Real Estate Information Network, Inc. is the Multiple Listing Service (MLS) for the Hampton Roads region. An information exchange for and between real estate professionals, a MLS is an organization offering services to its licensed members for the purpose of facilitating real estate transactions. As a basic definition, a MLS is an agreement between competitors to share information based on the core principal of cooperation and compensation between members.
As the Hampton Roads area MLS, REIN maintains a database that collects and disseminates listing information on properties. The MLS is used by listing brokers to widely share information about properties with other brokers who may represent or know of potential buyers for the property, thereby benefiting both the buying and selling public. Sellers benefit by increased exposure to their property, and buyers benefit because they can obtain information about all MLS-listed properties while working with only one broker.