Buyer's Agent - MLS boundaries - Commissions

[Sam Chapman]

What Bigtoe and Susan said. If you don't know the area and don't have access to comps, are you really providing a service or are you just trying to collect a paycheck?

[SLP-NYCT]

MLS is not the only avenue for comps. In fact MLS does not have all the comps you actually need, like FSBO's. If you are licensed in the state and you will DO YOUR JOB, access to the MLS is not a requirement for representing clients.

I will gladly make arrangement for any Real Estate Agent, Realtor or not, that is licensed in NY to be able to gain access to one of my listings. It is far easier to do this than to deal with the thin gray line of Dual Agency/Agent issues.

Of course this means you can not be greedy, but I look at the payout it as a business expense so it was never intended for me to begin with.

FYI: Any Brokerage that denies you access to a listing when you are a Buyers Agent has broken the law. (at least in NY) Even in an Exclusive Listing or "Pocket Listing"

I personally love the electronic lock boxes, but they can be programed to allow assess from non participants, most do not to make it difficult to show. Who is not doing their job then?

[satxproperty]

MLS is not the only avenue for comps. In fact MLS does not have all the comps you actually need, like FSBO's. If you are licensed in the state and you will DO YOUR JOB, access to the MLS is not a requirement for representing clients.

I will gladly make arrangement for any Real Estate Agent, Realtor or not, that is licensed in NY to be able to gain access to one of my listings. It is far easier to do this than to deal with the thin gray line of Dual Agency/Agent issues.

Of course this means you can not be greedy, but I look at the payout it as a business expense so it was never intended for me to begin with.

FYI: Any Brokerage that denies you access to a listing when you are a Buyers Agent has broken the law. (at least in NY) Even in an Exclusive Listing or "Pocket Listing"

I personally love the electronic lock boxes, but they can be programed to allow assess from non participants, most do not to make it difficult to show. Who is not doing their job then?

Sounds to me like the MLS' may have an agenda to make it difficult so that only MLS-members can show MLS listings (or get comps with the click of a few keys) ...

[SLP-NYCT]

Most Certainly Satx!
BTW, I agreed 100% with your post!

[AugustaREGroup]

Certain situation is a neighboring state.

As far as my knowledge of the area... I lived there for 18 years, currently own 5 properties in the same area, originally licensed in that neighboring reciprocal state (GA), and am still buying and selling in the area (not my MLS).

As far as cashing in... This is not a big deal.. nor am I looking to cash in at my friend's expense. I honestly believe I would do him the best as far as having a cash with a good amount of equity in 1-2 years.

My original post was morefor me to know normal protocol (for future reference). From the looks of the thread it seems like it is just one of those grey areas of real estate, and every situation is different.

[AugustaREGroup]

One more question along this topic... Seems that most people on here would "Refer out the lead".

What if the situation is that you are buying a property in another MLS?

a) refer yourself out (hire a buyer's agent)
b) represent yourself, especially if you already know the property you are putting an offer on.
or
c) tell the listing agent to reduce their commission from 6% double ended to 3% listing side and regard you as a customer (not client)

[Ryocheck]

We used to have separate MLS's here in different areas and it wasn't uncommon to request the listing licensee make the home available to view. However, if you are not licensed in the other state that is a different story.

[Bigtoe]

When I first posted I did not have an understanding of your knowledge of the locality. If you know the area like you say you do then I would not use another agent.

The danger lies in not knowing the area and its peculiarities. Dirt is not dirt. There are some areas in my state where houses tend to slide downhill. Here, houses wash away. Not knowing about these situations and where/when/why they occur opens the door to buying someone else's mistake.

Here, schools are not important to most people but in other areas the wrong school system can land an agent in court.

There is more to helping a buyer than getting inside and finding comps but if you know the area go for it.

[Lake Tahoe Chuck]

I agree, refer it, especially if you do not know the area.

[AnnAnderson1015]

Here's my two cents.

You can refer them and ask for the regular buyer agent's commission if they choose to purchase that property. By law and the code of ethics the listing agent most present this information to his/her clients, the sellers.
Here's my reasoning, the agent does not have to show these buyers any property and it is in the best interest for his client to know that they have an interested buyer.

If the buyer decides to buy something else with that agent than a 25-30% will do.