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This just in.

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Esox

Member
Joined
Apr 13, 2008
Professional Status
Certified Residential Appraiser
State
Wisconsin
I was contacted today by a V.P of Operations for a multi-office real estate agency here in Beertown. This person for years has been privileged to hear my complaints regarding agents' reluctance to report sales concessions, credits, etc. that take place as part of a sale. We have one huge company here that has absolutely refused to do it over the last few years. I am typically pretty persuasive, but some agents won't budge.

This person received today from the Greater Milwaukee Realtors Association a revised Addendum A. Lines #199-201 state:

Sales Concessions: Buyer and Seller authorize agents of Buyer and Seller to report sales concessions and other financing information to the MLS sold database, as applicable, and to appraisers or brokers, upon inquiry, researching comparable sales to the extent necessary to adjust prices to reflect market value.

My italics. To this I say whoo hoo, and it's about time.

Kevin
 

Thomas Fiehler

Senior Member
Joined
Jun 2, 2003
Professional Status
Certified General Appraiser
State
Ohio
Send those folks down to the Queen City to clean up our mess!
 

Mile High Trout

Elite Member
Joined
Feb 13, 2008
Professional Status
Certified Residential Appraiser
State
Colorado
Must report concessions. Must report concessions. Must disclose concessions. Must report concessions. Do report concessions. Do disclose concessions. 888888888

How can you find the equivilancy of cash value, without knowing the concessions? Sounds like inflated commissions & profits to me.
 
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