“If its on the MLS its already a bad deal”

[NIcholas Hamel]

"If its on the MLS its already a bad deal"

Ive heard this a few times already. I dont expect great deals to jump off the page at me but am i really missing out by relying on the MLS to find a good deal?

[Jose L Torres]

@NIcholas Hamel If by MLS you mean the real thing (not the .com sites) the answer is no. You are not missing on deals.

The listing price on any property whether residential, commercial or Land is just the “starting price”.  This is designed to trigger a conversation on the property. 

Pricing is a strategic decision not a value decision.  

In most states all property being sold with a Real Estate Agent has to be added to the MLS within a specified period of time ranging from 24 hrs to 5 days depending on your state. You can also get extensions granted for delaying the listing to give time to owner and agents to stage the property, get pictures taken and prepare the listing. Depending on the state you may or may be able to show the property until it is officially listed.

Property sold by owner does not have that limitation as it never makes it to the MLS.

There are deals out there in the MLS, you just need to know where to look and you need to monitor the activity regularly to find those deals when they show up. A good buyers agents can help you set this up with a specific criteria so you automatically informed when those deals come up.

I hope this helps you.

Jose