Recently I was asked an interesting question about the difference between an MLS vs Exclusive listing. Below, I will try and differentiate between the two for you.
The MLS — also a multiple listing system or multiple listings service — is a platform where properties for sale and rent can be listed and viewed by all participating brokers. Here, the commission is split between the listing brokerage and the brokerage whose client eventually purchases the property. This is a particularly useful and most widely used tool for realtors who deal with residential properties, and for those who do not have a large personal portfolio of clients.
An Exclusive Listing, on the other hand, is one which is not published on the MLS; this sort of listing is maintained as the agents personal listing which s/he then sells to a client of their own.
These sort of listings can be extremely beneficial when it comes to commercial real estate since the seller has an opportunity to save on commission here, having only to pay one agent as opposed to two. Exclusive listings, however, tend to work for well established realtors who not only specialize in the property in question but also maintain a large roster of clients who are interested in the said property.