Nevada MLS By Donald Plunkett At Isnare.com Ezine Articles

In general, real estate market participants such as buyers, sellers, and agents have more information at their fingertips than ever before. That being said, they need to understand where to look for data and what to do with it. People looking to buy or sell a property in Nevada often inquire about which MLS database contains homes in a particular area. Even those not using an agent, such as ‘for sale by owner’ sellers would like to see this data in order to successfully price their property based on comparable sales and listings. The Nevada Association of Realtors recognizes separate multiple listing services in the following areas: Greater Las Vegas (including Boulder City, Henderson, and Pahrump), Northern Nevada (including Carson City, Reno, and Sparks), Incline Village, and Elko County. Many Laughlin properties are listed in both the Greater Las Vegas system and across the border in the Western Arizona Regional Data Exchange (WARDEX). Cities and towns in the state such as Jackpot, Ely, West Wendover and other smaller population areas fall outside of the coverage area of the state-recognized MLS’s. Properties in these areas may show up in one of the aforementioned MLS systems, in smaller unsanctioned systems or just on real estate brokerage websites and lists.

Being listed on the wrong MLS system is tantamount to advertising to the wrong group of buyers. Even if the buyer of a Henderson property was a casino executive relocating from the Reno area, he would not find the property through the Northern Nevada MLS. The executive would search national or local websites that pull Las Vegas area listings from the Greater Las Vegas MLS. The executive would also most likely work with a Las Vegas real estate agent. Even if the executive had a close friend who was a Reno real estate agent, that agent would refer the buyer to a Las Vegas buyer’s agent, perhaps obtaining a referral fee at closing. Since the Reno agent is not a member of the Greater Las Vegas MLS, he does not have the ability to pull listings, obtain access to properties, or to share in co-op commissions with the listing agent. Since Las Vegas buyers work with Las Vegas agents, the Greater Las Vegas MLS is place to be listed.

It is also important to note that buyers and sellers do not have direct MLS access. Any public view website such as Realtor.com, LasVegasRealtor.com, RGJ.com, or a brokerage website ‘MLS search’ is not going to show full detailed information. It will only show a limited, ‘teaser’ view of the listing to get someone interested. Only Realtor members of a local MLS have full access to the data. Secondly, for sale by owner properties are not listed on the MLS. Every listing on the MLS is listed by a broker. If someone wants to do most of the work themselves and not pay a listing commission yet still show up on the MLS, the closest thing to a ‘for sale by owner’ is a flat fee MLS listing. Here the seller is still bound to pay a buyer’s agent an advertised amount (any amount the seller chooses), but is not required to pay a listing agent a commission at closing. The listing agent provides this service for a small flat fee.

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