Selling Property near Fayetteville

[nmnita]

Originally Posted by LittleRocker-Elena

You can be a licensed agent but not be a REALTOR. Only REALTORs are members of the National Association of Realtors (and their local association as well) and only they have access to the MLS. It is not uncommon in rural areas for agents to be licensed, but not a REALTOR, as a lot of deals are done outside of the MLS.

Good luck to your parents in selling. Have you considered the option of breaking up the land?

you are exactly right, but some people don't know the difference..

Nita

[DC at the Ridge]

Originally Posted by Dreamy46

So back to the original discussion, the folks who listed the property would have been unable to put said property in the MLS if they were not Realtors. Am I understanding that right?

It's a bit complicated, actually. You can be a licensed real estate agent without being a Realtor. And because of the growth in FSBO's there are alternative ways to get listed in MLS. When you list with a real estate agent in Arkansas, the real estate agent doesn't have a legal obligation to make sure the listing is included in the MLS. If that's a priority of the seller, then it's the seller's obligation to make sure the real estate agent can obtain access, either because of their own membership in MLS or via a broker, and that the real estate agent does so.

[Dreamy46]

Originally Posted by DC at the Ridge

It's a bit complicated, actually. You can be a licensed real estate agent without being a Realtor. And because of the growth in FSBO's there are alternative ways to get listed in MLS. When you list with a real estate agent in Arkansas, the real estate agent doesn't have a legal obligation to make sure the listing is included in the MLS. If that's a priority of the seller, then it's the seller's obligation to make sure the real estate agent can obtain access, either because of their own membership in MLS or via a broker, and that the real estate agent does so.

See now we're getting somewhere. And I'm simply pointing out that the seller, if they feel their interests weren't properly represented by an agent, Realtor or not, who somewhere up the food chain has a broker supervising them, has the option of filing a complaint with the state REC and possibly obtaining up to $25k in damages if they can establish negligence.

I find it impossible in today's world for someone to list a property without having the expectation that it will be listed in the MLS as a consequence of hiring a salesperson.

If I was hiring such a salesperson who didn't plan to put my place in the MLS, then I would have at least expected some disclosure such as: "hey, I don't list my properties in the MLS, however I can do that for you, but due to me not having subscription access, I'm going to have to charge you XXX number of dollars to do so."

Is that unreasonable to expect?

[DC at the Ridge]

Originally Posted by Dreamy46

See now we're getting somewhere. And I'm simply pointing out that the seller, if they feel their interests weren't properly represented by an agent, Realtor or not, who somewhere up the food chain has a broker supervising them, has the option of filing a complaint with the state REC and possibly obtaining up to $25k in damages if they can establish negligence.

I find it impossible in today's world for someone to list a property without having the expectation that it will be listed in the MLS as a consequence of hiring a salesperson.

If I was hiring such a salesperson who didn't plan to put my place in the MLS, then I would have at least expected some disclosure such as: "hey, I don't list my properties in the MLS, however I can do that for you, but due to me not having subscription access, I'm going to have to charge you XXX number of dollars to do so."

Is that unreasonable to expect?

Whether it is unreasonable or not is besides the point. The real estate agent is not legally required to disclose what professional organizations they may or may not belong to. I don't think you would win your case for negligence if the agent made any effort to sell the property. As someone else noted, in rural areas it's not notably unusual for an agent to not be a Realtor. Since the MLS is a Realtor product, they would not have direct access to the MLS, and there could be costs to indirect access that they might choose not to incur. At least in Arkansas, the responsibility to assure yourself of a MLS listing falls to the seller.

[Dreamy46]

Originally Posted by DC at the Ridge

Whether it is unreasonable or not is besides the point. The real estate agent is not legally required to disclose what professional organizations they may or may not belong to. I don't think you would win your case for negligence if the agent made any effort to sell the property. As someone else noted, in rural areas it's not notably unusual for an agent to not be a Realtor. Since the MLS is a Realtor product, they would not have direct access to the MLS, and there could be costs to indirect access that they might choose not to incur. At least in Arkansas, the responsibility to assure yourself of a MLS listing falls to the seller.

That's good to know. Now out of curiosity, what is done to ensure sellers know this? Is there a statement in the sales contract about that, or are sellers just supposed to be legal scholars to know such things? Is there a standardized state contract in Arkansas, or everyone draws up their own deals?

[DC at the Ridge]

Originally Posted by Dreamy46

That's good to know. Now out of curiosity, what is done to ensure sellers know this? Is there a statement in the sales contract about that, or are sellers just supposed to be legal scholars to know such things? Is there a standardized state contract in Arkansas, or everyone draws up their own deals?

Different agencies have there own contracts on file. There are certainly specifics included in such contracts that are drawn up according to Arkansas law.

I don't think the laws regarding Realtors/MLS/real estate agents differ that much in Arkansas from other states, so I don't think sellers or buyers here have to be extra vigilant. I would recommend that renters be extra-vigilant, though, especially when it comes to landlords that are not professional property managers. The laws protecting renters in Arkansas are close to non-existent, in my opinion.

[arkansaschurchlady]

Our real estate agent is licensed and they don't use MLS. Drives me crazy. Their agency has their own website and think that's enough. We have 12 acres up near Yellville and it's truly frustrating. Moderator cut: no details here, please I hate to move the listing because the agent knows the area.

[nmnita]

Originally Posted by arkansaschurchlady

Our real estate agent is licensed and they don't use MLS. Drives me crazy. Their agency has their own website and think that's enough. We have 12 acres up near Yellville and it's truly frustrating. Moderator cut: no details here, please I hate to move the listing because the agent knows the area.

That is a problem, one of the reasons for using a realtor is exposure.

Nita

[arkansaschurchlady]

Yes, it is a problem. We've bought an old church near Russellville and are remodeling it. Been a dream to do that for a long time. Need to get rid of the property up north. Realtor is also a neighbor/friend, so we hate to take the listing away. She also lives in the area and knows it like the back of her hand. We've offered to pay for mls listing and don't know who else we would list with. bummer.