NNRMLS Bans (then allows) Foreclosure Listings from Web!
Posted by Mitch Argon - CalNeva Realty on Saturday, January 10th, 2009 at 10:10pm.ATTENTION -
As of April 15, 2009, the local MLS (NNRMLS) has relaxed their position on allowing foreclosure and short sale listings to be searchable and identifiable from this web site. I am pleased to announce the following new features:
- Reno-Tahoe Area Foreclosure Listing Directory
- Reno-Tahoe Area Short Sale Listing Directory
- Search all listings (select foreclosure or short sale listings as you like)
The information below is now obsolete based on the April 15, 2009 rules! Good news for consumers!
As of January 8, 2009, I have been notified by the Northern Nevada Regional Multiple Listing Service (NNRMLS) that I am prohibited from displaying foreclosure listings on this site as you have come to find them in this blog. NNRMLS is the listing information provider for all listing data on this site.
The listings will still be on my site but I can not post a specific list for your review.
What does this mean?
- I will be removing/editing all posts that list the foreclosure homes from this blog (as fast as I can type/edit them out).
- The Foreclosure Email Alert system [[you can subscribe for free - the absolute EASIEST way to get new (and price changed) foreclosure listings for any city in the Greater Reno-Tahoe area]] is still available and will operate unchanged. The ban only affects information posted on the web site for any consumer to see.
- I will begin posting up statistics about foreclosure home sales and listing inventory trends - just not the actual listings.
REMEMBER - all of these listings will still be on my site. It will simply be EXTREMELY DIFFICULT to find them because the NNRMLS will not allow me to implement a search feature or publish the lists.
I apologize if this diminishes the service level of this site but as a licensed REALTOR, I need to follow their rules (which I don't always agree with nor think allow the best service to the home buying/selling public - won't go any farther here...).
I appreciate your understanding. If you are already a "Foreclosure Email Alert" Subscriber, you do not need to do anything.
I'd LOVE to hear any comments you may have - feel free to post them using the COMMENT feature!
Mitch
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Share10 Responses to "NNRMLS Bans (then allows) Foreclosure Listings from Web!"
Bob wrote:
We should all view this action by the NNRMLS as a war on the public and boycott all Licensed REALTORs and crush their cartel. Lets take back our country. Kick the corruption out!
We should all view this action by the NNRMLS as a war on the public and boycott all Licensed REALTORs and crush their cartel. Lets take back our country. Kick the corruption out!
Posted on Monday, January 12th, 2009 at 11:35 AM.
mitch wrote:
Bob - I'm a licensed broker (realtor) but don't boycott me - I'm on your side! I am in firm agreement with you, however, that some well planned reform in this area (and others within the RE industry such as dual representation, new home builder 'switch and bait' to the public on their rights to representation, etc.) would allow for much better service to the public.
Bob - I'm a licensed broker (realtor) but don't boycott me - I'm on your side! I am in firm agreement with you, however, that some well planned reform in this area (and others within the RE industry such as dual representation, new home builder 'switch and bait' to the public on their rights to representation, etc.) would allow for much better service to the public.
Posted on Monday, January 12th, 2009 at 5:13 PM.
Sally Brecke wrote:
what happen to freedom of the press? I enjoy looking at the lists. It is public information anyway.
what happen to freedom of the press? I enjoy looking at the lists. It is public information anyway.
Posted on Wednesday, January 14th, 2009 at 9:53 PM.
Renee Collins wrote:
Did they give real reason for not posting this information. Will it make it harder to sell this properties? It just makes it harder for us.
Did they give real reason for not posting this information. Will it make it harder to sell this properties? It just makes it harder for us.
Posted on Thursday, January 15th, 2009 at 9:45 AM.
Jessica Morton wrote:
Perhaps NNRMLS just didn't want a convienient place for buyers to search on their own before being shown regular 'for sale' properties. I think everyone who is upset by this NNRMLS ruling should WRITE A LETTER and voice their feelings.
Perhaps NNRMLS just didn't want a convienient place for buyers to search on their own before being shown regular 'for sale' properties. I think everyone who is upset by this NNRMLS ruling should WRITE A LETTER and voice their feelings.
Posted on Sunday, January 18th, 2009 at 9:03 AM.
Jeff wrote:
I am very disappointed that NNRMLS has resorted to these illegal and corruptive measures. Mitch's site (especially his monthly report/trend analysis) has been extremely beneficial for all of us waiting to jump into the market. I suggest you do what I did. If you are looking to buy new, contact the builder directly. (Bypassing all real estate agencies). They are offing these properties at extremely low prices at no commission. You will not see them MLS listed nor reported as sold unless you do a thorough search of County treasurer web sites. Good luck to all.
I am very disappointed that NNRMLS has resorted to these illegal and corruptive measures. Mitch's site (especially his monthly report/trend analysis) has been extremely beneficial for all of us waiting to jump into the market. I suggest you do what I did. If you are looking to buy new, contact the builder directly. (Bypassing all real estate agencies). They are offing these properties at extremely low prices at no commission. You will not see them MLS listed nor reported as sold unless you do a thorough search of County treasurer web sites. Good luck to all.
Posted on Sunday, January 18th, 2009 at 9:03 AM.
mitch wrote:
Hi all -
First off, I am not here to defend the NNRMLS. I don't agree with nor am fond of (being diplomatic here) these policies nor their enforcement. If you follow this site, hopefully you can appreciate the level of thinking and work that I've put into making this a valuable resource for ANYONE - my clients or those using other agents or going on their own. I think everyone wins this way.
That all being said, what they are doing is not illegal - just not very smart. I will begin putting links to the county assessor web sites (on future SOLD data posts) so it will be easy for visitors to find specific property details after they have sold - unfortunately, some of the more useful information like the % of sold to list price would not be stored with the county.
On the foreclosure listings front, they are making it more difficult because of the lag time between a Notice of Trustee Sale (a publicly filed document) and the time the home is actually foreclosed on and listed for sale (nearly all of them get listed). I can post up the Notice of Trustee Sale list which I can get from other sources than NNRMLS, however, these properties have no price, no description, no photos, and may be on the market in a week or in two months - kind of a mess when you are looking to make decisions on a purchase. If you are looking for a free resource here, I think the best bet is still the EMAIL ALERT for Foreclosures. I have been told by many that the listing data is faster and more accurate than the paid sources that are out there - and there are many.
Hi all -
First off, I am not here to defend the NNRMLS. I don't agree with nor am fond of (being diplomatic here) these policies nor their enforcement. If you follow this site, hopefully you can appreciate the level of thinking and work that I've put into making this a valuable resource for ANYONE - my clients or those using other agents or going on their own. I think everyone wins this way.
That all being said, what they are doing is not illegal - just not very smart. I will begin putting links to the county assessor web sites (on future SOLD data posts) so it will be easy for visitors to find specific property details after they have sold - unfortunately, some of the more useful information like the % of sold to list price would not be stored with the county.
On the foreclosure listings front, they are making it more difficult because of the lag time between a Notice of Trustee Sale (a publicly filed document) and the time the home is actually foreclosed on and listed for sale (nearly all of them get listed). I can post up the Notice of Trustee Sale list which I can get from other sources than NNRMLS, however, these properties have no price, no description, no photos, and may be on the market in a week or in two months - kind of a mess when you are looking to make decisions on a purchase. If you are looking for a free resource here, I think the best bet is still the EMAIL ALERT for Foreclosures. I have been told by many that the listing data is faster and more accurate than the paid sources that are out there - and there are many.
Posted on Sunday, January 18th, 2009 at 9:15 AM.
mitch wrote:
Boycott the AGENT - BUY a NEW HOME (see Jeff's post)
BUYER BEWARE!
In my view, the tactics used by new home builders are far more sneaky AND sinister than the NNRMLS' limited vision. Here is what you probably don't know and how it MAY COST YOU!
1. When you walk into a new home sales office and sign the registration card - which is the VERY FIRST thing the sales agent will ask you to do, you are told you are being added to a "interest list" to learn about promos and future goodies.
In fact, you are essentially signing a WAIVER OF EXCLUSIVE REPRESENTATION and you are now on your own to deal with the builder. You will see signs saying "Brokers must register their client on the first visit" on the front door and on the sales counter - which are related to this whole concept. This means that you do not have representation and must represent yourself. What are the consequences?
a. Price Negotiation. I (or any other disciplined agent) can usually negotiate a price for a buyer with a new home builder that is THOUSANDS LOWER than they would negotiate on their own. Why is this? Most people hate negotiating and don't have the information available to negotiate the best deal in this area. So if you are going it alone here - statistically, you WILL PAY MORE than if you had competent representation from an agent - oh ya - costs you nothing.
b. Inspections. Why should I have an independent inspector review a home that is brand new? The builder told me the county inspected it and their quality supervisor reviews everything.... NONSENSE!!! I have seen many instances where a NEW HOME was purchased and sold about two years later and there is unfinished work by the builder (in the attic, roof, under the house usually where you can't see things) that the owner gets stuck paying for to get the house sold. An I am talking homes here in the $600 - $700K price range folks.
Food for thought. I've seen a lot of this stuff first hand and IT IS WRONG. I guarantee you that you will be better off if you have an agent who is a competent, disciplined business person representing you than going it alone. How do you know if you have someone like this on your side? ASK - if they are splitting time between waiting tables or truck driving AND selling real estate - you may not get what you need.
Hope this helps to open up some eyes out there!
Boycott the AGENT - BUY a NEW HOME (see Jeff's post)
BUYER BEWARE!
In my view, the tactics used by new home builders are far more sneaky AND sinister than the NNRMLS' limited vision. Here is what you probably don't know and how it MAY COST YOU!
1. When you walk into a new home sales office and sign the registration card - which is the VERY FIRST thing the sales agent will ask you to do, you are told you are being added to a "interest list" to learn about promos and future goodies.
In fact, you are essentially signing a WAIVER OF EXCLUSIVE REPRESENTATION and you are now on your own to deal with the builder. You will see signs saying "Brokers must register their client on the first visit" on the front door and on the sales counter - which are related to this whole concept. This means that you do not have representation and must represent yourself. What are the consequences?
a. Price Negotiation. I (or any other disciplined agent) can usually negotiate a price for a buyer with a new home builder that is THOUSANDS LOWER than they would negotiate on their own. Why is this? Most people hate negotiating and don't have the information available to negotiate the best deal in this area. So if you are going it alone here - statistically, you WILL PAY MORE than if you had competent representation from an agent - oh ya - costs you nothing.
b. Inspections. Why should I have an independent inspector review a home that is brand new? The builder told me the county inspected it and their quality supervisor reviews everything.... NONSENSE!!! I have seen many instances where a NEW HOME was purchased and sold about two years later and there is unfinished work by the builder (in the attic, roof, under the house usually where you can't see things) that the owner gets stuck paying for to get the house sold. An I am talking homes here in the $600 - $700K price range folks.
Food for thought. I've seen a lot of this stuff first hand and IT IS WRONG. I guarantee you that you will be better off if you have an agent who is a competent, disciplined business person representing you than going it alone. How do you know if you have someone like this on your side? ASK - if they are splitting time between waiting tables or truck driving AND selling real estate - you may not get what you need.
Hope this helps to open up some eyes out there!
Posted on Sunday, January 18th, 2009 at 9:39 AM.
Jeff wrote:
Mitch offers very cogent points regarding both negiotiation and new purchase walk through's (when builder provides certificate of occupancy to the County). During final buyers inspection is the time to correct any deficiencies! I never claim to be an expert, just one with some construction experience who doesn't like information of any kind withheld.
1) NEGIOTIATION: I never signed any type of exclusive rights nor was added to any promo list. I have been watching real estate values plummet and like many others; both potential buyers and existing home owners in the area, am very concerned. By using Mitch's and other websites, I feel like I've got at least a basic grasp of recent prices/trends. Using average asking to purchase price ratios, year over year, etc. gives a ball park idea on what you might consider paying. Dealing with builder's sales agents is absolutely different than hiring your own agent. On the one hand you might save several thousand dollars on commissions, but on the other you need to be absolutely sure what you are getting yourself into.
2. Buyers of any type should always have new homes inspected by a competent building inspector; or at least someone with years of construction experience.
I only offer up to anyone reading this blog the opportunity of my research. By doing your homework and acting cautiously; contracting directly with builders may save you several thousand dollars vice the standard MLS broker/agent relationship. Good luck to all.
Mitch offers very cogent points regarding both negiotiation and new purchase walk through's (when builder provides certificate of occupancy to the County). During final buyers inspection is the time to correct any deficiencies! I never claim to be an expert, just one with some construction experience who doesn't like information of any kind withheld.
1) NEGIOTIATION: I never signed any type of exclusive rights nor was added to any promo list. I have been watching real estate values plummet and like many others; both potential buyers and existing home owners in the area, am very concerned. By using Mitch's and other websites, I feel like I've got at least a basic grasp of recent prices/trends. Using average asking to purchase price ratios, year over year, etc. gives a ball park idea on what you might consider paying. Dealing with builder's sales agents is absolutely different than hiring your own agent. On the one hand you might save several thousand dollars on commissions, but on the other you need to be absolutely sure what you are getting yourself into.
2. Buyers of any type should always have new homes inspected by a competent building inspector; or at least someone with years of construction experience.
I only offer up to anyone reading this blog the opportunity of my research. By doing your homework and acting cautiously; contracting directly with builders may save you several thousand dollars vice the standard MLS broker/agent relationship. Good luck to all.
Posted on Sunday, January 18th, 2009 at 7:04 PM.
This has been a wonderful site for me. It has helped me when the realtors have NOT. I am very upset the NNRMLS is regulating info that should be public!
Posted on Monday, January 12th, 2009 at 11:35 AM.