From: "JDavR" 
Newsgroups: misc.invest.real-estate
Subject: Re: Vegas MLS address restriction
Date: 31 Jul 2004 13:16:37 -0700

Mike -

As a Realtor in Vegas I will first tell you how the MLS system you are
using works.  Every (or almost) Realtor has a MLS portal that allows
the general property purchaser search for listings.  The reason for no
addresses is because if you get the address and can go to the property,
and if it is not the listing of the agent whos MLS protal you used is
listed on the sign then their expense of carrying the MLS protal is
wasted.  We do pay for this system and it is not cheap.  But yes the
system does have an option to display addresses.

In regards to the comments in the thread about saving the Selling
commission.  There are a few things that you - or maybe even everyone -
needs to understand.  The majorty of listing agreements are written
that X% of purchase price is paid.  It is regardless of if there are
one or ten agents in the mix.  So there would not be any "savings" in
knocking out one of the agents.  In addition in Nevada this is called a
dual agent.  Of course this can happen with the consent of both
parties.  If you as they buyer do not want this then you can have the
option of getting another agent or sign a waiver that you are
representing yourself.  However the full X% commission will be paid to
the Sellers agent.

Also, you have more leverage with YOUR own agent.  A listing agent has
access to Seller information (sometimes this includes reasons as to
sale, lowest price seller will take, etc).  Your own agent will be
working to get you the best deal without trying to keep his duty to the
Seller.

In regards to your A-B-C responses:
A - this creats a potential problem because you are asking that a
contract, created before you entered the picture be amended.  This is
the same type of thinking that is used when some agents present offers
and ask for more than the listed co-op commission. Commission
collection and distrubution is between Broker Offices and
Broker/Listing Agreements.

B.  If the Realtor/Agent abides by National/State and Board of Realtor
rules they will never put their financial interest above that of their
Client.  (I know this will create may comments, but I did state "If
they abide).  In addition, in Nevada, offers must be presented in order
received and if dealing with a dual agent they are not allowed to
disclose to you anything in regards to other offers.

C.  Once again it goes back to trying to alter a contract that you have
not cotrol over.


My best suggestion, find a good Buyers Broker, one that only deals with
Buyers, so they will not be pushing their listings.  They will spend
their time looking for what you tell them to.  You will not have to pay
them commission due to commission already being offered from the
Listing Agent. (make sure this is in the contract).

On the commercial real estate side I serve as Buyers Broker, my tag
line is One Agent to Contact, One Agent Contacting You.  What you need
to remember is when you start contacting individual listing agents,
they look at you as a potential client and will start searching for
other properties for you.  This starts with each listing agent and then
you start getting double, triple submissions of property (God forbid
you buy one and then have to go through five agents claiming they
presented you the property). etc, etc.

Also, remember the thinking of most Sellers.  They have a set purchase
price in mind and even though the way are you trying to purchase the
property would increase the bottom line, if you take the reductions you
seek and adjust the offer price, mentaly it will not click in their
head.

David

Mike Moore wrote:
> Hi,
>
> I need help figuring away around the vegas MLS monopoly.
>
> I'm an individual investor and I would like to put in my own bids, or
> use the Seller's agent to represent me (I fully understand the risks
> of this approach).
>
> The problem is that I have no way to identify the addresses of houses
> for sale in Las Vegas.  All the online sites (except for help-u-sell)
> do not list addresses.  They force you to get a realtor to represent
> you, which I don't want (I have more leverage without one).
> 
> Any suggestions?
> 
> Thanks,
> Mike
> wfservices@yahoo.com