Lender Requesting Copies of MLS Sheets.

[Wm. Hattaway]

you don't stand
up for something, you'll fall for anything.'

Alexander Hamilton

 

[Elliott]

Alexander Hamilton, isn't that the dude that got shot in a duel? What band did he play for?

http://new.music.yahoo.com/john-mellencamp/tracks/youve-got-to-stand-for-somethin--20207984

 

[Mike Garrett RAA]

when you can pry them from my cold dead hands!

 

[Sharon Dossett]

In my area the two MLS's that I use have voted to give the AMC's/Lenders full access to the MLS information with a fee, so they can data mine it and check the appraisers choices of comparables. I have talked with both of them and was told they voted to supply the feed to these companies with a fee. The big AMC companies have the ability to get a feed from the MLS's now. Check with your MLS, they may already be giving this information without you knowing.

 

[DMZwerg]

In my area the two MLS's that I use have voted to give the AMC's/Lenders full access to the MLS information with a fee, so they can data mine it and check the appraisers choices of comparables.

Which would seem to indicate it is redundant to include the information in the report, especially if that is a violation of YOUR agreement with the local MLS. :icon_mrgreen:

 

[cnjourdan]

MLS Access

In my area the two MLS's that I use have voted to give the AMC's/Lenders full access to the MLS information with a fee, so they can data mine it and check the appraisers choices of comparables. I have talked with both of them and was told they voted to supply the feed to these companies with a fee. The big AMC companies have the ability to get a feed from the MLS's now. Check with your MLS, they may already be giving this information without you knowing.

If the MLS have voted to allow them access to the data and they are paying a fee, then they are no different than we are. Since they have the data available we do not have to provide it and risk violating our MLS agreement.
Personally I think this pretty foolish of you local MLS to allow this but it is their business.

 

[Sharon Dossett]

Which would seem to indicate it is redundant to include the information in the report, especially if that is a violation of YOUR agreement with the local MLS. :icon_mrgreen:

Correct. Tell them to check their MLS feed and look it up, that is why we are getting requests to supply the MLS numbers for the comparables that we use.

 

[normando]

I thought one of the functions of a review appraiser was to verify information in the report including MLS. It seems like review appraiser doesn't need to do much except trust the resources supplied. When I was a reviewer, if I caught an appraiser falsifying any data, I'll never forget that appraiser and he/she will be on my "bad" list.

 

[Fritz in NY]

MLS wants the fee's, period. Why would they want to turn them down, it's free money.
I'm a bit ****ed because I had to pay an initiation fee to each MLS as well as the quarterly fee (I'm on with 5 diff. MLS systems) AND I need to have a current R.E. license with the state AND sit in a classroom to take ethics and "how to use the MLS system" classes BEFORE I can use each system.
How an AMC can avoid all of this and still have access is beyond me and it should be brought to the MLS that you are ****ed off and will withdraw and just use a another MLS members password from now on.

 

[Sharon Dossett]

Does not do any good to argue with Central Ohio Regional MLS about it, I tried last summer. I argued that it would take work from the appraiser members because of it, but did not work. They must be getting some hefty fees for the service.
I have put my sales license in escrow and became a broker member of the MLS, and still have to pay State and NAR dues just to be a member as an Appraiser.