This episode takes us to Amsterdam, Netherlands.

The Netherlands covers a land area about the size of Maryland and has a population of about 17 million, similar to the state of New York. There are about 7,000 real estate agents in the Netherlands. (For comparison, the state of New York has about 130,000 agents.) 

In 2021, the average residential property cost approximately $475,000 USD. Like nearly everywhere else, the market is swift and inventory is low.

We ask Martijn to share how one would typically sell or buy a home, and how agents get paid. 

The Big Takeaways: Without an MLS, realtors are at the mercy of the portals. The main portal, Funda (funda.nl) is where the majority of buyers search for properties. Commissions average around 1% for listing agents, and buyers agents are slowly gaining in popularity, though they are paid separately. The average agent needs to sell 50+ homes annually to make a living, and it can take 4-12 months for a transaction to close and be paid out.

Food for thought: What would our market look like without the MLS and agent cooperation?