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Are You "Selling" the MLS?

Let me begin by saying that I'm relocated from Colorado to NY, so am (while not in a fetal position anymore) still perplexed with east end Long Island real estate sometimes- six and one half years later.

In my area of Long Island (the east end), it is often spoken that some sellers prefer to have an "exclusive" listing, as opposed to a listing placed in the area MLS. It is, according to the real estate people (I can't say "Realtor"- I pay for the moniker. They do too, but somehow, it isn't working for my dues), "what the sellers want."

As much thought as I've given this, my inherent dislike boils down to this: in addition to being a detriment to the best interest of the seller, it is an undermining of Realtors in way that is deeply offensive.

When a Realtor sells the benefits of the MLS, they are selling the benefit of the real estate community as a WHOLE. Frankly, in the current environment, this seems like a good objective.

My area is adjacent to one in which listings are not entered into the MLS- the majority are not there.

For the life of me, I can't figure out how the word, or concept, "exclusive" is in any way a connection to "sell my house." Do sellers really say, "Please, I don't want other real estate people with buyers in- but get me this price- but do it with just a few other agents, not too many, OK?" ??

In the absence of an MLS, we'd all manage, but in this market, is now the time for consumers?

Sellers...or buyers (no readily available comp info)???

"Selling" the MLS is encouraging the seller to engage with a real estate community anxious to sell their home- simple.

Posted by Laurie Mindnich North fork Long Island Real Estate on 02/07/2009 05:40 PM

Comments (22)

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22 Comments on Are You "Selling" the MLS?

FEB

Laurie, You are certainly in a strange market. I can't see any advantage at all for the seller to not have their property listed in the MLS. Are they paying less commission? Is it a subagency thing?

I was just headed over to TLW's blog- kismet! Strange is a kind word. No, and no. Evidently, you don't have the answer, but neither do I!! :)

Laurie - Not encouraging sellers to list in the MLS I suspect is self serving on the part of agents. Show me where it is in the best interest of the seller not to engage with the rest of the real estate community?

Jennifer, there are so many great Realtors out there- for the life of me, I can't understand the limitations. I am certain, however, that at some point in time (six and a half years isn't that long) that someone will offer something that makes a modicum of sense. So far, nada. *edit: I'm actually still stunned that it isn't assumed by the real estate community and sellers- since when is an offer by an agent problematic for a seller, irrespective of their location?

The MLS is a goldmine for sellers, and Realtors- until some better way to provide "casting the widest net" comes along, why deter it??

Seems strange, even archaic, or elitist! Not sure which, but probably all...and how does that scenario work in the sellers best interest? Or is is a way of (God forbid) discriminating without being caught at it?

PAT, DID YOU MOVE FROM THE EAST END OF LONG ISLAND TO MILWAUKEE?? That is awfully insightful of you- took me years!

I will reluctantly accept one seller out of 100 who doesn't want to sell, but wants to "test" the market- but if that's the case with an entire area, something seems wrong with this picture (or, I'm unenlightened).

I've found there are only a couple times when a property should not be in MLS.

High profile home or individual needing privacy
Selfish agent looking out for their own interest only

Laurie, somthing doesn't smell right with this post. Sorry to hear that this is going on and agree 100% that unless there is something you are not aware of that makes this dramatically different the sellers are really not benefiting. I wonder how it is "marketed' to them in the first place? This maybe your breakthrough opportunity in this area to get sellers educated as you take listings and then actually have good market analysis to back up price, get them sold, etc. You go girl!

Susan, the area in question has both, with the majority NOT falling into the "high profile", but finding themselves victims to the mentality. Thank you- I appreciate the (accurate) thought offered!!

Kelly, if you had any idea how much I miss the attitude in Colorado, let me tell you right this second:

THANK YOU!!!!!

FEB

Hey, Laurie. Good post. The sellers are not stupid and the real estate community does not control the information the seller reads or knows from prior areas they have lived in or from the internet. So, the thing is, what is it that the sellers are being told about selling real estate out there - what is the inside stuff they are being told about the MLS that gets them to do an "exclusive". A little detective work, please.

Hey, Miriam! Just maintaining squeaky wheel status- but also suggesting that the damage done by foregoing the MLS in a single area does some damage to the real estate community overall that is not considered by the "perps". There's something to be said, while presenting options for a seller, for adding value to the real estate community while at the same time providing full exposure- it's an easy "sell", if the issue with agents is that sellers are saying, "we don't want it"...ASSUMING that that is the case...a stretch, for sure.

We have a few offices in my market that are non-MLS. One of them often runs newspaper ads to attempt to point out that he has the majority of the listings and is not MLS. Which is not actually true but to attack back is not productive, as the truth is he is loosing market share to the MLS offices. So my advise is to keep positive because the majority of home owners don't care which agent sells the home as long as it get sold.

Laurie, I've tried--I don't understand NY real estate and honestly, it doesn't work for me. I KNOW you need a buyers agent here (just came from a consultation where the crawl space leaks---she brought through a dual agency and they said the homeowner didn't know!). Also the home on my block went up for sale...not an exclusive but a company I've never heard of. I went to the MLSLI to look at the price--it's not listed. I wonder WHAT is going on!

Mary, agreed- IF the majority of agents know that it's for sale! I respect a companies right to forego the mls- just not "selectively", based on a large area, and in "group" form. Thank you!!

Carole, it's getting much better in many areas of NY- that you have awareness is the key. People like you will force changes that treat buyers and sellers with baseline respect - once that kind of integrity is "standard fare", it's then possible to jump to a higher level, as some areas of NY already have. It's just unfortunate that consumers have to force it out this way. Dual agency is a non-agency- just a bobbing head that's trying to stay out of trouble. *opinion*

FEB

Laurie - With over 7,500 agents in my area who all make their living selling Real Estate, it's unfathomable to think a seller would not want their home marketed on the MLS. Not only does their home show up to agents who might have a buyer, it shows up on Realtor.com and dozens of other Real Estate web sites. I understand a "high profile" seller not wanting their listing broadcasted to the world, but in this market us "regular Joes" NEED the benefits of the MLS to aid in the marketing of their home.

Hey, Craig- I think that I saw that there are 22,000 real estate agents on Long Island- we're in a "vacation" spot, so many from 'up" island consider second homes here. Their Realtors have great difficulty when an mls is absent collecting properties and data (time on market, etc.). Indeed, with many buyers and sellers falling into the "regular Joe" category, it's pretty reprehensible! Thanks- except these "Realtors" involved do broadcast many of the high profile listings on Zillow, etc., so they are available to the public, just not with info needed by Realtors. Not a good message to be sending!

Laurie, I just emailed you on this--goodness, I don't understand why they are NOT listed! Isn't that the way most people begin their search, on the internet? That house put up a for sale sign over two weeks ago and it's not on the MLS. And not high profile.

FEB

Hey, Carole- let me know what help you need. I emailed the disclosure.

You might ask your neighbor if they are aware that their house isn't on the mls- sometimes, the sellers have no idea. It could be, too, that this company isn't part of the MLS, and they relayed this to the seller- the seller could be OK with it (some sellers aren't as motivated as others). You might head directly to the listing companies website- you'll probably find it there. That's how we locate stuff not listed out here (in abundance). While it reveals none of the important stuff from a Realtors perspective (days on market, payment to other brokers, etc.) at least you'll get a price!

FEB

Wow. Definite different strokes for different folks in different areas of the country. Out here Realtors and their brokers like to hold onto a new listing for 72 hours before putting it in the MLS so that they can try to sell it in house, but many sellers are not aware of that practice and seem to be demanding that it go into the MLS within 24 hours. And they want proof, too!

Russel, it's about educating sellers- but if an area is held "hostage" to antiquated practices, it can be a tough nut to crack!

FEB

Laurie, my market (the Twin Cities) has been truly a co-op market for a very long time. As much as there a those very few sellers who exclude their listings from the database, but vast majority see the benefit. And, truly, 98% of homes are sold through a co-op agent. If you show your sellers NAR statistics, it might be easier for you to convince them. Good luck!

Marzena, unfortunately the MLSLI has facilitated these companies by permitting them to participate in the MLS in some areas, but not one. It looks like they may FINALLY take action, which would clean up a pretty despicable real estate environment- for members that pay dues, respect for (and adherence to) MLS guidelines is important! Thank you- I came from Denver, where brokers would be severely reprimanded if they played games with the MLS. My area is a real eye-opener.

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