Boris Geheniau has been the director of marketing company Fundament All Media for 20 years. His company specializes in marketing for real estate agents and new builds. From corporate websites to magazine layouts, no goal is too crazy for their team.
Boris joins us in the latest episode of the Inman Show to share how agents work in the Netherlands.
He shares that they have a strong central brokerage called the NVM that is comparable to America’s NARC Association. With 80 to 90% market share, nearly all of the property in the Netherlands goes through the brokerage. All of their inventory is centralized, which allows agents to take their inventory out and publish it on their own websites and papers.
Agents in the Netherlands are only allowed to represent the buyer or represent the seller in the transaction. They cannot work for both at the same time. Commission structures are also different since it’s not a split like in the US or the UK. They only get a flat fee of 1.3 to 1.7%.
Interestingly, agents usually only work for sellers.
Marketing in the Netherlands is mostly done online on a central website and through the newspapers. As the market is regulated, sellers are also the ones who are more likely to contact agents first rather than the other way around.