFinder: is our partner who keeps all MLS data up to date and flowing between our solution and their local MLS. We pay iHomeFinder’s fees out of the quoted fees in our agreement.
Optima / IDX Search: is the plugin we use to integrate MLS data.
Affiliated Association: Any Association or Board of REALTORS® that purchases Multiple Listing Services from the MLS for resale to its members.
Agent: The real estate licensee who is affiliated with a firm that holds membership in the (LOCAL) Association of REALTORS Multiple Listing Service.
Consultant: Any party retained by the (LOCAL) Association of REALTORS®, Inc. Multiple Listing Service, its member firms or affiliated agents for the purpose of facilitating the display of IDX Data on their web sites.
Firm: The real estate brokerage firm or appraisal company that holds membership in the (LOCAL) Association of REALTORS®, Inc. Multiple Listing Service.
Internet Data Exchange Database or IDX Data: The current aggregate compilation of all active exclusive right to sell listings of all Internet Data Exchange Subscribers except those listings where the property seller has opted out of Internet publication by so indicating on the listing contract. The (LOCAL) Association of REALTORS®, Inc. owns the IDX data.
Internet Data Exchange Subscriber or IDX Subscriber: A Subscriber who gives permission to other Subscribers to display its active listings on their web sites in return for their permission to advertise their listings on its web site.
Multiple Listing Service: A means of collecting and disseminating information about real property that is or has been for sale, including a means for real estate brokers to make offers of cooperation and compensation to each other. Multiple Listing Services may also include, without limitation, the provision of data processing, technical support, consulting, and other information technology services to real estate brokers and appraisers in connection with the sale and appraisal of real property.
Rules: The Rules and Regulations of the MLS as amended from time to time, and any operating policies relating to the IDX Data and IDX Subscribers promulgated by the MLS.
Subscriber: Any real estate broker, appraiser, or other real estate related business professional that purchases Multiple Listing Services from the MLS.
Subscriber Data: Data relating to real estate for sale, previously sold or listed for sale, including the Internet Data Exchange Database, and data relating to Subscribers entered into the MLS System by Subscribers and the MLS. The (LOCAL) Association of REALTORS®, Inc. owns the Subscriber Data.