The Exchange markets new and second hand properties. Among the projects it is marketing are that of Minrav, near Israel Museum, Danirit in south-east Jerusalem and Eli Avrahami in Bayit Vegan.
The Jerusalem real estate Exchange, first of its kind in Israel, sold some 100 properties in its first three months of activity. "Globes" heard this from real estate agency Shiran, which operates the Exchange under the aegis of the Jerusalem Real Estate Brokers Bureau. The method was evolved in the United States, and is designed to assist brokers in the current market slump.
The Exchange operates as follows: eighty real estate agencies send to a computerised central data base information on properties they are offering for sale. The information is distributed to all Exchange members, who simultaneously refer purchasers to those properties. If there are several customers, they compete, through the Exchange, for the apartment. The broker who input the initial information keys in updates as to changes in the asking price. Once a contract is signed, the broker notifies all members, for their information, as to the transaction and the final price. Each broker receives a fee from its party.
The Exchange markets new and second hand properties. Among the projects it is marketing are that of Minrav, near Israel Museum, Danirit in south-east Jerusalem and Eli Avrahami in Bayit Vegan.
Published by Israel's Business Arena January 24, 1999