MLS copyright protocol

[Joe Flacco]

That describes reconciliation in a nutshell. But IMO the underwriter must appreciate an opportunity to review the MLS narrative verbatim more so than the appraisr's clumsy attempt to summarize the comparable status, either absolutely or relatively in terms of what's better and/or worse when compared with the subject--especially because an appraiser is much more likely to skirt the most salient factors if allowed to describe a comparable using his or her own words [IMO]...

Listing agent remarks tend not to be objective. Usually only points out positives.

 

[Mike Ault]

Yea but once the topic gets around to writing code etc I'm back in the stone ages...

The custom format I'm talking about would be menu driven, no coding required. I think it's probably worth one more call to their tech support. Show them that format that I posted, and ask them if their software can do something similar.

 

[Surf Cat]

I always describe each comparable utilized and my reports. I rarely use the Realtor's jargon from the MLS. I believe short descriptions provide clarity, and leads the reader down the path of my thought process. Also, the descriptions are summarized in my reconciliation for the weighting of the comparables.

Comparable #1 was considered due to similarities in condition, construction, close proximity to the subject, gross living area, equal bedroom and bath count, lot size and is the most recent sale.

Comparable #3 even though located slightly over a mile from the subject, was considered primarily due to siding a busy trafficked thoroughfare like that of the subject. Comparable #3 has an additional half bath, covered patio and additional garage space which the subject lacks. Comparable #3 was considered due to the lack of more recent and similar sales available in the subject's immediate market area.

So on and so forth....

 

[jay trotta]

Glad I'm out, but what I always questioned in my mind was; who is the "reader of the report" and how little they know about real property.
Stuck in my head for years was one such inquiry when a reviewer called and actually asked (she was imploding over the question) what name brand the toilet was?? I asked and what impact would that have on the subject value??

 

[ZZGAMAZZ]

The custom format I'm talking about would be menu driven, no coding required. I think it's probably worth one more call to their tech support. Show them that format that I posted, and ask them if their software can do something similar.

I always describe each comparable utilized and my reports. I rarely use the Realtor's jargon from the MLS. I believe short descriptions provide clarity, and leads the reader down the path of my thought process. Also, the descriptions are summarized in my reconciliation for the weighting of the comparables.

Comparable #1 was considered due to similarities in condition, construction, close proximity to the subject, gross living area, equal bedroom and bath count, lot size and is the most recent sale.

Comparable #3 even though located slightly over a mile from the subject, was considered primarily due to siding a busy trafficked thoroughfare like that of the subject. Comparable #3 has an additional half bath, covered patio and additional garage space which the subject lacks. Comparable #3 was considered due to the lack of more recent and similar sales available in the subject's immediate market area.

So on and so forth....

I understand exactly what you are describing. I did it that way for forever but it became so monotonous to paraphrase the comps description when it "should" be easier and less-time consuming [and more beneficial IMO to the intended user/client... with a major caveat that the MLS narratives are chock full of "offensive lingo" that triggers red review flags...But Thank you for your perspective. GM