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The launch of the Ghana Association of Real Estate Brokers (GAR) on Friday, 27th July 2018 at the GHL Bank forecourt saw the coming together of real estate stakeholders to celebrate what is envisioned to become the first association to regulate the real estate industry in Ghana. In view of this, meqasa.com will be working with the GAR to create the first and only Multiple Listing Service (MLS) in the country that will allow agents to better manage their portfolios and properties.
“The Multiple Listing Service is a one-stop shop for access to information for GAR members (brokers and agents) to make it easy for them to transact business, share information and also share properties with other agents. The MLS is a database where real estate agents and brokers have access to all listed properties on one platform. This means agents can market one another’s property in an effort to close more deals and share the commission among themselves.” Kelvin Nyame, CEO of Meqasa.com explains.
The emergence of the MLS makes it easy to track real estate brokerage business trends and helps potential property seekers save time, money and avoid stress since they do not have to deal with multiple agents. If you contact one agent using the MLS, you know there is a very high probability that you will get the property. This is also a great avenue for agents to work together and increase their leads since no individual agent has every available property in their portfolio.
According to Hanna Atiase, one of the co-founders of GAR, “The MLS provides exclusivity to brokers and agents more than an ordinary online platform.”
This is because it is regulated by rules set by the Management of GAR and Meqasa; additionally, it assures the public of credibility since every real estate professional using the platform is verified by GAR. This breeds trust among real estate agents and also between agents and property seekers – agents will trust one another with their property and seekers will have confidence in securing the services of any one member agent since each member shall have access to the entire database of all available property represented professionally in the country. The fact that property seekers would be dealing with a real estate professional who is worth their salt and accountable to a Regulatory Body (GAR) is an added advantage.” She said.
GAR aims to raise the profile of the real estate brokerage industry and establish guidelines for the professional conduct of brokers and agents in Ghana. The association’s mission is to protect the public interest in real estate brokerage transactions; to ensure that certified personnel are competent and morally fit to act as real estate professionals; to effectively administer, monitor and improve the quality of the certification examination and lastly to act in accordance with governmental entities and other recognised affiliations. This means that the MLS will not be accessible to the general public, it will be strictly limited to active GAR members.
Meqasa and GAR decided to create the MLS as an opportunity for seekers to avoid seeking information from the wrong people on the one hand and on the other hand, agents will not miss out on many deals as before because seekers will have confidence that their agent can find the property if it exists in the database. This makes every GAR member the right person to talk to about finding real estate.
GAR serves as the regulator in bringing like-minded people together in the real estate industry while Meqasa is responsible for building and maintaining the technology that allows agents to interact and share accurate information to prevent property duplicates and ensure that the right listings with the appropriate information are syndicated.
Meqasa shall also organise training courses for agents to understand how the MLS works and how to use it. The service will go a long way to solve basic real estate problems that the industry faces while expanding the business to increase future prospects.
The press event that commemorated the launch of the MLS was proudly sponsored by Koko King; Ghana’s leading breakfast food company.
The success and sustainability of the MLS is dependent on its recognition by stakeholders as a tool or service worth wholly embracing, abiding by the set rules and ensuring maximum effort is put into not only providing accurate information, but updating the records to reflect real-time changes in a timely manner. This shall require effort on all sides.