If we were to define culture, we would need quite some time. But think about this "fact"; "In the US and Canada, Multi Listing Systems support about Eighty percent of the private real estate market." Now would such a system provide similar performance in Spain? Such a question moves us into the area of culture. Some call it a system, other a service. A service is probably the most appropriate because you do not get to own what you buy. In fact it is a subscribers fee you pay to get connected to the system. The most important part of A Multi Listing System (MLS) is the database, like any significant sales method starts with collecting client data. The first step in selling the MLS is getting property data that is available in the market from real estate agents that intermediate between buyers and sellers. This is however a catch-22 situation. The MLS provider should collect as much as possible properties that are for sale, and with this collection (the central database) the value of the service increases. Yet how do you sell a system that is still empty. This is why the producers of an MLS originate from Real Estate Agents. Imagine that you are a stand alone real estate broker, with limited access to potential house sellers. Your business requires turnover, and therefore you need a significant number of property offerings to be a party for both buyers and sellers. The single real estate is not far from a catch-22 himself. A Multi Listing Service could fill in this potential demand. Yet, the sales of MLS is not skyrocketing in Spain. What seems to work in one culture shouldnt necessary provide the same success in another culture. Most important to know when dealing with these services is that the Spanish Property market is very competitive (in the meaning of not cooperative) without a common infrastructure; a lot of individual agents and not yet an incentive to cooperate with other agents. Selling property in Spain is more a win/loose activity; potential buyers loose if some other buyer decides earlier. Selling property in Spain is still a sellers game. Managing client relations has not (on average) been a real issue up to now. There were sufficient potential buyers. Ultimately this seems to change somehow. And that might be helpful for the Sales of a MLS. 2006 Hans Bool |
