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Leading MLS Services Form Group

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mikegoff

Sophomore Member
Joined
Jan 28, 2002
Professional Status
Certified General Appraiser
State
Florida
If their agents are like ours, the data will be full of errors and unsearchable fields. Kinda like public records. :D

There is no substitute for verification by viewing the subject 8)
 
Joined
Jan 16, 2002
I wish them well ! (that's a cynical - "tongue in cheek" comment). Given the inaccurate data within the MLS systems, they will be creating a gigantic misinformation system of pure skull drudgery. I can't believe somebody hasn't already sued our MLS on the basis of being inaccruate, misleading, and fraudulent (not to mention false advertizing). I can't imagine a national or regional MLS system, it's beyond belief !
 

Don Clark

Elite Member
Joined
Jan 17, 2002
Professional Status
Certified Residential Appraiser
State
Virginia
8)

Pam:

Our MLS in southeastern Virginia has been a private corporation since the 1970's and has been so successful that most of the Realtor owned MLS's in this part of the country have given up and have joined forces with them. It is called REIN(Real Estate Information Network) and includes access to public record data through REIN. The data is purchased from each city/county and put into the data bank. It is updated about once a month but public records are usually about 3 months behind. It is a lot better than Realtor operated MLS. You do not have to be a member of any board to belong.

Don
 
Joined
Jan 16, 2002
Don:

"Better than Realtor operated system" - why and how is that ?
How about the accuracy of the data ? What are dues ?

Regards
Ranting Joe
 

Lee in L.A.

Elite Member
Joined
Jan 24, 2002
Professional Status
Certified Residential Appraiser
State
California
Several of the MLS boards in my area reciprocate with each other, so by joining 1 you also get access to boards for other areas.

I was about to say I didn't know if any of the ones I use is involved with this, but I looked again and noticed SoCal MLS, that's one of them. But there's at least 6 different boards in the area I cover, which is parts (not all) of 2 counties, LA and Ventura. Including the whole of both counties, there's at least a few more out there.

Nationwide data means nothing to me, it's all local. But it would be nice to be able to look in 1 place for listings, instead of 2 or 3 different boards in some areas where board coverage overlaps. I don't see any way their data would be any better than in the MLS, it's coming from there right? Might be worse if they start leaving out data fields or comments for privacy reasons or whatever.
 

Don Clark

Elite Member
Joined
Jan 17, 2002
Professional Status
Certified Residential Appraiser
State
Virginia
8)

Ranting Joe, my friend,

In the beginning we had two MLS systems, one was the forerunner of the present REIN system, the other was board operated. Beginning about 20 years ago most local brokers were using both. The board operated MLS was open only to Realtors. In this area that left out about 10% of non Realtor brokers. The private corporation, at that time called Metro MLS allowed all brokers to buy stock and be a member, theoretically. Truth is they were exclusionary, and dictatorial. they even dictated, in writing, the fee split between listing broker and selling broker. A member took them to court as he felt that getting 40% as listing broker was unfair with selling broker getting 60%. The court ruled that the MLS was in violation of the law and awarded triple damages(at that time, 3 times $75,000 I believe was the figure. It is a landmark Virginia cas called "Oglesby & Barcliff vs Metro MLS". As part of the settlement Metro, now REIN had to allow membership to all, could no longer set fees or do an assortment of other activities. After that, everyone in a 4 city area belonged to Metro/REIN. That left about 5-6 other cities with their own local Realtor Associations & if you wanted data you had to belong to each board. That would have meant thousands of dollars that an appraiser, who would also have to be a salesperson or broker, and a Realtor member of each board. I remember begging for sold comparable books, trading a sold comparable book from Metro to appraiser members of the other MLS's just to do business. Now we have one large MLS in about a 75 mile radius. I do belong to a Realtor Board in North carolina for the work I do there. In REIN I pay (I may not be totaly accurate to the penny) $115.00 a quarter to belong through a non Realtor broker. I also pay a fee of over $100 a quarter to use a lock box "keypad", and $25.00 a month for computer access to the MLS via their system or on the internet. Now that ain't cheap. However it is a few thousand dollars cheaper than belonging to 6-12 Realtor Associations. As to accuracy, they are about 99% accurate. I have checked the "Public Records"(they call it tax data) against the actual public records many times over the years and found it to be that accurate. That is at least as good as the public records itself. That is why I try and verify from at least 2 sources, and often more than that. That is about as good as it will get.

Did you say you will be in Baltimore in june for the USPAP Instructor course? Hope to see you there.

Don
 

rcwessel

Freshman Member
Joined
Apr 13, 2002
Obviously, they have recognized their information is valuable - and they are attempting to capitalize on it.

Unfortunately, appraisers seem unable to do the same.
 

Pamela Crowley (Florida)

Thread Starter
Elite Member
Joined
Jan 13, 2002
Professional Status
Retired Appraiser
State
Florida
Obviously, they have recognized their information is valuable - and they are attempting to capitalize on it.

Unfortunately, appraisers seem unable to do the same.
That's very funny! :lol:

MLS information is full of BS, bait and switch tactics, mis-information! Without someone that knows what they are looking at, knows the individual agents that fill in the BS and which ones cannot be trusted, verifys the information, etc., MLS information is useless. Any Real Estate Appraiser knows this. :roll:
 

rcwessel

Freshman Member
Joined
Apr 13, 2002
Obviously, they have recognized their information is valuable - and they are attempting to capitalize on it.

Unfortunately, appraisers seem unable to do the same.
That's very funny! :lol:

MLS information is full of BS, bait and switch tactics, mis-information! Without someone that knows what they are looking at, knows the individual agents that fill in the BS and which ones cannot be trusted, verifys the information, etc., MLS information is useless. Any Real Estate Appraiser knows this. :roll:
I won't debate the merits of any MLS system. I am acknowledging the simple fact of what they have realized. If you don't agree that's fine. But you fail to recognize very plain facts.

I see by the number of posts you have placed that you have a lot of free time on your hands. Why is that?
 
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