The OpenBrix portal is getting set to launch and will be attempting to introduce a form of multi-listing system (MLS) to the U.K.
The MLS is a long-established arrangement in the U.S.A. and is utilised by the overwhelming majority of agents. In simple terms, an agent with an instruction puts it on the MLS and any agent with a buyer is then able to arrange a viewing. If a deal is done the listing agent will share their commission with the agent who introduced the buyer.
In the past we have had referral systems that have been operated by agency groups and trade bodies in the U.K. The NAEA had such a system to enable members to refer business to one another. But there has never been anything to replicate the MLS from the States.
Russell Quirk, with his Properganda PR hat on and representing OpenBrix, has held a half-hour, cross-atlantic Zoom interview with US realtor Matt Fetick, who spoke about how MLS really works, and his views on the OpenBrix plans.
Fetick is the owner of two Keller Williams market centres in Delaware and Maryland and is a successful real estate agent in his own right.
Quirk asked a number of questions around what MLS actually is, how it works, and if it will work over here.
What Fetick says is very interesting and does shed light on how MLS could work in the U.K. but whether OpenBrix can persuade a critical mass of agents to get behind the idea very much remains to be seen.
We think you will find the instructive video well worth watching – and it really isn’t too much of a sales pitch for OpenBrix.
We shall be interested in readers’ comments about MLS and whether they will consider using it.