Mwendo.com

Broker Affiliates are a consortium of real estate brokers united together to promote openness in the marketing of real estate listings. All members support the principals of the Real Estate Transaction Standard (RETS), the Internet Data Exchange (IDX), and broker reciprocity. Together the organization plans to create an open, international real estate marketing service, called Mwendo.com, which works with local MLS associations and brokers to more effectively advertise property listings during this current market decline.

Launching Spring 2008, Mwendo.com is an upcoming international real estate listing service that transfers the majority of its listing fee to the new tenant/homebuyer as a cash reward.

For a home that is not selling quickly, rather than lowering the price in the MLS which signals to the public some potential issues may exist with the property, a Realtor may utilize Mwendo's patent pending reward process to indicate a willingness to offer a percentage discount reward after closing. Mwendo then incorporates the discount amount into its listing fee. The Realtor can then sell the home at the full list price while Mwendo provides the cash amount to the homebuyer after closing.

The benefit to the Realtor is that the MLS and his or her competitors are unaware the home was 'effectively' sold for less than the list price; housing prices can remain inflated within the MLS region; and the percentage discount may be written off as a tax-deductible marketing expense by the Realtor.

Though registered as a licensed real estate brokerage firm capable of executing transactions, Mwendo’s main purpose is assisting real estate professionals in marketing properties to the general public. In order to effectively meet this objective, Mwendo created the Broker Affiliate Program designed to maximize the reach and breadth of its services. Broker Affiliates are licensed real estate brokers charged with assisting Mwendo in:

3. Effectively marketing Mwendo’s services to local real estate agents and to the general public

As a Broker Affiliate, in exchange for accomplishing two or more of these objectives, Mwendo provides a share of revenue from your covered region or territory. Although most Broker Affiliates are independent brokers (i.e., run their own firm that is not a franchise), the program is open to any licensed real estate broker regardless of corporate affiliation*.

Types of Affiliates

Master Broker Affiliates

As a Master Broker Affiliate, you would register as principal broker of Mwendo in a given state and ensure Mwendo’s full compliance with state real estate laws. Additionally, you would promote the use of the service among real estate professionals and the general public. In exchange for doing so, you receive a percentage of revenue stemming from the entire state.

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Regional Broker Affiliates
In order to create the most comprehensive real estate listing service possible, as a Regional Broker Affiliate, you would work with local MLS associations to ensure Mwendo’s access to property listings and compliance with rules and regulations while encouraging fellow real estate professionals to register with Mwendo and to offer rewards with their listings. Additionally, you would promote the service to the general public via local print and online advertising. As payment, you are entitled to a percentage of revenue originating from your MLS territory.

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