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New MLS Photo Requirements

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Non Sequitur said:
Yep. These photos are being used for other valuation products, including evaluations for banks, AVMs, hybrid products, etc. And the more photos, front, rear, all baths (sound familiar?) adds credibilty to these reports.
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Corelogic own's, partners with, or leases information from many MLS systems across the country. They own Realist. They have taken over many AMC's.

Corelogic wants to take over the valuation industry. I am sure the request for more pictures have come from thier involvement.

Once they control the information they can eliminate us pesky independant appraisers.
 
Interior photos

I for one, am extremely happy that some of our local agents are putting interior photos of their listings. Helps me view the condition and quality of the home to a degree, and I now have a better idea if a comp is a good comp!
I have even included some of the interior photos in some of my appraisals on high end homes, and have received numerous compliments on them. Seems that a picture is worth a thousand addendums! :) Clients don't seem to believe the appraisers that they hire for their opinions any more, but the photos help convince them that maybe we have selected the correct comps and maybe we know what we are doing!

Gripes me that the floor plans have been removed from the MLS/TAX rolls, but you can still get them if you drive to the CAD and pay a dollar. Go figure!

RickN
 
You can tell alot about condition based on the number of interior photos.
 
...and what photos are conveniently missing...
 
Interesting. Maybe I'm paranoid, but does anyone else see where this is heading?
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It does make you pause and wonder.

It sure makes my job easier when I can see reliable pix of comps. Who can argue with that? How about aerial photography? Man...that sure has helped quite a bit over the years.

Regarding the "MLS rules"...I find that an interesting notion. Who exactly is going to enforce these new rules? As far as I understand it...most boards are rather lax about many rules...except the one for billing you for the membership dues. We appraisers know all too well how it feels to have their toes stepped upon with respect to how we do our appraisals. Demanding specific numbers and types of photos for listings? Obviously...someone higher up the food chain is over-reaching their power. I expect these rules will vanish soon enough...
 
-Real estate agents are small business owners and professionals with the good judgment to select the photos that best highlight a property;
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Yeah, don't bother adequately representing the property, just show the good parts to lure them in.

I recently was looking at a high end property on the internet - could only find 3 photos, which seemed really odd. Then I found the listing agent's website -photos galore. Ya think the guy could be holding it back so HE gets both sides of the commision? Ya think the seller would be happy to know that?
 
I donno... When I see an MLS listing that has a photo of the barn, the field, the pond, the woods, the fenceposts, the dog and cat but no exterior shot....I know the exterior of it is a POS, or that they are calling a "Single Wide" a "ranch" style home...

Never ceases to amaze me how shallow agents think.
 
I know the exterior of it is a POS, or that they are calling a "Single Wide" a "ranch" style home...
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Ditto if there's a bunch of photos, but none of the kitchen or bath. Betcha the kitchen has some avocado green appliances.... LOL
 
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