All About the CANIBIR MLS System

“The Nicaragua MLS (Multiple Listing Service) is a platform of cooperation and settlement for real estate professionals, buyers and tenants of Nicaragua real estate properties. The MLS shows and shares detailed information about properties (financial, legal, features, size, location, etc) among agents representing the properties to better serve the public.

Real Estate professionals who join a MLS system have automatic listing agreements with every other member and therefore share everyone’s inventory. This allows for the proven advantage to anyone interested in obtaining real estate to effectively find one’s ideal property much faster than ever before.”

Issues in the Real Estate Market in Nicaragua

Examples of issues with open market for sale of property:

The owner also sells his property, direct competition to all agents
The agents take the property with many agents representing the same property
There is no cooperation between agents
Distrust among the agents
No reliable market information – history of value, volume, sales
There is no compensation for the work done
No communication by Seller when the property has sold or price change
There is no transparency between brokers/agents or buyers
Small countries like El Salvador want 2 MLS which will limit cooperation between agents
Basically we have a system of individualism

Benefits of a MLS System

Organized collection of exclusive property data
Detailed information of each property for sale
Improved current and past real estate market information
Agent can compare similar properties and give market information to clients
Have property data with competitive prices
No open market listings are allowed
The public see a professional group of real estate agents organized around rules that protect public interest
With MLS you have cooperation, transparency, compensation
The owner is represented exclusively by an Agent
Transparency in the real estate market
Appraisers and Banks can obtain data (they pay for this services) by city, department and country for a better comparison of the market, and valuation
The government sees how economic policies impact the real estate market, has clear market data
The Association has a means of communication with the public to report sales levels, number of properties for sale and establish if there are any market problems (supply and demand).