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New FNIS MLS Product

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Junior Member
Jan 24, 2002
Professional Status
Certified General Appraiser
Are they really trying to promote a new, better product?

Or are they just trying to streamline the process of populating the data base for their AVM products?

I just have a bad feeling about these folks. They are now our local MLS software provider (formerly RISCO)


Dave Doering

Sophomore Member
Jan 16, 2002
Professional Status
Certified Residential Appraiser

I am concerned as well. In fact, the concerns of appraisers over the potential for "data mining" by companies such as FINIS was a topic of discussion at the recent meeting of the National Association of Realtors - Appraisal Section meeting in New Orleans. It is currently being looked into by NAR staff.

I am not sure if local boards are aware of the potential for their MLS data to be mined and put into a larger data base by such companies. While, I have no knowledge to the contrary, I hope the local board have enforceable confidentiality agreements in place with MLS systems providers to provide for the security of this proprietary data. It is somewhat ironic to think of all of the dues that we as appraisers pay to belong to MLS systems to have access to sales data that a company such as FINIS may accually be getting paid to provide an MLS system and be using the very data collected in that system to develop AVMS that could eventually put us out of business.

I think it is time for questions regarding the confidentiality of MLS data be asked of MLS providers at the National, State and Local board levels.

Farm Gal

Elite Member
Jan 14, 2002
Professional Status
Licensed Appraiser

This is exactly the point I was making some months ago..
The Voyager/Paragon/formerly Risco product in terms of reliability and useability is a fairly good one (agent and board dependant)... the new ownership scared the heck out of me.

FNIS is big... really really big. Forget the 'IF' about the datamining... they ARE. Further, unless your MLS choses to specifically exclude such companies they have the perfect right to all the data in the system. What is to preclude a non-local or even local person being "bought' so that a large company can use all the data? Unless your MLS is peopled by folks who refuse to permit any strangers from joining it is going to happen.. and even then: bet me there isn't at least ONE realtor/member in ANY area who can be bought...

I do not think that it is possible to prevent the datamining, the only thing in our favor is GIGO (Garbage In GArbage Out). As long as agents mis-enter and mess up areas,addresses, etc. the data will be enogh scrambled to mess up some of the mining operations.

Does your MLS use Census tracts to seperate MLS area/zones?

IF they do then the big boys with datamining and massaging capabilities probably 'know' more about your area than you do...statistically speaking.
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