I was wondering when a discussion like this would start and was thinking about starting it myself, except that I could never find the time to research it properly.
This discussion is likely to be a real earth mover so the first thing I intend to do is contact eyesonspain.com and invite them to join the SREF and participate, if they are not already members.
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The first mis conception is what MLS actually is. Multiple Listing is a form of Agency contract. The most common agency contracts that you may have come across in the UK are sole agency and open agency, where the vendor, (seller) enters into a contract with an agent to sell their property under various terms and conditions. In the same way, a Multiple Listing Agency contract gives the listing agent the right to market the property through other co-operating agents as well as to the public in general.
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I think that AMLASpain is confusing the issue here and citing MLS as a form of agency contract is misleading and the following better explains the function of MLS -
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The MLS service provider may charge a fee to the agent for use of its database and allowing them to list their properties on it, but does not charge any additional cost to any member of the public using the service. Any website or service provider that does this is acting in the capacity of an agent and should not be considered an MLS.
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Surley MLS is better described as
a listing (advertising) service for multiple estate agents, which provides potential buyers the opportunity of viewing
a large number of properties in the same area, from different agents and enquiries are
sent directly to the agent listing the property.
The issue does become complicated after this because -
- Sellers are inclined to engage more than one estate agent to market their property so that more than one agent could list it on the same MLS site.
- One agent, by agreement with another, may list the other's properties, once again causing a duplicated listing on an MLS site.
Apart from these complications, as I see it, it is as simple as that.
A Wikipedia Article explains -
"The MLS model in use today dates back to the 1960s when almost all brokers involved in transactions represented the seller"
"The MLS was intended to be a simple system that benefited everyone, including both the buyers and sellers."
"Today there are more than 800 MLS systems across the country and consolidation is inevitable. The drive towards the freedom of information has caused MLS to evolve into a consumer marketplace and a quasi public utility. That in turn has opened new competitors such as
Google Base,
Real Estate Valuations, Homes for Sale, Free Real Estate Information | Zillow Real Estate, and
Craigslist. Point2 NLS, Trulia, and Oodle are other examples of newer alternatives to the MLS service.
Facebook is also pursuing an interest in their own listing service with
Cribfinder."
"In certain European countries, most notably in Spain, MLS companies have started up in most of the popular vacation home destinations, including Costa del Sol, the Costa Brava, etc."
"Although there are currently no regulations in Europe in relation to MLS, it may be a matter of time before its use may be viewed as a restrictive practice designed to benefit real estate agents, rather than consumers."
Read the full Wikipedia Article. Quote:
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“Some MLS systems effectively add over 9% to the desired selling price of a property in Spain. That’s just outrageous. If I want 200,000 Euros for my property then on an MLS system it could effectively be listed at 218,000. 18,000 Euros in commission seems an awful lot of money!”
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Eyeonsapin.com have obviously got that one wrong as they cannot be talking about a boda fide MLS site.
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