Delisted: Bay Tech lot withdrawn from MLS

Just because I’ve not written anything on the Bay Waveland School District real estate scandal does not mean things have not been happening folks.  I’m not going to slice and dice this subject like some of the other matters I cover as there is no need. That said I’ve have enough accumulated for an update so here goes.

First is the local rumor mill, which is saying the FBI has been poking around.  I’ve found doing Slabbed that rumors about grand jury investigations and investigations in general to be notoriously unreliable since there are so many moving parts involved, so I’d urge the buyer of such ruminations to beware.

Second is I’ve heard several tantalizing tidbits about the confirmed investigation into this by the Mississippi Real Estate Commission.  After taking a peeksie at their list of disiplinary actions I wonder what it would take for a realtor to actually lose their license in this state. That said this investigation appears to be moving quickly to a resolution.

Third is what I’ll call a verifiable fact on the Bay Tech Lot next to the building as the listing with McDonald Realty has been cancelled per the MLS as of October 17, 2012.  Going back through my notes on the lot from earlier interviews with Mr Bill Washburn with the Magnolia Group and Avra O’Dwyer of O’Dwyer Realty I noted Mr Washburn indicated the lot was listed at $135,000 and that soon after Slabbed broke this story he indicated he fired his realtor Mary Bunch.  I duly noted the McDonald Realty sign remained on the property and the listing remained active in the MLS for weeks after Mr Washburn gave me that interview.

What is screwey about the whole deal is the MLS indicated the property was for sale for $150,000 and the price was then reduced by $5,000 one week later and then another $2,500 one week after that, such activity taking place before Slabbed broke this story.  The final price @ $142,500 per the MLS still differs from the $135,000 Mr Washburn told me was the asking price.

If I can confirm any of the rumors or as developments warrant, I’ll post an update so stay tuned.

Links to Slabbed’s previous coverage of this matter:

12 thoughts on “Delisted: Bay Tech lot withdrawn from MLS

  1. Tom

    Doug ,
    I would advise Mr Washburn to contact the National Association of Realtors and the local board to file a formal complaint of violations to the code of ethics . I would also advise Mr. Washburn to demand a copy of his entire file from the broker , price reduction , amendments to the listing agreement have to be in writing particularly to change the asking price in the MLS . Question in my mind who signed those documents , his my well be beyond the jurisdiction of the Real Estate Commission.

    Reply
  2. name

    Are these brokers part of the Realtor association? They don’t use it in their names like most brokers that are. They have the R logo as part of the MLS logo but that doesn’t mean much. When getting logos from the MLS companies they are often combined with the Realtor logo and many, many people use them that are not part of the Association of Realtors. The Association of Realtors is a private club and has no real power to do anything. They are not a government agency and have no power given by any law. The worst they can do is kick someone out of their club.

    I was a member of their club for many years and if I ever go back into Real Estate I will not be part of them again. I don’t like paying for something that gives me nothing in return.

    I believe the brokers and agents should be governed by state law only. Rules from a private club that only applies to its members only leads to confuse the consumer.

    Reply
    1. Tom

      Sure what the heck who needs ethics, right ? You can’t join the MLS unless you are a realtor and if you violate those ethics you get removed from the MLS. It keeps professionals operating under a set of ethics also means those professionals are higher trained and educated in their jobs .

      Reply
      1. name

        Unless things have changed in recent years you can join the MLS and not be part of the Association of Realtors. I was in the MLS for years without being in their club. I later had to join the club as the broker was taken over by a company in it.

        Rules from a club are not enforceable by law. The consumers don’t know what the Association even is. They call all agents “realtors”. I know people in the LREC, I’ve been told they are constantly getting complaints from consumers who want to file complaints based on Realtor Association rules.

        Being an ethical person is one thing. Being governed by rules from a private club is another. I think the laws governing agents are more than adequate. If you wish to be part of their club I have no problem with it, it just isn’t for me.

        My original comment was that these companies may not be part of the club and that just because they have the R as part of their MLS logo may not mean that they are part of it. The MLS has their logos combined with the R logo in many places.

        Reply
        1. Tom

          Then things have changed quite a bit since you were licensed , the Real Estate Commission can only sanction you if you are licensed however they can refer the case to the state DA if you are collecting commissions unlicensed however the caveat is if you live out of state and operate from out of state there is little they can do . Removing a Realtor from the MLS is the quickest way to shut him down and the MLS is part of the local board which in turn are members of the National Association of Realtor . If you use the Realtor logo and not a member it is fraud as well a violation of copy rights .

          Reply
          1. Tom

            P. S.

            Having to join the local board and National Association of Realtors to list properties in the MLS has been done for over 20 years that I know of Realtors own and operate the MLS system and it is through there code of ethics that they operate the MLS .

            Reply
  3. Doug Handshoe

    I’ll share my disappointment that some of the people on the periphery of this did not make better decisions early on when the scandal broke here on Slabbed. I thought the school board were dupes at first instead of what appears to be active conspirators to what, at best, is a massive civil fraud and at worse, far worse.

    This should have been clear cut for Ms Bunch’s new broker as well but he too set sail and the reputational damage that being done to his realty business is undeniable.

    Reply
    1. Tom

      Then do file the Ethics charges both at the local board and the National Realtors Association they will have to have a hearing or come up with a very good reason for not and I can’t conceive of that if prices in the MLS were changed without the owners permission. Be interestingly useful for discovery Doug.

      Reply
      1. Doug Handshoe

        I figure following the money out of LNG will reveal the parties to this conspiracy. Banking transactions can’t be hidden.

        Reply

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