Which of the following is a key characteristic of the MLS system?

A key characteristic of the MLS (Multiple Listing Service) system is collaboration between real estate professionals. The MLS provides a platform that enables agents and brokers to share information about properties for sale, fostering cooperation within the real estate community. This collaborative nature allows agents to assist each other in selling properties, increasing the pool of potential buyers and enhancing market efficiency.

By participating in an MLS, real estate professionals can access a shared database of listings, making it easier to find suitable properties for their clients while also helping sellers reach a broader audience. This system not only benefits agents by expanding their networks and outreach but also serves sellers and buyers by ensuring that a wider range of options is available in the market.

The other choices do not encapsulate the essence of the MLS as effectively. Exclusive listings are not a hallmark of MLS, as the system typically emphasizes inclusiveness, while access to proprietary market data, though useful, is not as foundational to the MLS's collaborative nature. Similarly, limited exposure contradicts the main objective of an MLS, which aims to maximize visibility of listings in the marketplace.