in other parts of the world.

Throughout Europe there is no unified Association of Realtors, and most European counties don't have an MLS system. In Germany many sellers list with multiple real estate brokers and often reserve the right to sell the home privately as well.

How would you like to list under these circumstances?

Buyers can only buy homes from the listing agents the homes are listed with and will end up looking at homes with various agents. Because the real estate market in Europe is less dynamic than in the U.S., it's not uncommon for homes to be listed for a year or more before they sell. Selling homes is also a lot more discreet. Signage, yardarms, directionals and flyer boxes are all but unheard of. Many homes for sale have no signs at all, while a few might have a small sign in a window.

Lockboxes? Open Houses? - Unheard of!

If this sounds difficult for the agents, it's no walk in the woods for buyers either. Many agents will require that buyers sign an agreement to pay the agent commission if they buy the home, before they give out any substantial information on a listing. Buyers will be charged between 3% and 4% commission, plus the tax on the commission. In addition they will have to pay a notary 1% of the purchase price to handle the sale documentation.

While american consumers think that the requirements to become a Realtor are a too low, in many countries one only needs a business license to be a real estate agent - no state licensing, no schooling, no testing.

By keeping the real estate market fairly open, yet regulated and by encouraging cooperation and client service, the U.S. has created a real estate business environment that is well balanced, dynamic and easy for all parties involved. 

Sandy Nelson
Olympia Realtor®, GRI, ASP, Built Green
360-789-7505
www.SandyNelsonRealEstate.com

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