In honor of Memorial Day, which commemorates U.S. men and women who have died in military service to their country, I post a photograph of my Uncle James Welsh (Eldest brother of my father Myron Welsh). As you are aware “net sales listings” are not allowed within our MLS at this time.  Read this MLS Tip Sheet from GLVAR. (This topic is on page 5 of the Tip Sheet.)  Recently at the Mid-Year National Association of REALTORS meeting, this topic came up.  

  • Gave MLSs discretionary authority to enable participants to offer cooperative compensation through the MLS as a percentage of the net sale price. The net sale price is the gross price minus seller concessions and new-construction buyer upgrades.

These changes are not automatic; and our local GLVAR will have to vote if it is to be adopted.  We here at Prudential®, Americana Group, REALTORS® anticipate that  the annual Participant’s meeting may be held next month just for this purpose.

 If this is passed the measure would not be restricted to REO or new home sales, but rather would open the door to virtually any listing being able to be offered in this manner. 

 Since, a majority of sales include Seller’s concessions it will affect most every REALTOR®.  If you have an opinion you should contact your Directors at http://www.lasvegasrealtor.com/site/committees.asp?code=08BD and let them know it.

 I will keep you posted as I learn more.

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