A Los Angeles-based referral site with more than 200,000 overseas property listings is expanding into the U.S., with exclusive partners in seven states so far.
The International Multiple Listing Service (IMLS) calls itself a “commission share platform” that offers all agents and brokers a free, unbranded search widget for their websites.
The IMLS tracks when a search through the widget leads to a sale, and takes a referral fee from the listing broker. IMLS then shares the referral fee with the agent who placed the widget on his or her website.
“Everything is tracked, and no work is required by the agent with The IMLS search to earn a share of the commissions,” said Daniel Nussbaum, founder and CEO of The International Realty Inc., which created IMLS. “You cannot drive a client to Italy or write the agreement. The Italian agent cannot drive to your area and write an agreement.”
Screen shot of IMLS search widget on Real Living Five Corners website.
Agents and brokers can prevent listings in their own market from appearing in the widget’s search results in order to complement agents’ own Internet Data Exchange (IDX) property search, he said.