Help! How do appraisers get access to MLS data Or other listing, sale price, type of loan data

[Zoe]

MAAR MLS is in Memphis and Crye-Leike is one of the largest brokers in the Nation and probably top 5 for sure in single family housing is headquartered in Memphis and if you appraise single family in Shelby County, TN for sure you need MAAR MLS. It will save you time and give you resources no other data source can provide. It is well worth the money spent.

It will keep you in compliance with USPAP also.

 

[Zoe]

That made me think though. Have you called Corelogic and asked them if they have access to the MLS data in your area? Do you use Total software? They wouldn't have the analytical tools that our MLS provides likely, but they might have access to some data that would help you like DOM and listing prices. Their data would likely focus on a single property. No analytical tools or search criteria available. That would help you a little, but very little. Our MLS provides so many search criteria and data analysis tools it is crazy. An appraiser has always been on MAAR MLS board for as long as I can remember. That helps appraisers because they have a dog in the race and input into decision making.

 

[Zoe]

To be honest, I envy you in some ways. I remember those days being in rural area with no data available other than personal inspection, tax assessor data and local realtors, bankers, closing agents, buyers, sellers, etc. . It is way more complex now.

 

[sputnam]

My point is the same. If you don't know how to get data in a particular area, you are not competent to do appraisals in that area. You either decline the assignment or do what it takes to acquire compentency.

 

[Zoe]

My point is the same. If you don't know how to get data in a particular area, you are not competent to do appraisals in that area. You either decline the assignment or do what it takes to acquire compentency.

Your getting into USPAP then. I promise you if you don't have access to the local MLS in Shelby County TN, you don't want to perform an appraisal in Shelby County without MLS or access to it through affiliation with a local appraiser.

If client calls and says review this appraisal for me? I say okay. Appraiser was in Egypt? You have a strong problem.

 

[Zoe]

That's single family only on appraisal. They are good on commercial, but the best by far on single family residential and 2 family. Somewhat good on 3-12 family. But single family or duplex units, nothing compares remotely.

 

[Zoe]

Our MLS is good on land sales too. They have a link that goes to that too by what agents and tax assessor posts. It's incredible. I guess it helps to have one of largest brokers headquarters here.

 

[Zoe]

I work in western SD in a number of areas, each of which is served by different MLS services or none at all. I rely in Zillow ( or similar online info) the county, and the old fashioned phone call when possible. Every time I restart my quest to sign up with MLS or seek MLS data I run into dead ends. I feel like I am not getting the kind of market analysis done that I need and I turn down some appraisals because of it. I often explain this in my conditions when I accept an appraisal . How do other appraisers deal with this?

I appreciate your effort to improve the quality of service you provide. I really can't help you much otherwise.

 

[Terrel L. Shields]

30 years ago, my MLS did not allow appraisers to join.

When I first started you could only get a quarterly Sold book as an appraiser. On line you only got access to Solds. I used to have about 8 or 9 years of them from 3 separate boards. Then we got access via DOS program for MLS service. Then our local board started on line, not having a book, but quickly merged with the other three into one large MLS. The boards remained separate but the MLS was unified. Then our board merged with the others into one single board. But being on the state line, we had some agents on both the NE OK board and the NW AR board and the fringe OK agents often were on the Tulsa board.

 

[sputnam]

Your getting into USPAP then. I promise you if you don't have access to the local MLS in Shelby County TN, you don't want to perform an appraisal in Shelby County without MLS or access to it through affiliation with a local appraiser.

If client calls and says review this appraisal for me? I say okay. Appraiser was in Egypt? You have a strong problem.

That depends on the scope of the review. Some reviews do not require geographic competence.... just compentence. For example, if your SOW is to review for completeness, compliance, and consistency without commenting on the value of the property and without verifying data in the report. Some AMCs do that sort of review prior to sending the completed report to their Client.