Just purchased the player two days and I realized that that the player only plays dvds of region 3 only. Is there any way to change it to a multi-zone player
The DVD playback can be multi-region enabled. If you have a Harmony programmable controller (or it's ilk) you can do it yourself. Have a look on the web under "BDP-S760 multi region upgrade" (not sure I can post the direct links because of forum rules). There are services that send you the relevant controller (ususally return in seven days) + instructions for about £25-30.
Well, if you Google for multiregion hacks for the BDP-S760 you'll find at least one using the oneforall remote control, but whether this would work for the 765, which AFAIK is your local version of the same player, I don't know.