Real Estate Information Network, Inc. is the Multiple Listing Service (MLS) for the Hampton Roads region, serving real estate professionals from Williamsburg, east to Norfolk/Virginia Beach and south to the North Carolina border.
An information exchange for and between real estate professionals, an MLS is an organization offering services to its licensed members for the purpose of facilitating real estate transactions. It is an agreement between competitors to share information under certain conditions. Based on the core principals of cooperation and compensation among members, an MLS 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. Buyers benefit because they can obtain information about all MLS-listed properties while working with only one broker.
REIN’s regional MLS database manages over 13,000 active listings for sale at any given time, 1,700 active rental listings and over 874,000 off market listings that can be used for research and comparables.
An independent MLS owned by broker stockholder members, REIN’s customers are the broker member firms and their real estate agents, appraiser members and affiliate businesses. Currently there are approximately 530 member firms, which represent more than 650 offices, 5,700 licensed agents and 150 appraiser members.