Concessions Amount Not Reported by Realtors in MLS

[Charlotte Dixon]

Seems to be a trend now with Realtors. Concessions in the MLS indicate YES or NO. Of course, we call the Realtor to ask what the concessions amount was for a particular sale. But, if they don't return our call,, how do you all handle this?

 

[J Grant]

Seems to be a trend now with Realtors. Concessions in the MLS indicate YES or NO. Of course, we call the Realtor to ask what the concessions amount was for a particular sale. But, if they don't return our call,, how do you all handle this?

RE agent did not return calls, unknown if any concession was granted, so none is noted. What can we do, turn into magicians....

 

[glenn walker]

You report what you know. Your not a private investigator and per the MLS#2833 broker Bob says no seller paid concessions. As a reviewer we would pull up the same MLS # and confirm what you reported and sign off. The worst thing is to say you got information from a person that may or may not be correct.

 

[Charlotte Dixon]

But, if the MLS data says 'Seller paid concessions, YES" and there's no amount noted??? Some of these concessions are $10,000-$20,000 and they could make a difference in the adjusted sales price.

 

[glenn walker]

All you can do is call the agents and see what they say. You can't just make up numbers. I would rather defend they said no than go down the make it up trail.

 

[John Hassler]

If you really want to correct this issue then bring it up with your local MLS. Your MLS should have the ability to make fields mandatory so ask that when a “yes” for concessions is marked that it be mandatory the concession be reported. Be prepared to go in front of the board or, even better, get yourself on one of their committees.

I’m speaking from experience.

 

[Tom D]

On our agreements of sale under concession is has 1. buyer's agent fee 2. normal concession. I can't say for sure when the MLS has a concession written that it's not including both numbers.
I'm so sure that every realtor will remember the .concessions part' on their listings, or will look for you, hahaha. But if you listen to the educators they say you are supposed to call and ask on every sale.
I know, i know.

 

[ucbruin]

"Some of these concessions are $10,000-$20,000 and they could make a difference in the adjusted sales price."


I'm guessing rare to never....

 

[sputnam]

Right.... Due diligence requires you to try. There's no guarantee that you will get the information or, if your call is returned, that the information you are given will be accurate. You do what you can and document what you did.

 

[Tom D]

And fannie was so smart to get anal about it at the same time realtors buyer/seller realtor comissons were separated. Bad enough to get the concession, but now is that number the concession or both concession & buyer agent pay assist. 1st a left hook, then a right hook, then kick you when your down.