THE ICIWORLD INFORMATION LISTING SERVICE
A Thought Is Not a Listing — But It Could Become Your Next Real Estate Transaction
One Question. One Thought. One Opportunity. Potentially One Successful Transaction.
By Gary Nusca, CCIM, CIPS
Founder, ICIWorld Association of Real Estate Brokers and Salespeople
Real Estate Broker Since 1974
Business @ the Speed of Thought — Applied to Real Estate
In 1999, Bill Gates published his book Business @ the Speed of Thought, exploring how the speed of information and technology could transform business.
That principle has always resonated with me.
Since launching ICIWorld on the Internet in 1994, we have worked to apply the power of information sharing to the real estate profession.
Our goal is to help licensed real estate brokers and salespeople discover, communicate, and act on real estate opportunities that might otherwise remain unknown.
And sometimes, the entire process begins with one simple question.
“Would you consider selling for the right price?”
The owner answers: “Yes, I would consider it.”
What Has Just Happened?
A thought has been expressed.
A possible real estate opportunity has been discovered.
But there is no signed listing agreement. There may be no asking price, no marketing authorization, and no definite decision to sell.
That thought is not a listing. It is information.
And information, when properly shared, may be of considerable value to another real estate professional who has a qualified buyer.
This is the distinction that inspired the development of ICIWorld’s Information Listing Service (ILS), designed to operate alongside MLS®.
From a Thought to a Potential Transaction
A broker or salesperson speaks with a property or business owner and asks whether they would consider selling for the right price.
The owner expresses possible interest. A potential opportunity exists, even though there is no formal listing.
With the necessary permissions and in compliance with applicable rules, the salesperson can share a general, non-identifying description of the potential opportunity through ICIWorld.
Other brokers and salespeople may discover the information, make inquiries, and indicate whether they have interested buyers.
The professionals determine whether there is genuine buyer interest and whether the buyer has the capability to proceed.
Obtain the required owner authorization, listing or representation agreements, disclosures, and other documentation before conducting activities that require them, including identifying or showing the property.
The parties may proceed with a showing, offers, negotiations, and a successful transaction.
And to think — it all started with a thought!
A Real-Life Example: The Dentist
One of our most memorable examples involves a residential real estate salesperson who asked a dentist whether he would consider selling his practice for the right price.
The dentist indicated that he would consider selling, but did not initially want to sign a listing agreement.
Through ICIWorld networking, the salesperson found another broker with a potential buyer.
The necessary arrangements and agreements were made, the parties were introduced, and the transaction was successfully completed.
According to the account shared with us, each participating broker earned approximately $25,000 in commission, with the transaction closing within about 90 days.
One question uncovered an opportunity that might never have appeared on MLS®.
And the person who discovered that opportunity was a residential salesperson.
What Every Residential Salesperson Should Understand
You do not necessarily have to become a specialist in commercial real estate to benefit from discovering commercial opportunities.
Think of the business owners, investors, doctors, dentists, retailers, and other professionals you already know.
Some may be considering buying or selling commercial property or businesses.
By asking appropriate questions, you may discover information that can be shared with an experienced commercial real estate broker.
Depending on the circumstances, you may be able to cooperate in a transaction or arrange a referral, subject to applicable licensing, brokerage, and compensation requirements.
Sometimes a commercial real estate referral fee can be larger than a commission earned on a residential transaction.
The important lesson is to recognize the opportunity and work with qualified professionals.
Why an Information Listing Service Is Different From MLS®
MLS® Shares Listings.
ICIWorld’s ILS Shares Opportunities.
MLS® is an essential service for marketing real estate listings.
But not every potential buyer or seller has entered into a formal listing or representation agreement.
Some owners may consider selling for the right price. Some buyers have specific requirements that other professionals do not know about.
ICIWorld provides a networking system for properly sharing this type of information, along with listings and other Haves and Wants.
The two systems can complement one another while respecting the applicable rules governing authorization, confidentiality, advertising, and MLS® cooperation.
Where Artificial Intelligence Fits In
Today, artificial intelligence offers another exciting possibility.
Members have told us that customers using AI-assisted real estate searches have received results that reference ICIWorld information.
That is encouraging because it creates another potential way for publicly accessible member information to be discovered.
But we must understand the distinction.
AI did not ask the owner whether they would consider selling.
AI did not create the opportunity.
The real estate professional discovered the information. ICIWorld provided a place to organize and share it. AI-assisted search may help other people find publicly accessible information.
AI search exposure is not guaranteed, and confidential information must remain protected.
The real business is still conducted by people.
What Opportunities Could You Discover Today?
Start by asking questions.
Discover potential Haves and Wants.
Share appropriate information through ICIWorld.
Network with other real estate professionals locally and globally.
Never overlook the business opportunity that may begin with one simple thought.
A Personal Thought From the Founder
After more than 50 years in real estate, I remain convinced that one of the greatest untapped resources in our industry is the information brokers and salespeople discover through their everyday conversations.
My hope is that more real estate professionals will learn to recognize these opportunities and use ICIWorld’s Information Listing Service to help connect buyers, sellers, and cooperating brokers throughout the world.
One question. One thought. One connection. One possible transaction.
That is Business @ the Speed of Thought applied to real estate.
Gary Nusca, CCIM, CIPS
Founder, ICIWorld Association of Real Estate Brokers and Salespeople
Real Estate Broker Since 1974
ICIWorld.com
Educational information only. Opportunities and commissions are not guaranteed. Brokers and salespeople must follow applicable real estate laws, advertising rules, owner authorization requirements, brokerage policies, and professional obligations. Historical transaction examples do not guarantee similar results.