Obviously ILS will only work if it’s of benefit to Sellers and Buyers. Agents should always remember that if we’ve looked after our clients they will look after us.

A Seller has four choices: to either sell the property himself, give a sole mandate to the Agent of his choice, to place the property on the open market with a number of Agencies, and now as a fourth alternative to give the property to the Agent of his choice with instructions that the Agent markets the property to the other members of ILS

Before ILS, many Estate Agents often used to have to “bid” for a sole mandate by indicating to the Seller that he can get a better price than his “opposition”. In the short term the Seller enjoyed the “good news” and very often awarded the mandate to the agent who promised the highest price....

We all know that the market value is what a willing buyer will pay and we also know that Estate Agents generally know what that figure is! Now with ILS and the Agents Open Hour, Estate Agents give unbiased advice on the right

price because there is no fear of losing the mandate. This unbiased advice is invaluable to Sellers in setting the price to be asked.

In view of the fact that the Listing Agent will now be paid for his efforts whereas, in the past, Listing Agents never received anything unless they themselves sold the property, the Listing Agent, in conjunction with the other participants of ILS will price the property better using CMA’s and Agents Open Hours.

Due to properties being priced better and exposed to more Agents at once, the Seller will obviously be receiving quick, wide exposure of his property which will logically result in a faster sale.

It is a Seller’s nightmare to sell a home with Agent’s wanting to show Buyers through properties at the most inconvenient times. Because of the co-operation between Estate Agents with better pricing and quicker sales, the hazards that Sellers have been faced with in the past are reduced.

As Agents will have a bigger selection of properties to offer to potential Buyers, Buyers loyalty to the Agent will improve. Buyers will be able to see all the Agent’s comments on the Agent’s Open Hour Forms which will assist them in making an offer.

Estate Agents want three things with properties they have for sale and these three things are exactly the same as a Seller wants:

THE RIGHT PRICE

A QUICK SALE

THE LEAST HASSLES

ILS has enabled Agents to co-operate with one another, and gone are the days when Agents refer to other Estate Agents as competitors, they now refer to one another as colleagues. They now have more properties for sale and are therefore able to keep their Buyers for longer periods.

How Estate Agents ever fell into the trap of not being paid for their efforts, we will never know, but today, with ILS, Agents get paid for their effort in securing the stock, which also means that now they can take leave and be paid whilst away from their offices.

Because of the co-operation which now exists between Estate Agents, a Selling ILS Participant can call on the Listing ILS Participant for assistance when presenting the offer resulting in a sale for the Seller and commission to both the Listing and Selling ILS Participant.