The broker system: rated buyer- & seller-friendly
The question arises time and again as to how many brokers it makes sense to work with. The answer is quite simple: with one. Because this one agent is perfectly adequate, as he has access to all properties offered for sale. This is where the real estate and broker system differs drastically from that in Germany. The article explains why:
Every estate agent has his own sales commissions on offer, which he markets and tries to sell. If he acquires a buyer, the entire commission belongs to him: no difference so far. In the USA, however, it is generally the case that a broker can join a broker association by paying an additional annual fee. This means that he follows a fairly strict professional code.
A real estate agent is not a Realtor
By joining and being sworn in, the estate agent is then called a “Realtor”. This sets him apart from the “real estate agent”, i.e. the normal estate agent. By joining, they automatically gain access to the “Multiple Listing Service” (MLS) platform.
This listing platform is an enormously complex system that manages all listings in a region in a database and passes the information on to search engines and other websites. Every estate agent who receives a sales order from a customer naturally wants to bring it to a quick conclusion in the interests of the customer and also in their own interests.
This is where the difference to the procedure in Germany becomes apparent: he places the offer in the database and offers to give part of the commission – usually half – to the agent who brings a buyer. Since an estate agent would rather sell a property in a short time for half the commission than have it in his portfolio for an indefinite period of time, the majority of estate agents decide to place their offers in the database.
This means that every broker who has the MLS system can view the entire portfolio at any time and run automated evaluations for their customers. They also have a complete overview of the market.
A market overview versus dozens of websites
It is therefore also advisable to use the automated evaluations of the broker system and not to rely on information from dozens of websites. This information is sometimes incorrect or not up to date. Such users often fall behind in terms of time. In today’s market and with the mass of interested parties, being up to date is the first important step to getting your dream property.
With the reduced inventory currently on the market, speed can mean the difference between success and an accepted or rejected offer. It is therefore important to use the “mother” of all systems and websites, the so-called “MLS customer portal”.
The criteria for the evaluations are defined by the interested party at the beginning. These can also be changed at any time afterwards. Everything is done conveniently by e-mail on a website set up personally for the interested party.
Once the evaluation has been saved, the system sends an email up to twice a day with offers that have recently appeared and match the desired properties. Saved properties continue to be updated in a personal storage compartment, for example when prices are reduced or when the house is taken off the market or sold.
This also makes it easier to discuss properties with the dedicated estate agent, as both have access to the same data source. Above all, the customer receives all the information and details that the selling agent has stored in the system, whereas other websites largely only display an extract of the data. This means that the prospective buyer searches like an estate agent and has access to the same information.
To bring sellers and buyers together, everyone in America works together and is able to find or sell a property much faster. The Lee County network includes thousands of active agents who have potential buyers on their search list. There are virtually hundreds of thousands of prospective buyers and sellers in the MLS system. Nevertheless, if you only need one agent, he should be the right one. After all, he accompanies people in one of the biggest decisions of their lives.
This article does not constitute legal advice, but is for general information purposes only.
