Bahamas Real Estate Multiple Listing Service

The Bahamas Real Estate Multiple listing services (mls) are designed to have a one stop shop for buyer’s simplicity, speed and efficiency. In comparison to the open listing buyers have to approach different realtors, sellers, or investigate numerous media, to find there ideal property.

The advertiser loves the set up as a result of becoming a cash cow.  For example.  Most realtors in the Bahamas have all the same listings and advertise the same property in one media that appears several times with different prices and similar pictures. 

Sellers also have to put up with the grief and agony of dealing with 500 agents calling at different times every day.  As a result giving realtors a bad name and after a property is sold retaliating by not telling the realtor to take it off the market costing the realtor more adverting expense.  This approach leads to multiple signs being placed in front of properties and the seller repeating them selves over and over with the same info.

The mls is designed for listings to appear once and be listed with one realtor that will share the listing with other realtors and co broke the listing.  This reduces the commission received to the listing agent by sharing the commission. The result helps him sell the property faster for the seller and do more deals and in the long run should make more money and cut down advertising cost.

Currently, most realtors of the old school prefer to work alone and receive the entire commission rather than receiving half the commission and working with other realtors.

There are many reasons why realtors prefer to work alone.  Some have family members and want to keep it all in the family, some do not trust other realtors but mostly it is all about the money.

Here the Bahamas the realtors have progressed and formed an association in 1996,  they have many web sites, they are doing structured classes like cips, crs, become member of the nar,  taken on franchises and also appraisal courses. 

Before, if you wanted to become a realtor you could wake up one morning and put on a different hat and call yourself a realtor.  Times have changed now the association is organized and required a course approximates $1,000, which consist of a one week class and exam for entry level in addition to apprenticeship experience before one can work on there own.

All agents can still access the listings and copy pictures from the web site, print them off and share them with clients.

The old phrase united we stand divided we fall appears to apply here.  When ever a group research or work on a project together the results are faster as opposed to one agent or company working on there own.

Globalization, the Euro currency, the ftaa, and the internet bringing continents together through speed and ease in communication are the end result.  No man is an island.

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