Craigslist, Kijiji and MLS Questions

1. Most here dont use those resources for rentals as they are not technically advanced enough. Rwntals online are almost all trageted at higher end tourist.

2. There is no MLS!!! Doesnt exist

Ok thanks Planner! Was just curious...

I understand honey!!!

Hello all, I know this thread is old but would just like to add that we do have an MLS property listings website now called MLS-Dominican.com which lists properties for sale and rent across the Dominican Republic.

Yes, I have seen some info about that.  I wonder how popular it is with realtors?

Can i say on here that i have property for sale ?

@john3333  Thanks for letting us know!! 

Hhhhmmmm. 

After looking at MLS-Dominican.com, I don't believe it is a Multiple Listing Service in the sense we're used to in the States, anyway.  As far as I can tell, it is really simply serving as a vehicle for advertising projects by developers, and advertising by realtors of some specific properties. 

There doesn't seem to be ANY price history information on properties (how much it sold for in the past).  I also don't see where it could serve to either identify or eliminate the practice of 'net listings' and gringo pricing.  thus, it really seems to be marketed to expats, and therefore has higher prices to begin with.

PLEASE...somebody prove me wrong here.  I'd LOVE to have a genuine MLS-like service in the DR, it would be my first go-to.  Other than the name, it just seems like another advertising vehicle taking on the color of an MLS, without including the most-useful features.

Jim

I would love to see it a true mls as well. 

Sharon - if you have a classified on this site then yes you can mention it and add a link

Hiw do i get a classified ?

I see a business opportunity here.   Pretty sure this can be done without much work to setup and run. 

@Chantsy Here in the DR, it's all a game, and it's all about money.  Someone will list their house for sale for an unreasonably high amount, and they will sit on that house for months or years, waiting for some sucker to come along.  It doesn't matter if they're continuing to put money into maintenance and upkeep.  That's not important.  They're just waiting for that one sucker.  An MLS database shows what has sold in the past in that area, which is how real estate agents get their negotiating power, right?  They find 3 similar properties in the same area that has sold within the last year, and use that as a baseline for negotiating the price.  Sellers don't want that here. They don't want potential buyers to know how ridiculously high their price is, how it's not even close to what the neighboring houses sold for.

The same goes for rentals.  Many people will list properties for rent on Facebook without saying the price, because they want to negotiate the price.  How much is the potential tenant willing to pay?  I see it all the time:  property listed for rent, no price; someone asks how much, the poster says to send a private message.  It's not about how much the property is worth per month, and how much similar properties are renting for.  Nope.  It's "how much are you willing to pay?"  Who will be the sucker.  It's all a game. 

An MLS or rent.com style site would limit the game-playing.  Things would be set, in public view, verifiable.  I would love to see those sites up and running with honest, reliable content.  But I don't see it happening because too many here are focused on the game and greed.  And it's unfortunate for those of us who don't like the games.

@SandyS_retired

All very true. The DR government is going to start making changes soon and our website will act as close to a true MLS site as possible.

I think in 5 years it will be a different landscape for realty in the North Coast.

Those listing at very high prices aren't really interested in selling.

An MLS or close would be a huge benefit.  I think it's the realtors who need to get on board.  Many need to understand that half of something is way better than all of nothing!

In Punta Cana (I dont know if its true in other areas) the broker gets paid ONE MONTH rent when they sign a tenant to a lease agreement.  YOU PAY THEIR COMMISSION because they make you pay 3 months upon signing.  You get two months back at the end of the lease, if there are no damages to the property.  If you leave early, the owner keeps the extra 2 months rent.  How nice for them. 

The higher the rent, the more the broker makes.  They want you to sign a one year contract because this is less work for them and it justifies their fees.  If you leave early, the owner ends up keeping the 2 extra months deposit. 

The broker represents both the owner and the tenant, therefore there is a conflict of interest. They usually block access to the owner and you only find out who they are in the contract after you have signed.  Therefore you cannot negotiate directly with the owner.   

@john3333

How do you know the government is making changes?

Yes the govt is making changes.  Bill has passed first reading.

Max 2 deposits. Both parties split contract fee.  Commission paid by the party that hired them!