Comments on: MLS Data Fudged By Realtors. Watch out! http://blog.franklyrealty.com/2007/01/mls-data-fudging-by-realtors-watch-out.html Fri, 27 Jan 2012 18:42:01 -0800 http://wordpress.org/?v=2.8.4 hourly 1 By: FranklyMLS.com 101: DOMM vs DOMP Days On Market | FranklyRealty.com Trust Me I'm A REALTOR http://blog.franklyrealty.com/2007/01/mls-data-fudging-by-realtors-watch-out.html/comment-page-1#comment-4763 FranklyMLS.com 101: DOMM vs DOMP Days On Market | FranklyRealty.com Trust Me I'm A REALTOR Fri, 16 Sep 2011 16:25:12 +0000 http://franktempblog.wordpress.com/2007/01/04/mls-data-fudged-by-realtors-watch-out/#comment-4763 [...] Tricks: Where there is data, there are Realtor tricks (more here on MLS DOM fudging). [...] [...] Tricks: Where there is data, there are Realtor tricks (more here on MLS DOM fudging). [...]

]]> By: kknnaarrff http://blog.franklyrealty.com/2007/01/mls-data-fudging-by-realtors-watch-out.html/comment-page-1#comment-4718 kknnaarrff Tue, 19 Jul 2011 22:52:27 +0000 http://franktempblog.wordpress.com/2007/01/04/mls-data-fudged-by-realtors-watch-out/#comment-4718 Check this out; this property just got its 3rd MLS number: JF7652636 JF7465304 JF7213762 Is MLS NVAR illegal in West Virginia? Check this out;
this property just got its 3rd MLS number:
JF7652636
JF7465304
JF7213762
Is MLS NVAR illegal in West Virginia?

]]> By: TINA http://blog.franklyrealty.com/2007/01/mls-data-fudging-by-realtors-watch-out.html/comment-page-1#comment-4659 TINA Sat, 12 Mar 2011 01:05:37 +0000 http://franktempblog.wordpress.com/2007/01/04/mls-data-fudged-by-realtors-watch-out/#comment-4659 I ahve noticed that an agent has had photos of a rehabbed house removed so when you look at the house and go to map it the old before rehab photo is there, it has been changed so that you can not see the bad condition of the roof, it was compared to the old roof and was not repaired as stated in a fake roof certificatin. I ahve noticed that an agent has had photos of a rehabbed house removed so when you look at the house and go to map it the old before rehab photo is there, it has been changed so that you can not see the bad condition of the roof, it was compared to the old roof and was not repaired as stated in a fake roof certificatin.

]]> By: pat b http://blog.franklyrealty.com/2007/01/mls-data-fudging-by-realtors-watch-out.html/comment-page-1#comment-4219 pat b Wed, 25 Nov 2009 04:54:44 +0000 http://franktempblog.wordpress.com/2007/01/04/mls-data-fudged-by-realtors-watch-out/#comment-4219 maybe have fudge be thrown into the comments under "Agent has fudged listing showing real desperation" maybe have fudge be thrown into the comments under “Agent has fudged listing showing real desperation”

]]> By: FranklyRealty.com http://blog.franklyrealty.com/2007/01/mls-data-fudging-by-realtors-watch-out.html/comment-page-1#comment-4052 FranklyRealty.com Thu, 03 Sep 2009 01:24:07 +0000 http://franktempblog.wordpress.com/2007/01/04/mls-data-fudged-by-realtors-watch-out/#comment-4052 Interesting. Never heard of that before. Not sure how that should be listed on the MLS. Maybe they need to put a new field in. Interesting. Never heard of that before. Not sure how that should be listed on the MLS. Maybe they need to put a new field in.

]]> By: Steven Angelil http://blog.franklyrealty.com/2007/01/mls-data-fudging-by-realtors-watch-out.html/comment-page-1#comment-4050 Steven Angelil Wed, 02 Sep 2009 20:44:11 +0000 http://franktempblog.wordpress.com/2007/01/04/mls-data-fudged-by-realtors-watch-out/#comment-4050 I just checked a property that a potential buyer lost out on. The MLS showed list at $402k, sales price of $400k w/ no seller concessions. My buyer was going to submit a last minute offer to try and get the property before it went pending, but I was told by the listing to forget it unless he can go in around the $340k area all cash. My buyer could not prove all the cash on that day, so we were not able to submit offer. Today I find out that the buyer paid $443k for the house but $43k went to 2nd lein holder. To me this is fudging the MLS. Frank, you're thoughts? I just checked a property that a potential buyer lost out on. The MLS showed list at $402k, sales price of $400k w/ no seller concessions. My buyer was going to submit a last minute offer to try and get the property before it went pending, but I was told by the listing to forget it unless he can go in around the $340k area all cash. My buyer could not prove all the cash on that day, so we were not able to submit offer. Today I find out that the buyer paid $443k for the house but $43k went to 2nd lein holder. To me this is fudging the MLS. Frank, you’re thoughts?

]]> By: FRANK LL0SA Va Broker- BLOG.FranklyRealty.com http://blog.franklyrealty.com/2007/01/mls-data-fudging-by-realtors-watch-out.html/comment-page-1#comment-1831 FRANK LL0SA Va Broker- BLOG.FranklyRealty.com Sun, 02 Mar 2008 18:43:00 +0000 http://franktempblog.wordpress.com/2007/01/04/mls-data-fudged-by-realtors-watch-out/#comment-1831 Hello Anonymous,<br/>The fine for illegal (full fat) fudging was just $50 until BusinessWeek got a wind of this post. It has since gone up to $1,000.<br/><br/>I love the idea of an incentive or bonus to report these errors.<br/><br/>I have reported 130 violations (of all sorts) to MRIS, so I could get rich from that.<br/><br/>Also I have suggested to MRIS that they NOT reset the "Original Price" when a property is relisted. That would reduce the motivation for Fat Free (legal) fudging. Hello Anonymous,
The fine for illegal (full fat) fudging was just $50 until BusinessWeek got a wind of this post. It has since gone up to $1,000.

I love the idea of an incentive or bonus to report these errors.

I have reported 130 violations (of all sorts) to MRIS, so I could get rich from that.

Also I have suggested to MRIS that they NOT reset the “Original Price” when a property is relisted. That would reduce the motivation for Fat Free (legal) fudging.

]]> By: Anonymous http://blog.franklyrealty.com/2007/01/mls-data-fudging-by-realtors-watch-out.html/comment-page-1#comment-1830 Anonymous Sun, 02 Mar 2008 00:08:00 +0000 http://franktempblog.wordpress.com/2007/01/04/mls-data-fudged-by-realtors-watch-out/#comment-1830 What is the NAR penalty for such behavior? They keep advertising a "Realtor Code of Ethics" yet this practice is rampant among realtors.<br/><br/>I live in another state and keep track of realtor MLS relistings on my own, which is very time consuming. The average consumer who has not invested such time is a sitting duck.<br/><br/>The NAR penalty for such unethical realtor activity should be a $1,000 fine for the 1st occurrence, and loss of all NAR realtor credentials for a 2nd occurrence (i.e., "you're fired").<br/><br/>There should also be a $500 reward paid to any realtor who anonymously reports such bogus relistings.<br/><br/>As long as the NAR continues to ignore the problem, it will exist, and it ill reflect poorly on both the NAR and realtors in general. What is the NAR penalty for such behavior? They keep advertising a “Realtor Code of Ethics” yet this practice is rampant among realtors.

I live in another state and keep track of realtor MLS relistings on my own, which is very time consuming. The average consumer who has not invested such time is a sitting duck.

The NAR penalty for such unethical realtor activity should be a $1,000 fine for the 1st occurrence, and loss of all NAR realtor credentials for a 2nd occurrence (i.e., “you’re fired”).

There should also be a $500 reward paid to any realtor who anonymously reports such bogus relistings.

As long as the NAR continues to ignore the problem, it will exist, and it ill reflect poorly on both the NAR and realtors in general.

]]> By: Anonymous http://blog.franklyrealty.com/2007/01/mls-data-fudging-by-realtors-watch-out.html/comment-page-1#comment-1829 Anonymous Wed, 31 Oct 2007 17:00:00 +0000 http://franktempblog.wordpress.com/2007/01/04/mls-data-fudged-by-realtors-watch-out/#comment-1829 Another thing to watch out for is falsification of the number of bedrooms. For certain homes (e.g., those with septic fields instead of sewers), especially newer ones, an agent will list the number of rooms that might (legally or illegally) be used as bedrooms rather than the number of those that are proper bedrooms or the number of bedrooms for which the property "percs". A number of condos are also up-roomed, with 1BR+dens being listed as 2BRs, studios that have had a thin interior wall added listed as 1BRs, etc. The result is twofold: the buyer of the dwelling may end up overpaying and, after the sale, properly listed comps can look comparatively overpriced when, in reality, they are not. Another thing to watch out for is falsification of the number of bedrooms. For certain homes (e.g., those with septic fields instead of sewers), especially newer ones, an agent will list the number of rooms that might (legally or illegally) be used as bedrooms rather than the number of those that are proper bedrooms or the number of bedrooms for which the property “percs”. A number of condos are also up-roomed, with 1BR+dens being listed as 2BRs, studios that have had a thin interior wall added listed as 1BRs, etc. The result is twofold: the buyer of the dwelling may end up overpaying and, after the sale, properly listed comps can look comparatively overpriced when, in reality, they are not.

]]> By: Lola Audu http://blog.franklyrealty.com/2007/01/mls-data-fudging-by-realtors-watch-out.html/comment-page-1#comment-1828 Lola Audu Fri, 11 May 2007 17:25:00 +0000 http://franktempblog.wordpress.com/2007/01/04/mls-data-fudged-by-realtors-watch-out/#comment-1828 It's sad to consider that this type of activity is "justified" by the presumption that the real estate agent is "freshening up" the listing & presumably "helping the seller." Rather, it's deceptive & ultimately all of us are negatively affected because the data on MLS systems is inaccurate & gives a false perspective on how long it takes for homes to sell It’s sad to consider that this type of activity is “justified” by the presumption that the real estate agent is “freshening up” the listing & presumably “helping the seller.” Rather, it’s deceptive & ultimately all of us are negatively affected because the data on MLS systems is inaccurate & gives a false perspective on how long it takes for homes to sell

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