FSBO's

I'm looking for some examples of MLS Rules and Regulations regarding FSBOs.  My agents, who are acting as buyers agents, want to make sure they get credit for a sale they are brokering.  Does anyone have any rules addressing entering FSBO's into the MLS once the sale is complete?

Dan Sutherland

Outerbanks Association of Realtors

252-441-4036

daniels@outerbanksrealtors.com

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I'm looking for some examples of MLS Rules and Regulations regarding FSBOs.
My agents, who are acting as buyers agents, want to make sure they get
credit for a sale they are brokering. Does anyone have any rules addressing
entering FSBO's into the MLS once the sale is complete?
Dan Sutherland
Dan,
We allow our members to input the sold listing into our MLS system as "sold
before processed".
We have a "non-member" category we put in for the listing agent... so the
selling member only gets credit for the sale side.

Bunny St. Clair, AE
Northeast Washington Assoc. of REALTORS(r)

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Judy Waters, Associate Broker, Accredited Buyers Representative
Town and Country Real Estate
Beaufort, Hilton Head, and Jasper County South Carolina
843 597-0096
judywaters@hargray.com
http:/JudyWaters.net

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Dan wants to know:

"My agents, who are acting as buyers agents, want to make sure they get
credit for a sale they are brokering. Does anyone have any rules addressing
entering FSBO's into the MLS once the sale is complete"?
 

Who cares if a FSBO is sold by anybody's Buyer's Agent?  If the property wasn't sold through the MLS why input it now?  You say your agents are Buyer's Agents working with FSBOs.  So how would your sales entry assist any of us in the MLS?  What credit is there to be had from inputting the transaction through the MLS NOW?  The MLS was never  designed for statistical entries.  Our board allows them, but I don't have the foggiest clue, WHY!  Many of us have forgotten the MLS was designed for LISTING AGENTS and their SELLERS with COOPERATING AGENTS willing to work for the fee we offered through the MLS.  WHAT HAPPENED?  Somewhere around the mid 90s we all got off track and now look at the mess we are in.  For the past seven or so years the market has been turned into a free-for-all consumer take all market.  We have so many table waiters in our profession and very few critical thinkers.  The buyer's agents between 2001 and 2005 should be ashamed of what they produced through their boneheaded representation of buyers. 

We are in the middle of the biggest Real Estate Melt Down since the Great Depression.  You couple that with the price of Crude and you create a real mess.  I wonder how long it will be before we have ALL NEW CREDIT REPORTING Guidelines?  I can see it now, credit repair agencies will be nothing more than On-line Clearing Houses.  When people are looking to rent or buy the report from the big three will not be necessary.  The only credit worthy prospects will be those who pay their water bill, power bill, gas bill and communications bill.  If you pay them on a regular basis then you'll be accepted in the credit club of the worthy.  Who doesn't pay their water bill, power bill, gas bill or communications bill?  It won't make any difference if you have a foreclosure, bankruptcy or unsecured credit debt write offs.  The only credit guideline will be determined by the big FOUR, Water, Power, Gas and Communications.  If you can pass that test you get the loan or the rental.  This will include  big ticket purchases such as Furniture, Cars Taxes and Insurance also.  We'll be putting all our taxes and insurance on convenient cards.  The Government is getting ready to issue Debit Cards to the Baby Boomers now.  Could this be the brave new world we all want and desire?  Instead of a monthly SS checks in the mail, you'll have a Convenient Card that revolves each month with what ever your Social Security Allotment you earned over a life time.  Just think of the savings for our over stuffed Government.  No more 43 cent stamps for SS checks through the mail.  Now isn't that a bargain, we are saving already.  Don't you just love technology it makes life so much CHEAPER.  I guess that's what we all want a CHEAPER LIFE!  Right?

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