The Government’s Role in Bilateral Trade: Why Trust, Data, and Transparency Matter More Than Ever

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Real estate doesn’t exist in a vacuum. It sits at the intersection of people, capital, policy, and trust — which is exactly why governments play such a critical role in enabling bilateral trade and cross‑border investment.

That was the central theme of this International MLS Forum panel, featuring insights from:

• Kat Newell, VP, Business Innovation, Greater Vancouver REALTORS®

• Karolina Konicarova, Director of Canadian Operations, CzechInvest

• Ilze Lacgalve, Head of the Representative Office in Canada, Investment and Development Agency of Latvia

Together, they unpacked how countries without traditional MLS systems still create transparency, protect investors, and unlock international opportunity — often in ways North America can learn from.

When There’s No MLS, What Creates Trust?

In North America, we’re accustomed to structured MLS systems that centralize data, ensure accountability, and feed consumer portals. But as the panel made clear, this is not the global norm.

In many European markets, trust is built differently — through government‑led registries, public data access, and national investment agencies acting as neutral connectors.

Rather than one centralized MLS, countries like Czechia and Latvia rely on interconnected datasets:

• Land and cadastral registries

• Company ownership databases

• Public records on liens, encumbrances, and legal rights

• Mandatory registrations tied directly to law and regulation

The result? In some cases, more transparency than MLS‑driven markets, just organized in a different way.

Government as a Market Enabler — Not a Bottleneck

Both CzechInvest and the Investment and Development Agency of Latvia emphasized their role as one‑stop, no‑cost partners for international investors.

Their mandate isn’t sales — it’s facilitation:

• Helping investors understand local markets

• Connecting them with reliable data sources

• Navigating regulation, taxation, and incentives

• Introducing trusted local partners

And importantly, they stay involved even after investments are made, ensuring long‑term success rather than short‑term transactions.

Why These Markets Are Turning Heads

Several themes stood out as competitive advantages for Central and Eastern Europe:

🔹 Deep Data Transparency

Public access to ownership, company records, and land registries — often down to granular detail — creates confidence for cross‑border investors.

🔹 Fast‑Moving, Flexible Systems

Smaller countries move faster. Policy feedback loops are shorter, bureaucracy is lighter, and governments are more willing to adapt regulations to enable development.

🔹 Undervalued Real Estate

Compared to Western Europe, markets like Latvia and Czechia remain significantly undervalued, offering strong upside potential.

🔹 Incentives That Matter

From canceled real estate transfer taxes to special economic zones with tax reductions of up to 80%, governments are actively competing for global capital.

Bilateral Trade Goes Both Ways

This isn’t just about North American investors going to Europe.

Czech and Latvian companies — including proptech platforms, MLS technologies, developers, and family offices — are actively expanding into Canada and the United States, bringing capital, innovation, and new business models with them.

Bilateral trade works best when:

• Information flows in both directions

• Standards are understood, even if systems differ

• Trust is institutional, not just transactional

The Big Takeaway

Where MLS systems don’t exist, governments often step in to fill the trust gap — not by replacing the market, but by enabling it.

Through transparency, accessible data, and active investor support, countries like Czechia and Latvia are proving that:

• Trust doesn’t require one single system

• Data doesn’t need to look familiar to be reliable

• And opportunity often lives where we least expect it

For global real estate professionals, the message is clear: don’t confuse “different” with “less developed.” Some of the most compelling investment stories are happening in markets willing to move faster, share more data, and collaborate across borders.