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Concessions field being eliminated from MLS!
- Thread starter JennC
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Lee Lansford
Elite Member
- Joined
- Mar 29, 2002
- Professional Status
- Certified Residential Appraiser
- State
- Illinois
Bad decision.
imjiminnh
Junior Member
- Joined
- Oct 4, 2003
- Professional Status
- Certified Residential Appraiser
- State
- New Hampshire
Send them a message!
Here is the body of the email that I sent NNEREN regarding removal of the concessions field. If any appraisers in NH are reading this, please send a similar note (or cut and paste the note below) to let tham know we are unhappy!
To whom it may concern,
It has come to our attention that NNEREN intends to remove the concessions field from the reports database in the near future. Please be aware that this is a piece of information that is required for every comparable sale used in every appraisal, per USPAP. If the concessions are not reported (as they are in all other MLS systems), the agent noted will have to be called and individually questioned in order to attain this data. By requiring appraisers to call each agent, the appraisal process can be expected to take at least a day or 2 longer than at present, and require a greater expenditure of time on both the appraiser and agents part resulting in a price increase to the borrower, It is our contention that the noting of concessions does not present a confidentiality issue as this data is not made available to the public, but only to the parties that require it within the industry. Furthermore, by disallowing a listing agent from this data they are less able to properly price a property as the prevalence and amount of concessions can not be determined.
Please let us know if the removal of the field is indeed planned so that the NH appraisers using your system can be informed of the change and its implications to their pricing structures.
Sincerely,
James Scrivens
NH Real Estate Appraiser Group
603 470 6061
Here is the body of the email that I sent NNEREN regarding removal of the concessions field. If any appraisers in NH are reading this, please send a similar note (or cut and paste the note below) to let tham know we are unhappy!
To whom it may concern,
It has come to our attention that NNEREN intends to remove the concessions field from the reports database in the near future. Please be aware that this is a piece of information that is required for every comparable sale used in every appraisal, per USPAP. If the concessions are not reported (as they are in all other MLS systems), the agent noted will have to be called and individually questioned in order to attain this data. By requiring appraisers to call each agent, the appraisal process can be expected to take at least a day or 2 longer than at present, and require a greater expenditure of time on both the appraiser and agents part resulting in a price increase to the borrower, It is our contention that the noting of concessions does not present a confidentiality issue as this data is not made available to the public, but only to the parties that require it within the industry. Furthermore, by disallowing a listing agent from this data they are less able to properly price a property as the prevalence and amount of concessions can not be determined.
Please let us know if the removal of the field is indeed planned so that the NH appraisers using your system can be informed of the change and its implications to their pricing structures.
Sincerely,
James Scrivens
NH Real Estate Appraiser Group
603 470 6061
JennC
Junior Member
- Joined
- Jan 17, 2002
- Professional Status
- Certified Residential Appraiser
- State
- New Hampshire
The field will be removed May 1st. This information comes from a friend who is on the NNEREN board.
I believe Coldwell Banker in our area already refuses to give anybody, even if you call, the concessions.
Sorry, long link.
http://www.realtor.org/wps/wcm/conn...ERES&CACHEID=f9c754804c0191d58e98ef86fdd82741
I believe Coldwell Banker in our area already refuses to give anybody, even if you call, the concessions.
Sorry, long link.
http://www.realtor.org/wps/wcm/conn...ERES&CACHEID=f9c754804c0191d58e98ef86fdd82741
Last edited:
JennC
Junior Member
- Joined
- Jan 17, 2002
- Professional Status
- Certified Residential Appraiser
- State
- New Hampshire
http://www.absoluteastronomy.com/topics/National_Association_of_Realtors
Look towards the bottom of the page on this link, explaining the Dept of Justice lawsuit against NAR.
Look towards the bottom of the page on this link, explaining the Dept of Justice lawsuit against NAR.
imjiminnh
Junior Member
- Joined
- Oct 4, 2003
- Professional Status
- Certified Residential Appraiser
- State
- New Hampshire
I have arranged to appear before the NNEREN board of directors on April 8th, and have asked the NH chapter of the AI if they would care to speak as well. My local board of realtors did not respond to my request to email its members regarding the upcoming change. I get the feeling that I'll end up being an army of one, but I can't not speak up about a change as important as this to both appraisers and agents. Nh appraisers and agents PLEASE call write or email your associates and NNEREN about this issue!
Karen Ryan
Freshman Member
- Joined
- Mar 2, 2003
- Professional Status
- Certified Residential Appraiser
- State
- New Hampshire
In response to Jim's request, I emailed both NNEREN and the board of directors of the Upper Valley Board of Realtors (of which I am a member). Got a phone call from NNEREN's marketing/communications director saying that NAR was mandating that all MLS info be available on VOWs (virtual office websites) which could make the concession info available to the general public.
Also, NNEREN's legal eagles have determined that unless agents have the seller's permission to note the concessions on the listing, it is illegal to provide that info. Technically, this would extend to phone calls as well.
I've also heard that Nebraska MLS systems tried to do the same thing but the appraisers there were able to reverse the decision. I think I'll throw a post out to the general forum to see if I can find out how they did it....
Also, NNEREN's legal eagles have determined that unless agents have the seller's permission to note the concessions on the listing, it is illegal to provide that info. Technically, this would extend to phone calls as well.
I've also heard that Nebraska MLS systems tried to do the same thing but the appraisers there were able to reverse the decision. I think I'll throw a post out to the general forum to see if I can find out how they did it....
imjiminnh
Junior Member
- Joined
- Oct 4, 2003
- Professional Status
- Certified Residential Appraiser
- State
- New Hampshire
Karen,
Thanks for putting a bug in their ear, I wish that there was some way to mobilize the states appraisers before its too late. I havent heard back from the NH chapter of the AI or from the local board of realtors. Frustrating. Let me know if you hear anything from the Nebraska folk.
Jim
Thanks for putting a bug in their ear, I wish that there was some way to mobilize the states appraisers before its too late. I havent heard back from the NH chapter of the AI or from the local board of realtors. Frustrating. Let me know if you hear anything from the Nebraska folk.
Jim
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