| Imagine this: you are interested in buying a piece | | | | trodden ground to sift through everything - not |
| of property in Costa Rica's southern zone, so you | | | | good. It may be that the buyer has developed a |
| walk into one of the real estate offices in say - | | | | sense of trust with one agent, and really doesn't |
| Uvita Costa Rica. You consult for awhile with an | | | | want to go through the whole process again with |
| agent there. (For the sake of this article, lets call | | | | someone else. This is not to mention that many |
| him "Rod") and off you go looking at properties | | | | buyers are in Costa Rica on vacation and they |
| that fit your interest. After looking at all that Rod | | | | simply don't have the time necessary to repeat |
| has to show you, nothing strikes you as the right | | | | the process numerous times. Seller's Problems: |
| piece So far not a lot of imagination has been | | | | Those poor sellers. Here is a checklist of how to |
| required. Here's where it gets a little more difficult. | | | | most effectively go about marketing a property |
| Rod says: "how 'bout we pop on down to this | | | | in Costa Rica southern Pacific zone. |
| other agency, some competitors of mine down | | | | |
| by Ojochal, and see what they've got" or "Let's | | | | 1. Print up a flier that explains the property. |
| go on up to an office of my peers in Dominical | | | | 2. Make a CD complete with photos of the |
| that's been around for years. They've probably | | | | property, the survey (plano), explain the water, |
| got a few listings that I don't have that may be a | | | | electric & access provisions and any fees |
| perfect fit". I know - hard to imagine, but stay | | | | pertaining to these services. |
| with me here. | | | | 3. Distribute the above to all the agencies in The |
| There is a fundamental change happening to the | | | | Zone. This is usually done by the seller personally |
| real estate market in Costa Rica's southern Pacific | | | | visiting each of the agencies and discussing their |
| zone that is making the above scenario a | | | | listing with someone there that will then hopefully, |
| common occurrence: that of the agencies working | | | | put it on their website, and share the information |
| together to provide a better service to both | | | | with everyone else in the office. |
| buyers and sellers. The motivation for this change | | | | 4. Visit the property with each of the listing |
| is, in part, thanks to the recession, and in part to | | | | agencies. |
| another thing called SPAR that I'll get to in a | | | | 5. Afterward - check the various agency web |
| minute. Back in the day when we realtors were all | | | | sites to make sure that their listing is there. |
| fat & sassy and buyers were beating our | | | | 6. Check in once a month or so to keep the |
| doors down, we didn't need each other. The | | | | various agents mindful of the listing. |
| challenge for the buyer back then was to find an | | | | 7. YUCK! |
| available agent that would help with finding a piece | | | | The ultimate solution to all this would be an MLS. |
| of land - everyone was busy. We each had our | | | | We don't foresee an MLS forming in the near |
| own listings, and there wasn't much need to share | | | | future. However, local real estate agencies are |
| a commission. The global economic crisis has | | | | moving in that direction. Just for fun, let's call it a |
| changed all this. The demands of a down market | | | | CLS system: "Cooperative Listing Service" There |
| have forced our collective hand and we are now | | | | is a shift of attitude that has taken place amongst |
| finding that we fare better through cooperation | | | | us real estate professionals. Many of us are now |
| than isolation. | | | | happy to share commissions with the other |
| The Non-MLS Marketplace: The real estate | | | | agencies - the feeling being that half of something |
| market in Costa Rica does not have an MLS or | | | | is better than all of nothing - this is in part due to |
| Multiple Listing Service. If you are coming from a | | | | the recession, and in part due to the fact that it is |
| country where the use of an MLS is common | | | | just good business. |
| practice, it may be difficult to understand the way | | | | What is SPAR? |
| things work in a non-MLS marketplace. The | | | | Short answer: Southern Pacific Association of |
| non-MLS business model in Costa Rica deprives | | | | Realtors. |
| both buyer and seller of a core function in the | | | | Long answer: The idea was originally promoted by |
| MLS model: REPRESENTATION. The real estate | | | | one of my associates in the real estate business |
| agent is tasked with caring for both sides of the | | | | who took the first steps to invite a group of the |
| deal - buyer & seller, while also being | | | | core real estate agencies to get together and |
| concerned about his/her own commission. Take a | | | | discuss the concerns of our industry. The |
| minute and think about some of the disclosure | | | | response has been very positive and SPAR was |
| concerns this might bring up. | | | | born. So far SPAR is an informal meeting of real |
| Buyer's Problems: When a buyer spends a day or | | | | estate agents in The Zone where important |
| two with a single realtor looking at property, they | | | | topics are discussed, and listings are shared. The |
| are seeing what that particular real estate agency | | | | potential of this organization to effect major |
| has for listings. To really know that they have | | | | improvements to the real estate industry |
| seen everything, a buyer would have to visit all of | | | | throughout The Zone is considerable. |
| the agencies, and probably go over already | | | | |