Realtors Entering False Or Misleading Information In MLS

[mb1243]

As an appraiser, I pay dues to our local association of realtors in order to be able to access our multiple listing service. I expect the information put into the MLS is as accurate as reasonably possible. However, we have some realtors in our association who are knowingly entering false or incomplete information in the MLS. Is there anything that can be done about this?

 

[J Grant]

As an appraiser, I pay dues to our local association of realtors in order to be able to access our multiple listing service. I expect the information put into the MLS is as accurate as reasonably possible. However, we have some realtors in our association who are knowingly entering false or incomplete information in the MLS. Is there anything that can be done about this?

You can let the MLS board association know, though I doubt much will change. We have to remember that RE agents are sales agents, and by law (unfortunately decided in a court case). they are allowed to engage in what is known as "puffery" . Perhaps puffery is supposed to be limited but they push it to the max, in my area, some outright lie about SF (including garages and porches in sf, as if they didn't know better) , saying there is an ocean view when can barely see it from one corner of a balcony etc.

Part of our job is to wade through the BS, verify and or check against public records, other sources including our own observation. I look at it as job security, if MLS/agents every became accurate/factual, their data could be entered and relied on for evaluation purposes leaving us out of the loop. One of the weakness of an AVM or computer generated comp or other data search is not filtering out what MLS says, when public records differs etc.

 

[Nancy Heiss]

Are you finding the same realtors continually enter false or incomplete info? We have so many agents in CA that I think some have not been trained properly and don't know the correct way to use MLS. I realize that is not a valid reason for the 'mistakes' or omissions. There should be an option on your MLS to report violations, if you feel this has been done intentionally. I find MLS most amusing and often get LOL's from the spelling/wording.

 

[J Grant]

https://www.zillow.com/advice-thread/Big-difference-between-marketing-and-puffery/503478/

http://jommagazine.com.au/misleading-false-advertisements/

 

[J Grant]

Not that I am defending their nonsense, but we are guests at the MLS table. MLS exists mainly for agents to market listings to each other, it does not exist to serve appraisers.

 

[hastalavista]

Is it factually incorrect information, or is it an over-emphasis on some marketing point?

If factual and habitual, I would let the board know.
If a sales hype, I would make sure to confirm those agents' information on the MLS (condition, view, etc.) with the other agents in the transaction.

 

[RSW]

Not that I am defending their nonsense, but we are guests at the MLS table. MLS exists mainly for agents to market listings to each other, it does not exist to serve appraisers.

I am not a guest of our MLS. I am a full Member of the NAR and have full privileges as the other members.

 

[J Grant]

One way appraisers can use the agent's/MLS lack of accuracy is determining whether a buyer is truly well informed/well advised or not...I am always amazed to find otherwise astute people ( buyers) swallowing whole whatever "their" RE agent tells them, as well as believing the cherry picked "comps" ( nearly always superior to subject) used to convince a borrower the property is worth X $ .

 

[J Grant]

I am not a guest of our MLS. I am a full Member of the NAR and have full privileges as the other members.

Jesus I did not mean it literally ! I also am a member of NAR and have same privileges ( except as sales agent collecting a commission) but you missed my point, MLS does not exist to serve appraisers, MLS exists
to serve RE agents and brokers to advertise listings to sell. Therefore, their verbiage, puffery, stretching of facts is geared toward other agents, not to us and what we need ( facts only, accuracy) An agent lists on MLS and wants to attract other agents to show and sell the property.

All of us are invited members to MLS, they can kick us out as they can any other member. Nothing in their charter as far as I know ( though I could be wrong) forces them to accept appraisers as members.

 

[DJBanas]

I'm guessing your MLS does not have a process to report errors. I belong to Trend MLS (now part of Bright) and there is a button I can click and report an error or discrepancy. I have used it about a dozen times or so over the past 5 years and changes are made. They verify with the listing agent and if they agree then the change is made. Don't know what happens if they don't agree because the change is always made. Biggest error - a fee simple townhouse being listed as fee simple condo. Simple check of the tax record.