Concessions field being eliminated from MLS!

[Mike Kennedy]

Most MLS have DETAILED listings including concessions for members and a PUBLIC view listing option. Couple keystrokes restricts "member" detailed listings from Public View.

Very tough hurdle to overcome - so my dogs just informed me.


NOT. .................not entering Concessions has been, is, and always will be, Simply a clandestine, intentional, method to inflate CMAS, BPOS, and Appraisals.

ps and we mustn't forget ...................................AVHUMS based on ML data. Do the State and Fed Regulators, the Heads of FHA, VA, the GSES, and Fanatical Insistushuns know it?


Certainly.

 

[Karen Ryan]

Jim,

Where and at what time is the NNEREN meeting on the 8th? If I'm free, I can probably go.

I've got a couple friends on the board of NHAI; will see if I can nudge them to do something.

 

[Charles Witt]

The Other Foot

On the other foot, suppose a seller wishes to effect a fast sale and wants to offer $10,000 in concessions. Does NAR want the agent to violate the client's instructions?

 

[Pamela Crowley (Florida)]

Tell the NNEREN members that appraisers will now have to contact all the buyers to get this information, and ALL NH appraisers need to do exactly that!

 

[Karen Ryan]

Great idea, Pamela!

The following is the text of an email I just sent to Andrew Werry, CEO of NNEREN:

"Earlier this week, I spoke with Meg Page regarding NNEREN's decision to remove the concessions field from MLS; she called me regarding an email I had sent to the Upper Valley Board of Realtors directors and NNEREN. Meg explained the situation with NAR and VOWs, and the legal opinions leading to the decision and I appreciate her responding to my email. However, I hope there is some way we can come to a compromise over this.

Please be aware that concessions information is required for every comparable sale used in every appraisal, per the Uniform Standards of Professional Appraisal Practice (USPAP), the code of ethics and standards which every licensed and certified appraiser must follow. If the information is not readily available in MLS, the appraiser has only two options, in my opinion:

1. Call all buyers and ask them if there were any concessions from the sellers
AND/OR
2. Determine what the average concession amount for the market is and automatically deduct it from the sale price.

Surely, there must be some way to make this information available to appraisers and Realtors, with the sellers' permission, without making it available to the general public? Professional Realtors need this information as much as appraisers; how else can they accurately price a property for sale?

I would like to attend NNEREN's next meeting on April 8th. Where and at what time will it be held?"

So, we'll see what happens. Is anybody else in the state fighting this? How about NAIFA?

Now I need to get back to work!

 

[imjiminnh]

Karen,

My appearance is scheduled for 9:00 AM on the 8th, and I'd be happy to have you and anyone from the AI along. My phone # is 603 470 6061, if you could give me a ring/email with your company info I'll be happy to add you and your AI friend to the agenda form they've sent me.

Jim

 

[JennC]

Been away. Good idea, I wasn't sure what to do or if it was even possible to do anything at this point.

 

[imjiminnh]

Jenn,

You could appear with us on the 8th if you'd like, strength in numbers and all. Persuading your appraiser/lender/realtor friends to express their discontent to NNEREN wouldnt hurt either.

Jim

 

[JennC]

My little guy here has a dentist appt, I'll try to reschedule it another day.
Jenn

 

[imjiminnh]

Jenn,

I understand. I don't believe that you'll be able to reschedule an appearance as it requires a formal application to be placed on the board of directors meeting agenda, but you could send them a scathing email! This is probably going to be our one shot at making our concerns known.

Jim