Aqarmap launches exchange: Egypt's Real Estate MLS

Aqarmap.com, the leading Online Real Estate marketplace in Egypt has just released “Exchange”, a local answer to the MLS system that is heavily used in the US real estate market.

Amad Almsaodi, CEO and Founder of Aqarmap stated: “Unlike the US market where Real Estate brokers and agents exchange listings information via the MLS databases, developing markets suffer from extreme inefficiencies due to the lack of collaboration between brokers. This typically results in missed opportunities and properties remaining offered on the market for longer periods of time. Brokers in markets like Egypt protect their listings information due to the lack of exclusivity contracts, which are the standard in markets like the US. This challenge was the source of inspiration behind Aqarmap Exchange.”