Mid Florida Regional MLS has been down all day

[Wendy]

Hmmmm....:glare:

I wonder how quickly we may get things moving if this reply from the MLS board had a story in the media about..."Unreported concessions skew real estate valuations in Central Florida!"? Everyone knows that the media LOVES anything to do with the current real estate debacle!

Just thinking out loud...

Think louder!!!!!

Anybody know of a board that is reporting concessions? Maybe they have already invented this wheel and we can get a jump start.

 

[Alison Swain]

I've noticed less cooperation lately when requesting concession info. Either they can't remember (and make no offer to look up the file) or they say that's confidential info. I guess they're starting to catch on.

Still, it is sad that we can't count on other RE professionals to be honest and forthcoming about what's really going on out there. But then, they've got the NAR and FAR leading by example.

 

[Lax1]

John Hassler
Join Date: Jul 2002
City: North of SF
Professional Status: Certified Residential Appraiser
State: California
Posts: 953



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After about a year of prodding and discussion, I got this issue pushed through and implemented by our local (BAREIS) MLS earlier this year. It's been working quite well with only one negative response from an office that thought it was too difficult for the processor to enter the information. The MLS Advisory Committee, of which I am a member, thought this complaint was a "LB" (Lazy Butt) issue which they don't take too kindly to.

I would suggest that you keep pushing your MLS on this issue.

mbcrow2007
Join Date: Mar 2007
City: Central Indiana
Professional Status: Certified Residential Appraiser
State: Indiana
Posts: 3



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Ours in the Indianapolis area has a field for seller concessions. Sometimes the realtor inputs a value and sometimes they don't. My favorite is when you have a list price of $129,900 and the sales price is $131,600 and the concession field is -0-. Let the speculation begin at that point.

The system they use in the Indianapolis aea is Propertylinx. In the Muncie area it is Paragon. Both have a seller concession field.

Susie Seibert
Join Date: Mar 2005
City: Michigan's Thumb
Professional Status: Licensed Appraiser
State: Michigan
Posts: 136

concessions

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hi,

i'm in a rural community so i belong to multiple MLS systems (3 are grouped together and then there are 4 others)...all of them have a spot for selling concessions. It hasn't always been that way but the last few came around this past year. This area covers Michigan's thumb area, Bay City, Flint, & Saginaw areas
07:56 AM
Laura Harper
Join Date: Jan 2006
City: St Clair Shores, MI
Professional Status: Licensed Appraiser
State: Michigan
Posts: 155



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SE Michigan and use two MLS (Realcomp and MIRealsource) Both have a spot for concessions, with MIRealsource changing their format so that concessions paid are listed right under the sales price at the top of the listing... They have a lot of appraisers as clients. We pay a lot of money for the service. They've been good to us. That still doesn't keep agents from listing $1 sales though.

Here are a few I found recently on another section of the Forum.

 

[Lax1]

04-17-2007, 09:41 AM
RStrahan
Join Date: Jan 2002
City: Denton, Texas
Professional Status: Certified General Appraiser
State: Texas
Posts: 4,813



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Greater DFW board (primary coverage for Dallas/Ft Worth and surrounding counties) has a place for concessions and the agents are supposed to enter them. However...........

Real estate agents are constantly writing contracts with hidden concessions, "silent seconds", etc. and the terms are not being disclosed in MLS. Sometimes you just have to look at a sale and say, "something's not right", and opt not to use it, or adjust for probable hidden concessions.

An extreme example is one on her desk right now. She asked for the contract, and the agent said "if I knew that you were going to look at it, I would have written it differently". Warning, Will Robinson, Warning! You don't think there's not some concessions and funky stuff going on here, stuff that won't appear in the MLS report?


DWiley
Join Date: Apr 2007
Professional Status: Certified Residential Appraiser
State: Tennessee
Posts: 27



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Steve,

Our local MLS requires agents to report sales concessions. Just recently the MLS had a reminder message that failure to report concessions was a fineable offense.

I am in Nashville, TN.


Vegan702
Join Date: Feb 2005
City: Las Vegas, NV
Professional Status: Certified Residential Appraiser
State: Nevada
Posts: 1,055



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GLVAR (Greater Las Vegas Area Realtors) has a spot for concessions in $ format, actually it is labeled "sellers contribution."


Steve H
Join Date: Jan 2002
Professional Status: Certified Residential Appraiser
State: Idaho
Posts: 377



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Anyone else who's MLS reports sales concessions on closed sales? So far I have:

North Texas Real Estate Information Systems, Inc., Dallas, TX
Pikes Peak Multiple Listing Service, Colorado Springs, CO
Middle Tennessee Multiple Listing Service, Brentwood TN
Bay Area Real Estate Information Services, Inc., Santa Rosa, CA
Multiple Listing Service of Greater Las Vegas, Las Vegas, NV

Please let me know if I’ve missed yours, I’d like to provide the largest list possible to my MLS.

Thanks again for your help!


Audie Swan
Join Date: Nov 2003
City: Arkansas
Professional Status: Certified Residential Appraiser
State: Arkansas
Posts: 40



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CARMLS - Central Arkansas Realtors Multiple Listing Service - Little Rock, AR.

Local MLS in Little Rock, AR just removed the concessions field from all listings. The site stated the info was being removed because Realtors were not having their clients sign a release of confidential information. Most Realtors I call now are plain rude when requesting concession information. There's tons of sales in the system that show things like 2 price decreases and 200+ days on market then magically closes over list price. Hell, if the concessions info is private the sales price might as well be. I love when everyone thinks that adding $4,000 to a $40,000 sales price to cover closing doesn't matter despite the fact that it's a 10% increase in price.. Then all new listings are based upon the artificially high prices.


Steve H
Join Date: Jan 2002
Professional Status: Certified Residential Appraiser
State: Idaho
Posts: 377



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Quote:
Originally Posted by Don Banaszek
TREND in Philadelphia, SE PA., South NJ, and Delaware require concessions be shown. Atlantic MLS for Atlantic County, NJ also requires them.

Thanks Don! Anyone else who's MLS reports sales concessions? The list I have so far is:

North Texas Real Estate Information Systems, Inc., Dallas, TX
Pikes Peak Multiple Listing Service, Colorado Springs, CO
Middle Tennessee Multiple Listing Service, Brentwood TN
Bay Area Real Estate Information Services, Inc., Santa Rosa, CA
Multiple Listing Service of Greater Las Vegas, Las Vegas, NV
Mid America Regional Information Systems, St. Louis, MO
Nevada County Multiple Listing Service, Grass Valley, CA
TREND Multiple Listing Service, King of Prussia, PA
South Jersey Shore Multiple Listing Service, Atlantic City, NJ


Chris Harrison
Join Date: Jan 2002
City: West Jordan, Utah
Professional Status: Certified Residential Appraiser
State: Utah
Posts: 1,943



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Wasatch Front Regional MLS - Salt Lake City, Utah

It covers the state from Saint George to Logan. There are a few small boards that are not members (Park City) but all the boards in Utah that I am aware of require reporting of concessions on their MLS. We are a non-disclosure state.

Good Luck.


Roger R. Patzold
Join Date: Jan 2002
City: Cleveland, Texas near Houston
Professional Status: Certified Residential Appraiser
State: Virginia
Posts: 504




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Houston, Texas MLS has a blank for seller concessions and a blank for actual cost of repairs.

Beaumont MLS has a blank for concessions but there is some resistance by some realtors.


Steve H
Join Date: Jan 2002
Professional Status: Certified Residential Appraiser
State: Idaho
Posts: 377

Additional Help Needed

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I have contacted one of our MLS Board members regarding my request for disclosure of sales concessions.

He suggested that I obtain copies of the policies regarding disclosure of sales concessions from those MLS Boards that currently disclose them, so our board can review how their policies are implemented.

There are twelve MLS boards reported here that disclose sales concessions:

North Texas Real Estate Information Systems, Inc., Dallas, TX
Pikes Peak Multiple Listing Service, Colorado Springs, CO
Middle Tennessee Multiple Listing Service, Brentwood TN
Bay Area Real Estate Information Services, Inc., Santa Rosa, CA
Multiple Listing Service of Greater Las Vegas, Las Vegas, NV
Mid America Regional Information Systems, St. Louis, MO
Nevada County Multiple Listing Service, Grass Valley, CA
TREND Multiple Listing Service, King of Prussia, PA
South Jersey Shore Multiple Listing Service, Atlantic City, NJ
Wasatch Front Regional Multiple Listing Service, Salt Lake City, UT
Houston Multiple Listing Service, Houston, TX
Beaumont Multiple Listing Service, Beaumont, TX

If you have access to the written policy your board has regarding disclosure of sales concessions, and there is no confidentiality issue, could you PM me with that information, or fax it to me at the fax number in my profile.

 

[Joyce Potts]

Pam makes a great point, AND I think it's also a great idea to get some letter writing in the direction of NAR and possibibly the state AG's (attorney generals) office. Let me contact Frank and see what he thinks.

 

[Dr Seuss]

Joyce,

Let me know if there is some leg work that I can help with...:icon_idea:

Just another thought...

If anyone is doing any media interviews in the near future...or if you blog consistently, this may be an opportune time to get a wedge of information "if the MLS listed sale concessions, it would paint a better picture for all" out there in a public eye?

 

[Mike Seward]

As Bob said earlier, the page is too large for the screen requiring us to side scroll. Does anyone know how to fix this?

 

[Couch Potato]

As Bob said earlier, the page is too large for the screen requiring us to side scroll. Does anyone know how to fix this?

Get a wider monitor, that will fix it. :new_all_coholic: You need at least 1061 pixels of width to not have the side scroll bars in any window.

 

[BOB PADRICK]

Get a wider monitor, that will fix it. :new_all_coholic: You need at least 1061 pixels of width to not have the side scroll bars in any window.

not always the answer just to have a "larger" monitor. You also cannot have any sidebars, toolbars, etc, eating up side space. Its just poor coding-instead of getting window width and scaling the page that way, they're grabbing the width of the screen. In other words, they were just lazy, sloppy, and uncareful coders.

Given its a firstamres product, it could take around 8 years to fix. lol-sad isn't it.

 

[Couch Potato]

I will not argue regarding the quality of the coding, it's **** poor IMHO. I run Windows via Parallels on a MacBook Pro. It allows me to resize the "monitor" (window in which Parallels is running.) That is how I came up with the 1061 pixel number. That is the lowest monitor width where the scroll bars go away.