A multiple listing service (MLS) is the standard system used by real estate brokers throughout developed countries to facilitate real estate buying and selling for their clients. Investors, retirees, or buyers searching for properties in Costa Rica via the web encounter multiple websites claiming to be an MLS. While many companies and even real estate associations in Costa Rica represent themselves to provide an MLS, the fact is, there is no true MLS in Costa Rica. So, how can it be? How can someone represent themselves to be an MLS, when they are not? What really makes a true Costa Rica real estate MLS?
Let’s start with the generally accepted definition of a MLS. Investopedia.com defines an MLS to be “A service provided by a group of real estate brokers. They band together to create a Multiple Listing Service that allows each of them to list each other's houses. Under this arrangement, the listing broker and the selling broker split the commission for each sale.”
The Costa Rica real estate market is not legislated like it is in developed countries. Brokers in Costa Rica are not required to have a license to represent buyers and sellers and receive real estate commissions. The term “Multiple Listing Service (MLS)” is not copyrighted. The term is treated like any other generic word (ie: milk). There are 3 different real estate associations in Costa Rica, all with their own band of brokers and set of rules.
Is there something close to an MLS in Costa Rica?
The only way to get close to the benefits of an MLS is to find a broker who is a member of professional associations and actively works with other brokers to market each others’ properties in Costa Rica. If your broker cannot offer you any properties listed by another agency, you are not working in your best interest. Coldwell Banker Vesta Group Dominical is the leader in broker cooperation. We will show you all the properties, not just our own listings. We know by finding the right property (whether we list it or not) is in the best interest of our clients and will benefit us in the long-term. We work hard to provide the type of services and variety of inventory you expect.
Our team of seasoned brokers has the largest network of relationships and cooperation in Dominical, Manuel Antonio, Jaco, Uvita, Pavones, Perez Zeledon, Escazu, Santa Ana, Tamarindo, and throughout Costa Rica. If you’re looking for a house for sale in Costa Rica, look no further. We will find the right property in Costa Rica by using our extensive Costa Rica network of relationships with other brokers.
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